I am working for a plant and we have executed a green initiative that starts with the monitoring of our total usage in water, electricity, fuel etc. We have a table to do this, but it requires way too much data entry and time to complete so we are trying to use excel to automate it as much as possible.
If I have three column sets of data that are ordered like this (rough example of the table that has more data)
P= Pressure vessel cooling water, S= Sanitary water, and T = total water
P + S =T
20 10 30
30 15 45
40 20 60
And they are tabulated over the span of a few years, is it possible to create a formula or use a constant number that I can multiply or divide the total water consumption by, that can give me the pressure vessel cooling water with a slight but negligible margin of error?
What I did was with two of the columns (pressure vessel cooling water and total water consumption) calculate the correlation coefficient. It was about .9 which is pretty good. with that I set the
[Pressure Vessel cooling water amount] = [Total Water Consumption]*x
Solved for x and got say 0.7, can I use this number within the last few years of data sets in order to predict the amount of cooling water? The goal is to be able to do it for the remaining months of this year with again as I mentioned, a reasonable margin of error but to run the experiment on the last few years in order to get a better coefficient.
I experimented with the value and I recieved variations between the calculated values vs the original values of +/- no more than 10%. I don't know if there is a more formal formula for doing this but any help would be much appreciated!