Multiple-criteria decision analysisMultiple-criteria decision-making (MCDM) or multiple-criteria decision analysis (MCDA) is a sub-discipline of operations research that explicitly evaluates multiple conflicting criteria in decision making (both in daily life and in settings such as business, government and medicine). Conflicting criteria are typical in evaluating options: cost or price is usually one of the main criteria, and some measure of quality is typically another criterion, easily in conflict with the cost.
Bayes estimatorIn estimation theory and decision theory, a Bayes estimator or a Bayes action is an estimator or decision rule that minimizes the posterior expected value of a loss function (i.e., the posterior expected loss). Equivalently, it maximizes the posterior expectation of a utility function. An alternative way of formulating an estimator within Bayesian statistics is maximum a posteriori estimation. Suppose an unknown parameter is known to have a prior distribution .
NumberA number is a mathematical object used to count, measure, and label. The original examples are the natural numbers 1, 2, 3, 4, and so forth. Numbers can be represented in language with number words. More universally, individual numbers can be represented by symbols, called numerals; for example, "5" is a numeral that represents the number five. As only a relatively small number of symbols can be memorized, basic numerals are commonly organized in a numeral system, which is an organized way to represent any number.
Waste heatWaste heat is heat that is produced by a machine, or other process that uses energy, as a byproduct of doing work. All such processes give off some waste heat as a fundamental result of the laws of thermodynamics. Waste heat has lower utility (or in thermodynamics lexicon a lower exergy or higher entropy) than the original energy source. Sources of waste heat include all manner of human activities, natural systems, and all organisms, for example, incandescent light bulbs get hot, a refrigerator warms the room air, a building gets hot during peak hours, an internal combustion engine generates high-temperature exhaust gases, and electronic components get warm when in operation.
Countercurrent exchangeCountercurrent exchange is a mechanism occurring in nature and mimicked in industry and engineering, in which there is a crossover of some property, usually heat or some chemical, between two flowing bodies flowing in opposite directions to each other. The flowing bodies can be liquids, gases, or even solid powders, or any combination of those. For example, in a distillation column, the vapors bubble up through the downward flowing liquid while exchanging both heat and mass.
Independent and identically distributed random variablesIn probability theory and statistics, a collection of random variables is independent and identically distributed if each random variable has the same probability distribution as the others and all are mutually independent. This property is usually abbreviated as i.i.d., iid, or IID. IID was first defined in statistics and finds application in different fields such as data mining and signal processing. Statistics commonly deals with random samples. A random sample can be thought of as a set of objects that are chosen randomly.
Energy policy of the United KingdomThe energy policy of the United Kingdom refers to the United Kingdom's efforts towards reducing energy intensity, reducing energy poverty, and maintaining energy supply reliability. The United Kingdom has had success in this, though energy intensity remains high. There is an ambitious goal to reduce carbon dioxide emissions in future years, but it is unclear whether the programmes in place are sufficient to achieve this objective.
Efficient energy useEfficient energy use, sometimes simply called energy efficiency, is the process of reducing the amount of energy required to provide products and services. For example, insulating a building allows it to use less heating and cooling energy to achieve and maintain a thermal comfort. Installing light-emitting diode bulbs, fluorescent lighting, or natural skylight windows reduces the amount of energy required to attain the same level of illumination compared to using traditional incandescent light bulbs.
Air source heat pumpAn air source heat pump (ASHP) is a type of heat pump that can absorb heat from outside a structure and release it inside using the same vapor-compression refrigeration process and much the same equipment as air conditioners but used in the opposite direction. Unlike an air conditioning unit, most ASHPs are reversible and are able to either warm or cool buildings and in some cases also provide domestic hot water. In a typical setting, an ASHP can gain 4 kWh thermal energy from 1 kWh electric energy.
Decision-makingIn psychology, decision-making (also spelled decision making and decisionmaking) is regarded as the cognitive process resulting in the selection of a belief or a course of action among several possible alternative options. It could be either rational or irrational. The decision-making process is a reasoning process based on assumptions of values, preferences and beliefs of the decision-maker. Every decision-making process produces a final choice, which may or may not prompt action.
