An article in Electric Power Systems Research [On the Self-Scheduling of a Power Producer in Uncertain Trading

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An article in Electric Power Systems Research [“On the Self-Scheduling of a Power Producer in Uncertain Trading Environments” (2008, Vol. 78(3), pp. 311–317)] considered a self-scheduling approach for a power producer. In addition to price and forced outages, another uncertainty was due to generation reallocations to manage congestions. Generation reallocation was modeled as 110X −60 (with range [−60,50] MW/h) where X has a beta distribution with parameters α = 3.2 and β = 2.8. Determine the mean and variance of generation reallocation.

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Applied Statistics And Probability For Engineers

ISBN: 9781118539712

6th Edition

Authors: Douglas C. Montgomery, George C. Runger

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