HW4 - Long term system planning
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ES 300 – Homework 4 Long term system planning
Note:
all data needed to complete this assignment are in the HW4 Data.xlsx file posted on Moodle. You are chief demand forecaster at the friendly neighborhood electric utility, and are trying to build a model that will predict “peak system demand” in the year 2024. To start with, you have a bunch of historical information for the past 20 years, including peak demand data and records of four other variables that might help explain how peak demand changes year-to-year. Note that 1 GW = 1000 MW.
You decide
to start
with
some exploratory analysis of the pairwise relationships between peak demand and the other variables. 1)
First, create four separate “scatter plots” of peak electricity demand versus (show them in different graphs). You must label each axis to get
credit!
a.
Economic index
Year
Peak
Demand
(GW)
Economic
Index
Population
(million)
Per Capita
Energy use
Metric
Max Average
Daily Temp (F)
2004
19.34
1.10
4.00
1.30
85.46
2005
20.11
1.30
4.08
1.40
86.99
2006
19.83
1.40
4.14
1.40
86.00
2007
20.20
1.50
4.21
1.50
84.47
2008
20.47
1.80
4.27
1.50
86.99
2009
20.70
1.60
4.35
1.40
89.42
2010
20.52
2.67
4.44
1.10
89.42
2011
20.81
1.78
4.55
1.20
90.50
2012
20.20
-0.29
4.64
1.00
86.00
2013
19.78
-2.78
4.72
0.98
86.00
2014
20.81
2.53
4.79
0.98
86.99
2015
20.67
1.60
4.85
0.97
84.47
2016
20.98
2.22
4.90
0.96
86.99
2017
20.49
1.80
4.95
0.94
83.48
2018
20.85
2.00
5.00
0.94
84.56
2019
20.74
2.40
5.06
0.93
83.56
b. Population
c.
Per capita energy use
d.
Maximum average daily temperature
Since no single variable is a perfect predictor of peak demand, you think it would be wise to create a model that uses information from all four variables to help predict demand. You use least squares regression to fit the following model.
Y
T = aw
T
+ bx
T
+ cy
T
+ dz
T
Where, Y
T = predicted peak demand in year T (in GW)
w
T
= economic index in year T
x
T
= population in year T
y
T
= per capita energy use in year T
z
T
= maximum average daily temperature in year T
The “best fit” coefficients are found to be:
a = 0.1758
b = 1.344
c = 0.220
d = 0.1595
With your trusty model in hand, you set out to predict future demand. The person
in the cubicle next to you passes you a series of forecasts that describe the state of the world in the years 2020-2024. Here is what it says:
Year
Economic
Index
Populatio
n (million)
Per Capita
Consumptio
n Metric
2020
0.90
5.15
0.90
2021
0.95
5.25
0.85
2022
1.00
5.40
0.80
2023
1.05
5.55
0.80
2024
1.10
5.75
0.78
What you don’t know is what the maximum average daily temperature will be in these future years (no one does!). You decide a reasonable way to look into this would be to use historical temperature data from 1954-2019:
2. Look at the historical temperature data listed in the ‘HistoricalTemps’ worksheet (look at the bottom of the screen in Excel), please calculate two values:
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