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Abstract
Chemical engineering plant cost index (CEPCI) is widely used to update the capital costs for the process of engineering projects. As a rule, prediction of its required twenty or so options. As an alternative, we offer a correlation to predict the index based on available and forecast the macroeconomic performance of:
CEPCI (p) = 0.135 • CEPCI (k0) • exp {• Σnk = k0 (IK)} + B • watered + C
active with the first year of the period under review, the United States interest rate IK bank prime lending in the year and was offering a price of domestic crude oil in the United States in the year p. ideal were obtained by choosing different sets of values of the constants, (B) and © for each of the three periods 1958 to 1980 year; 1981-1999 period; and from 2000 to 2011, 2011. these changes can be the result of exposure to the oil shocks of the 1970 's and very high interest rates in the 1980 's, which may herald a change in the index formula in 1982 and 2002 respectively, the error was within 3% in any year since 1958 by 2011, and within 1% from 2004 to 2011, after reconfiguring weighing on oil prices. Correlation was used to predict the CEPCI under different scenariossimulated data from the energy information Administration, or predict, based on futures contracts for crude oil.
