Department of Industrial and Enterprise Systems Engineering
1. Explain the principle that additional risk should not be undertaken without expectation of additional reward. How would you use this in your own investment strategy?
2. An e-tailer is planning to design and build a robotic packing line to replace the labor intensive operations of packing and labeling products for shipment.
a. Formulate this as an engineering economic decision.
b. What are the data to be gathered?
c. Comment on the time and risk/uncertainty in this decision problem.
3. What are the roles of Engineers in Business? Provide two examples of your choosing.
4. Enumerate the different types of Strategic Engineering Economic Decisions. Present each decision with the help of an example.
5. What are the four principles that must be applied to all Engineering Economic Problems? Describe each in a few words or with the help of an example.