The formula to calculate the Load Factor (LF) is:
\[ LF = \frac{AL}{ML} \times 100 \]
Where:
A load factor is defined as the percentage or ratio of the average load of an electrical system and the maximum or peak load of that same system over a given time period. The higher the load factor, the less likely a system is able to handle a sudden spike in power consumption.
Let's assume the following values:
Using the formula:
\[ LF = \frac{500}{1000} \times 100 = 50% \]
The Load Factor is 50%.