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1) Define uncertainty. What are some of the basic causes of uncertainty in engineering economy studies?
2) Will the increased use of automation increase the importance of engineering economy studies? Why or why not?
3) Make recommendations about whether jet airplanes for an overnight delivery service should be purchased or leased. Apply the 7 principles of engineering economy
What rules of thumb can we use from this book to improve our modelling in engineering Economics?
a. Read and comment about the following statement and question:
Why is so important to know the variety of costs to be considered in an engineering economic analysis? (Sullivan W., Wicks E. & Patrick C., 2012, page 21.).
