Contemporary Engineering Economics (6th Edition)
Contemporary Engineering Economics (6th Edition)
6th Edition
ISBN: 9780134105598
Author: Chan S. Park
Publisher: PEARSON
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Chapter 5, Problem 5P
To determine

Calculate the number of shoe.

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Daisy works for a candle manufacturer and has a great idea for a new product. She wants the candle to smell like french fries that have just been lifted from a deep fryer, as she knows this is a smell that many people find nostalgic. She designed the cover of the package to mirror a popular fast food chain's packaging. The legal team has advised that there is risk with this approach. The cost of the candles will be 10% more to manufacture than a more traditional candle, and the candles will have a retail prices of 20% more. Which of the following can be concluded from Daisy's story above? A) Daisy's new candle is the most expensive canlde that Daisy's company makes B) The french fry candle will sell more than lavender candles due to nostalgia  C) The french fry candle will have a higher profit margin ([price - cost]/price) than a more traditional candle D) The legal team strongly believes Daisy will be sued because of the packaging design
The Zagat Restaurant Survey provides food, decor, and service ratings for some of the top restaurants across the United States. For 15 restaurants located in Boston, the average price of a dinner, including one drink and tip, was $48.60. You are leaving on a business trip to Boston and will eat dinner at three of these restaurants. Your company will reimburse you for a maximum of $50 per dinner. Business associates familiar with these restaurants have told you that the mea cost at one-third of these restaurants will exceed $50. Suppose that you randomly select three of these restaurants for dinner. a. What is the probability that none of the meals will exceed the cost covered by your company (to 4 decimals)? b. What is the probability that one of the meals will exceed the cost covered by your company (to 4 decimals)? c. What is the probability that two of the meals will exceed the cost covered by your company (to 4 decimals)? d. What is the probability that all three of the meals will…
A machine that produces a certain piece must be turned off by the operator after each piece is completed. The machine "coasts" for 15 seconds after it is turned off, thus preventing the operator from removing the piece quickly before producing the next piece. An engineer has suggested installing a brake that would reduce the coasting time to 3 seconds. The machine produces 50,000 pieces a year. The time to produce one piece is 1 minute 45 seconds, excluding coastint time. The operator earns $11 an hour and direct costs for operation are $6 an hour. The direct costs are incurred whenever the operator has to work. The brake will require servicing every 572 hours of operation. It will take the operator 30 minutes to perform the necessary maintenance and will require $48 in parts and material. The brake is expected to last 7,500 hours of operation (with proper maintenance) and will have no salvage value. How much could be spent for the brake if the Minimum Attractive Rate of Return is 10%…
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