Engineering Economy
8th Edition
ISBN: 9780073523439
Author: Leland T Blank Professor Emeritus, Anthony Tarquin
Publisher: McGraw-Hill Education
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Question
Chapter 1, Problem 1P
To determine
Selection criterion of alternative.
Expert Solution & Answer
Explanation of Solution
There are many alternatives that are available, and many criteria are used to select the alternative because the resources are limited.
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Students have asked these similar questions
Discuss the importance of alternative identification in the engineering economic process.
In most engineering economy studies, the best alternative is the one which:a. Will last the longest timeb. Is the easiest to implementc. Costs the leastd. Is the most politically correct
Another name for noneconomic attributes is: (a) Sustainability (b) Intangible factors (c) Equivalence (d ) Evaluation criteria
Chapter 1 Solutions
Engineering Economy
Ch. 1 - Prob. 1PCh. 1 - Prob. 2PCh. 1 - Prob. 3PCh. 1 - Prob. 4PCh. 1 - Prob. 5PCh. 1 - Prob. 6PCh. 1 - Prob. 7PCh. 1 - Prob. 8PCh. 1 - Prob. 9PCh. 1 - Prob. 10P
Ch. 1 - Prob. 11PCh. 1 - Prob. 12PCh. 1 - Prob. 13PCh. 1 - Prob. 14PCh. 1 - Prob. 15PCh. 1 - Prob. 16PCh. 1 - Determine the amount of money FrostBank might loan...Ch. 1 - Prob. 18PCh. 1 - Prob. 19PCh. 1 - Prob. 20PCh. 1 - Prob. 21PCh. 1 - Prob. 22PCh. 1 - Prob. 23PCh. 1 - Prob. 24PCh. 1 - To attract new customers, EP Employees Credit...Ch. 1 - Prob. 26PCh. 1 - Prob. 27PCh. 1 - Prob. 28PCh. 1 - Prob. 29PCh. 1 - Prob. 30PCh. 1 - Prob. 31PCh. 1 - Prob. 32PCh. 1 - State University tuition and fees can be paid...Ch. 1 - Prob. 34PCh. 1 - Prob. 35PCh. 1 - Prob. 36PCh. 1 - Prob. 37PCh. 1 - Prob. 38PCh. 1 - Prob. 39PCh. 1 - Prob. 40PCh. 1 - Prob. 41PCh. 1 - Prob. 42PCh. 1 - Prob. 43PCh. 1 - What is the weighted average cost of capital for a...Ch. 1 - Prob. 45PCh. 1 - Prob. 46PCh. 1 - Prob. 47PCh. 1 - Prob. 48ESCh. 1 - Prob. 49ESCh. 1 - Prob. 50ESCh. 1 - Prob. 51ESCh. 1 - Prob. 52APQCh. 1 - Prob. 53APQCh. 1 - Prob. 54APQCh. 1 - Prob. 55APQCh. 1 - Prob. 56APQCh. 1 - Prob. 57APQCh. 1 - Prob. 58APQCh. 1 - Prob. 59APQCh. 1 - Prob. 60APQCh. 1 - Prob. 61APQCh. 1 - Prob. 1CSCh. 1 - Prob. 2CSCh. 1 - You developed an interest in the LCOE relation and...
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Similar questions
- Identify at least three noneconomic attributes that may be used as evaluation criteria in the decisionmaking process.arrow_forwardIn decision making process, the most important role of engineering economist is to define feasible alternatives. Select one: True Falsearrow_forwardThe analysis techniques that are used in engineering economic analysis are only as good as what?arrow_forward
- How is identifying and estimating relevant project cash flows perhaps the most challenging aspect of engineering economic analysis?arrow_forwardChevron Corporation has a capital and exploratory budget for oil and gas production of $19.6 billion in one year. The Upstream Division has a project in Angola for which three offshore platform equipment alternatives are identified. Use the present worth method to select the best alternative at 12% per year.arrow_forwardSome of the formal evaluation techniques used by engineers is Economic analysis. Such analyses attempt to compare the public benefits from such projects with the costs of providing them. Economic studies may be used to (give three uses):arrow_forward
- only part d solution is neededarrow_forwardEngineering economic analysis can be described by the following statement: (a) Involves a systematic analysis of relevant costs and benefits. (b) Involves a comparison of competing alternatives. (c) Supports a rational economic decision-making objective. (d) All of the above.arrow_forwardThe Texas Department of Transportation (TxDOT) is considering two designs for crash barriers along a reconstructed portion of I-10. Design 2B will cost $3 million to install and $128,500 per year to maintain. Design 4R will cost $3.7 million to install and $55,000 per year to maintain. Determine which design should be selected based on a rate of return analysis if TxDOT uses a MARR of 6% per year and a 20-year project period. The rate of return is %. Design is selected. 4R OR 2Barrow_forward
- ChemCo Enterprises is the manufacturer of Ultra-Dry, a hydrophobic coating that will waterproofanything. Over a 5 year period, the costs associated with the pilot test product line were as follows: first cost of $43,000 and annual costs of $18,000. Annual revenue was $40,000 and used equipment was salvaged for $4,000. What rate of return did the company make on the product?arrow_forwardFive mutually exclusive cost alternatives that have infinite lives are under consideration for decreasing the fruit-bruising rates of a thin skin-fruit grading and packing operation (peaches, pears, apricots, etc.). The initial costs and cash flows of each alternative are available. If the MARR is 15% per year, the one alternative to select is: Alternative A B C D E Initial cost, $ −11,000 −12,000 −9,000 −14,000 −15,000 Cash flow, $ per year −1000 −900 −1400 −700 −300 (a) A (b) B (c) D (d) Earrow_forwardWhen comparing different-life alternatives by the B/C method, the alternatives should be compared over: (a) The life of the shorter-lived alternative (b) The life of the longer-lived alternative (c) The LCM of their lives (d) An infinite time periodarrow_forward
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