Instrument Engineers' Handbook, Volume 3, 4th Edition

3 Instrumentation in Processes and Automation 83

For the production-accounting perspective, the value is given

by the difference between the downside expected nancial

loss when no sensors are used (a reference value) and the

downside expected nancial loss corresponding to the sensor

network:

V q DEFL DEFL( ) ( ) ( )= −

{ }

no sensor with sensors

(3.5)

In turn, the downside expected nancial loss is obtained as

follows: Because of the random errors of the estimator of a

product stream ow rate, there is a nite probability that the

estimator is above the target but in fact the real ow is below

it. In such situation and under t ...