emgt 346 hw#1 solutions

8/12/2019 EMGT 346 HW#1 Solutions

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EMGT 346 HOMEWORK #1 SOLUTIONS

1-2(a) Yes. The choice of an engine has important money consequences, so itwould be suitable for engineering economic analysis.(b) Yes. Important economic and social consequences. Some might argue that the

social consequences are more important than the economics.(c) ? robably there are a !ariety of considerations much more important than theeconomics.(d) "o. ic#ing a career on an economic basis sounds terrible.(e) "o. ic#ing a wife on an economic basis sounds e!en worse.

1-18(a) $a%imi&e the difference between output and input.(b) $inimi&e input.(c) $a%imi&e the difference between output and input.(d) $inimi&e input.

1-25'In decision ma#ing the model is mathematical.

1-26The situation is an e%ample of the failure of a lowcost item that may ha!e ma*orconsequences in a production situation. +hile there are alternati!es a!ailable, oneappears so ob!ious that that foreman discarded the rest and as#s to proceed withthe replacement.ne could argue that the foreman, or the plant manager, or both are ma#ing

decisions. There is no single 'right answer to this problem.

1-59Sa!ing - /0123.44 5 ( 6 74 miles) (04.849mile): - 0328.449wee#

2-2(a) 344 parts

;!erage cost - 01,384

4-46+ - +01444 (9;, iK, 14) (9, iK, >) - 02,444Fy trial and errorETry i - 1K 01,444 (1=.3>7) (1.3=>) - 0=,8 i too low

i - 13K 01,444 (4.) (1.=>7) - 0.) - 0>.) 5 0>4 (9Q, 2K, >)R - 024 (.834) - 8>.78 5 128 - >34.78 - R (9, 2K, ) - 0>34.78 (4.23=


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(a) - 34,444 (9;, =K, 13) 5 3,444 (9Q, =K, 13)- 34,444 (7.142) 5 (3,444) (3.>>8)- 0=1=,88>) - 0,7.84 (9, 14K, 7.84 (1..240,4


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W ; - 014,444 (;9, 1.3K, >2) - 014,444 (4.4=2) - 0=2

4-111@ompute the effecti!e interest rate per quarterly payment periodEiqtr - (1 5 4.1491)

emgt 346 hw#1 solutions

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