Problem #3: By supplying energy at a rate of 20,250 kJ/h, a heat pump is able to maintain the temperature of a dwelling at 20°C. The heat pump receives energy by heat transfer from the outdoor air at -5°C. Assume that electricity costs $0.10/kWh.
a) Determine the minimum theoretical operating cost for each day of operation.
b) What is the actual coefficient of performance for the heat pump if the utility bills indicate that the actual cost is 32% higher than the minimum theoretical cost?