All designs considered are satisfactory so that the emphasis is on selecting the alternative with the lowest costs or if economic considerations do not prevail, the additional costs are noted. Probability, deprecation and income tax are covered in some detail. Knowledge of presentation used in engineering solutions 2. Basic algebraic skills 3. Ability to translate a written problem into a mathematical problem.
Text includes disk with economic analysis software.
Why a selection is made is of equal importance to how the selections are computed. Probability of consequences is factored into solutions. Consequences of not selecting the most economical alternative are discussed as a part of the political decision making process.