Course Description
Economics, finance, and computer modelling are applied to engineering decisions
Athena Title
ENG DECISION MAKING
Prerequisite
MATH 2200 or MATH 2250
Semester Course Offered
Offered every year.
Grading System
A - F (Traditional)
Course Objectives
To provide undergraduate students access to elements of quantitative decision analysis including: the decision process; economical and financial consequences of engineering decisions; effects of cash flows, capital costs, depreciation and taxes on decision variables, statistical techniques for alternative development and evaluation; and, statistical quality control.
Topical Outline
Decision process and decision making Compound interest concepts Present worth analysis; financial decision analyses Depreciation, taxes, and inflation Future events estimation Descriptive statistics and presentation Frequency distributions Probability Statistical inference Linear decision models Decision analysis case studies
Syllabus