2025 Orange County Water Demand Projection Model
List of Modeling Terms
Term
Working Definition
Group of customers defined in rate schedule for revenue collection Group of accounts defined in rate schedule for revenue collection
Billing Class
Billing Accounts
Sector
One or more billing classes combined for modeling
Driver Unit (Driver)
Indicator of scale or growth for a given sector (counts)
Rate of Use
Measure of water use per driver unit
Econometric Model
Multiple regression model specifying economic variables
Explanatory Variable (i.e. water price and maximum monthly temperature)
A variable specified in a regression model to explain variability in water use
Elasticity (multiplier) that measures the response of water use to changes in explanatory variables Process of estimating parameters that measure the response of water use to changes in explanatory variables
Coefficient
Model Fitting
Calculation of water use for assumed values of explanatory variables
Model Prediction
The amount of money a person or an entity earns, without accounting for inflation or changes in purchasing power The stated price of an item without any adjustments for inflation representing its value in currency at the time of a transaction
Nominal Income
Nominal Price
Employment in each Commercial, Industrial, or Institutional sector
Relative Sectoral Employment
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Appendix G - 8
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