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1. Your Company has asked you to evaluate the options of building 6000 firmware (SW/HW) units or purchasing them from a vendor at $66.50 per unit. Your company has the skills and capacity to build 6000 units. The SW/HW engineers estimate the build costs at: 1) one-time setup cost of $30,000; and 2) production cost of $60/unit. The test/quality assurance personnel inform you that a percentage of the units may be defective as shown below:
% defective 0% 1% 2% 3% 4%
% probability 40% 30% 20% 6% 4%
of occurrence
The engineers estimate the costs to remove, repair, replace, and re-test defective units at $145/defective unit. However, 100% of units purchased from vendors are guaranteed to be defect-free.
a. What approach/tool would you use to evaluate the options?
b. Which option would you recommend and what is the basis for the recommendation?
This document contains various important questions and their appropriate answers in the subject field of Economics.
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