Seemingly either/both according to 311.1 - it says "maximum demand of an installation or part thereof".Is diversity to be used for designing individual circuits?
Or is its purpose to provide an assumed load to be used in assessing the maximum demand of the whole installation?
As you will have seen, my concern is not with it's application to an individual circuit, but rather that the concept of diversity is not appropriate to non-probabilsitic things like the actual current which is flowing at the moment a switch tries to interupt it. I do personally think it appropriate that one should use diversity to create a situation in which that current could be greater than the rating of the switch - and I would personally regard that as an abuse/misuse of the concept of diversity.
Kind Regards, John