A 120. MW coal plant wants to add a SOx emissions control system to reduce its emissions. The emission control system has a capital cost of $815 per kW and reduces SOx emissions by 98% to 0.0918 kg/MWh. Assume the life of the emission control system is 20 years and the power plant produces 650 GWh/y. a) What is the annualized cost of this system in dollars per year if the discount rate (interest rate) is 7.0 percent/year? What if the discount rate is 4.0 percent/year? b) What is the cost per 1.0399 x 10^4 kWh of electricity usage (the average annual U.S. residential electricity consumption in 2017 according to the EIA) at each of the discount rates specified in part (a)? c) What is the cost per metric ton of SOx removed? (1 metric ton = 1,000 kg = 10^6 g)
Correlation
Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.
Linear Correlation
A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.
Regression Analysis
Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.
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