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Question: Central Foundry wants to use an additive model for choosing its best approach to a particular casting problem. Management has decided that the expected value should receive 50% more weight than the standard deviation of the EACs. Assume i = 9%.
Alternative A has a first cost of $100K and no salvage value after 10 years. The probability of marginal results is .3, and the annual operating costs will be $25K. The probability of good results is .5, and the annual operating costs will be $10K. The annual operating costs for excellent results will be $5K.
Alternative B has an annual operating cost of $15K and no salvage value after 10 years. With a probability of .4, the first cost will be $80K. With a probability of .5, the first cost will be $105K. The highest possible first cost is $140K.
(a) What is the expected value and standard deviation of each alternative's EAC?
(b) What is the scoring function for each criteria, the score of each alternative, and which should be chosen?
Five years ago, a company in New Jersey installed a diesel-electric unit costing $50,000 at a remote site because no dependable electric power.
1. a study of the costs of electricity generation for a sample of 112 british firms innbsp 1946 - 1947 yielded the
Analysis: analyze causes of the event or issue; analyze effects on the market and/or the economy. Conclusions based on your knowledge of economic theory.
Janice really likes potatoes. At best any other goods are worth less than a dollar to her, potatoes cost $1.00 per pound, and she has $6.00.
explain the four factors for production that influence a countrys standard of living and ultimately a persons quality
Explore how the risks and the approaches to anticipate these risks differ for each company. Describe the kinds of risks that are most intimidating for each.
You have just learned that one of the bottles (Wine A) that you purchased five years ago has appreciated considerably. A friend has offered to buy the bottle.
Do you think the U.S. is headed for a collapse within the next few decades?
A steel producer has the production function q=10K^0.75 E^0.25 where q is the quantity of steel, in metric tons, K is the firm's capital stock, and E is the number of labor hours it employs (measured in thousands).
How does this globalization affect the choices you face in your economic decisions? Do the effects change if you think of yourself as a consumer or as a producer?
Define the concepts of substitution effect and income effect. Illustrate these in your graph. Is x a normal good? Explain.
What are some real-life examples of monopolistically competitive, oligopoly, and monopoly markets? How do market prices differ between perfectly and imperfectly competitive markets?
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