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The efficiency ratio indicates the expenses as a percentage of revenue (expenses / revenue), with a few variations – it is essentially how much a corporation or individual spends to make a dollar; entities are supposed to attempt minimizing efficiency ratios (reducing expenses and increasing earnings). The concept typically applies to banks.
A realistic indication of energy efficiency over an entire year can be achieved by using seasonal COP or seasonal coefficient of performance (SCOP) for heat. Seasonal energy efficiency ratio (SEER) is mostly used for air conditioning. SCOP is a new methodology which gives a better indication of expected real-life performance of heat pump ...
In statistics, efficiency is a measure of quality of an estimator, of an experimental design, [1] or of a hypothesis testing procedure. [2] Essentially, a more efficient estimator needs fewer input data or observations than a less efficient one to achieve the Cramér–Rao bound.
The average efficiency of world electricity production in 2009 was c.37%. [10] A priority in the Energy Hierarchy is to improve the efficiency of energy conversion, whether in traditional power stations [11] or by improving the performance ratio of photovoltaic power stations [12] and other energy sources.
The efficiency of a Brayton engine can be improved by: Increasing pressure ratio, as Figure 1 above shows, increasing the pressure ratio increases the efficiency of the Brayton cycle. This is analogous to the increase of efficiency seen in the Otto cycle when the compression ratio is increased. However, practical limits occur when it comes to ...
However, a real diesel engine will be more efficient overall since it will have the ability to operate at higher compression ratios. If a petrol engine were to have the same compression ratio, then knocking (self-ignition) would occur and this would severely reduce the efficiency, whereas in a diesel engine, the self ignition is the desired ...
The efficiency of internal combustion engines depends on several factors, the most important of which is the expansion ratio. For any heat engine the work which can be extracted from it is proportional to the difference between the starting pressure and the ending pressure during the expansion phase.
Energy conversion efficiency (η) is the ratio between the useful output of an energy conversion machine and the input, in energy terms. The input, as well as the useful output may be chemical , electric power , mechanical work , light (radiation), or heat .