Hello please i need help on this homework for Engineering Economics thank you for your help1-3
Which one of the following problems is most suitable for analysis by engineering economic
(a) One of your two favorite sandwich shops offers a 10-punch loyalty card and the other
does not. Where should you stop today?
(b) A woman has $150,000 in a bank checking account that pays no interest. She can either
invest it immediately at a desirable interest rate or wait a week and know that she will be
able to obtain an interest rate that is 0.15% higher.
(c) Joe backed his car into a tree, damaging the fender. He has car insurance that will pay for
the fender repair. But if he files a claim for payment, they may charge him more for car
insurance in the future.
You must fly to another city for a Friday meeting. If you stay until Sunday morning your
ticket will be $250, rather than $800. Hotel costs are $200 per night. Compare the economics
with reasonable assumptions for meal expenses. What intangible consequences may
dominate the decision?
In the fall, Jay Thompson decided to live in a university dormitory. He signed a dorm
contract under which he was obligated to pay the room rent for the full college year. One
clause stated that if he moved out during the year, he could sell his dorm contract to another
student who would move into the dormitory as his replacement. The dorm cost was $6300
for the two semesters, which Jay had already paid.
A month after he moved into the dorm, he decided he would prefer to live in an apartment.
That week, after some searching for a replacement to fulfill his dorm contract, Jay had two
offers. One student offered to move in immediately and to pay Jay $500 per month for the
seven remaining months of the school year. A second student offered to move in the second
semester and pay $2800 to Jay.
Jay estimates his food cost per month is $350 if he lives in the dorm and $300 if he lives in an
apartment with three other students. His share of the apartment rent and utilities will be
$450 per month. Assume each semester is 4½ months long. Disregard the small differences in
the timing of the disbursements or receipts.
(a)What are the three alternatives available to Jay?
(b)Evaluate the cost for each of the alternatives.
(c)What do you recommend that Jay do?
A farmer must decide what combination of seed, water, fertilizer, and pest control will be
most prof- itable and environmentally conscious for the comingyear. The local agricultural
college did a study of this farmer’s situation and prepared the following table.
The last page of the college’s study was torn off, and hence the farmer is not sure which plan
the agri- cultural college recommends. Which plan should the farmer adopt considering:
(a) only the direct costs,
(b) both the direct and extra-market costs
A student accepts a full-time job in November, but a better job comes before graduation in
May. What are the ethical dimensions of the student’s decision? Would you take the better
job? Why or why not?
At the international level, questions arise about whether the U.S. ban on bribery is practical
or appropriate. In some countries government workers are very poorly paid, and they can
support their families only by accepting money to “grease” a process.
Two manufacturing firm, located in cities 90 miles apart, both send their trucks four times a
week to the other city full of cargo and return empty. Each driver costs $275 per day with
benefits (the round trip takes all day) and each firm has truck operating costs of $1.20 a mile.
(a) How much could each firm save weekly if each sent its truck twice a week and hauled the
other firm’s cargo on the return trip?
(b) What would the savings be if there was a $0.20 per mile emissions tax on all business
A city needs to choose area rubbish disposal areas.
Area A: A gravel pit has a capacity of 16 mil- lion cubic meters. Owing to the possibility of
high groundwater the Regional Water Pollution Control Board has restricted the lower 2
million cubic meters of fill to inert material only (earth, concrete, asphalt, paving, brick,
etc.). This must be purchased and hauled to this area for the bottom fill.
Area B: Capacity is 14 million cubic meters. For 20% of the city, the haul is the same distance
as for Area A. The round-trip haul is 5 miles longer for 60% of the city, and 2 miles shorter
for 20% of the city.
Assume the following conditions:
Cost of inert material placed in Area A will be $9.40/m3.
Average speed of trucks from last pickup to disposal site is 25 miles per hour.
The rubbish truck and a two-man crew will cost $210 per hour.
Truck capacity of 41/2 tons per load or 20 m3.
Sufficient cover material is available at all areas.
Which of the sites do you recommend?
A grower estimates that if he picks his apple crop now, he will obtain 1000 boxes of apples,
which he can sell at $30 per box. However, he thinks his crop will increase by 120 boxes of
apples for each week he delays picking, but that the price will drop at a rate of $1.50 per box
per week; in addition, he estimates that approximately 20 boxes per week will spoil for each
week he delays picking.
(a) When should he pick his crop to obtain the largest total cash return? How much will he
receive for his crop at that time?
(b) Build a spreadsheet (see Appendix A) to calcu- late the profit for 0, 1, 2, …, 6 week
Use the data in Example 1–5.
(a) What is the total score for each offer if the three objectives have the same weight?
(b) Holding livability’s weight constant, how important does family have to be for offer A to
be the best choice? Remember that the weights must sum to 1.
(c) Holding family’s weight constant, how important does livability have to be for offer C to
be the best choice?
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