THE APPLICATION OF INTERVAL ANALYSIS TO ECONOMIC DECISION EVALUATION OF ELECTRIC ENERGY SYSTEMS

Abstract A general model for decision evaluation is presented which consists of engineering, economic, and decision evaluation submodels. The methodology utilizes interval mathematics, which offers a new approach to modeling parameter uncertainty and transforms results from the engineering and economic models into indices that are used for performing pairwisc comparisons between alternative designs A distribution case study which considers eight alternative designs is presented. Sample results are presented in terms of the proposed decision evaluation vector and display.