Reference no: EM133224185
Consider the seven situations described. Which one situation seems most suitable for solution by engineering economic analysis?
(a) Jane has met two college students that interest her. Bill is a music major who is lots of fun to be with. Alex is a fellow engineering student, but he does not like to dance. Jane wonders what to do.
(b) You drive periodically to the post office to pick up your mail. The parking meters require 25c for 6 minutes-about twice the time required to get from your car to the post office and back. If parking fines cost $20, do you put money in the meter or not?
(c) At the local market, candy bars are 75c each or three for $2. Should you buy them three at a time? (d) The cost of car insurance varies widely from company to company. Should you check with several insurance companies when your policy comes up for renewal?
(e) There is a special local sales tax ("sin tax") on a variety of things that the town council would like to remove from local distribution. As a result, a store has opened up just outside the town and offers an abundance of these specific items at prices about 30% less than is charged in town. Should you shop there?
(f) Your mother reminds you that she wants you to attend the annual family picnic. That same Saturday you already have a date with a person you have been trying to date for months.
(g) One of your professors mentioned that you have a poor attendance record in her class. You wonder whether to drop the course now or wait to see how you do on the first midterm exam. Unfortunately, the course is required for graduation.