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Examen 11/01/2018

Theory and exercise questions are mixed:
Question 1 -What are direct, indirect, shared and common cost -Give a production example en mention 2 examples for each kind of these costs. Explain in a few sentences why

Question 2 Data: Overhead cost €40/h Selling price: €30 Material cost: €4 Process A: Prod rate: 35 parts/h Prod time: 4 hours/day Rejected parts: 20% Process B: Prod rate: 15 parts/h Prod time: 7h/d Rejected parts: 9%
-What process maximizes profit? -What are operational efficiency and energy efficiency? Are they applicable in the example above? Explain -Define cost price and profit, compare with example above - What is a present economic study? And is this example one?

Question 3 Given: data of I’s from 2014 (200) to 2019 (289) Cost of 2014 is 250000
-What is cost in 2019? -This is the index technique, explain this and what are its characteristics? -Where can you find the index in real life?

Question 4 Child will live 100 years, parents start saving €10/year, child takes over at age of 20. Annual interest rate is 5%
-What will be the amount when the child is 100? -What if continuous compounding? -Explain nominal interest and effective interest. Make clear what the compounding period does.

Question 5 City cleaning company gets €6 million now for their services for the next 50 years. These services are valued as €350 000 in year 1, €375 000 in year to and so on (+€25 000 every year).
-Draw a cash flow diagram for the first 10 years -Should the company accept the offer? Company cost of capital is 10%. -If it was a public actor instead of a commercial company, is the 50 year contract and 10% realistic? Or will there be differences?

Question 6 Two alternatives, endless study period, MARR = 10% First alternative: initial investment of €500 000, first 20 years expenses of €20 000/year, after that €30 000/ year. Every 20 years single investment of €200 000 Second alternative: initial investment of €700 000, expenses €10 000/year forever, one time extra investment in year 30 of €300 000
-Draw CF diagrams for the first 35 years for both alternatives -What is the study period, which technique should you use for this? -Which option should you choose?

Question 7 Challenger data: space vacuum seal, 12 000 initial investment, salvage value 0 at every point, expenses 0 in years 1-2-3, 2000 in year 4-5, 4500 in year 6, +2500 for every year thereafter. MARR=10
-What are economic, physical and useful life? Give definitions and what are the connections between them. Explain -Give the three reasons for replacing the defender. Which ones are for obsolescence reasons (defender is not broken). Link to example above. -What is the economic life of the challenger? Explain your formulas and calculations and write a clear table.

Question 8 Data: A: PW(cost) = 123 million; PW(profits) = 139 million B: PW(cost) = 135 million; PW(profits) = 150 million C: PW(cost) = 9 million; PW(profits) = 114 million All independent.
-Which projects should be selected? -What is the ranking order of the projects? -Assume 10% of the costs are disbenefits, changes this anything to the ranking order? -Where was the B/C-ratio technique first used? Where is it applicable now?

Examen 27/01/2018

1/ ik heb een auto die al wat ouder word. Een kenner heeft de waarde geschat op 2500€. Een half jaar later breekt mijn transmissie en ik vervang die met een kost van 1500€. Enkele dagen later krijg ik een bod van 3200€. -Neem ik dit bod aan ja/nee, waarom? -Welk fenomeen kan hier in gezien worden, geef een definitie.

2/ ik verkoop handtassen, de prijs is gegeven door 5+4800/D - 3000/D^2. Mijn vaste kost is 2000 en de productie heeft een variabele kost van 35€ per stuk.

-Hoeveel handtassen maak ik ideaal per maand? -bewijs dat dit het optimaal punt is. -wat is het break even punt -teken de typische grafieken van deze situatie. -geef twee voorbeelden van een fixed en een variable kost voor deze productie

3/ pas toe, de Zn = Z1 n^... en leg het verschil uit met een economies of scale effect.

4/ Bewijs de formule van annuity komende van de formule van een future worth. (Derive (P/A,i%,N))

5/ Given: endowment and cash flows in later years -Draw up a cash flow diagram -Modify cash flow diagram -Calculate unknown cash flow X -Explain capitalized worth in the context of endowments and give two examples of endowments in real life.

6/ Exercise: Selection between MEAs with different useful lifes -repeatability assumption -coterminated assumption (imputed market value)

7/ Exercise: Replacement analysis. Defender/challenger with different useful lifes. -Give three reasons why a defender might need to be replaced.

8/ wat is een real option? Geef en leg uit, het 7S framework. Is een real option handig voor de engineering economics cursus?