ENGR110MidtermExamSolutionsF2010

ENGR110MidtermExamSolutionsF2010 - UCLA Technology...

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UCLA Technology Management & Economics for Engineers and Scientists E110 Midterm Exam Fall 2010 Prof. Bristow Version A Write your first and last name here: _________________________________________ Signature __________________________ Student ID# _________________ I certify I am the above listed person. Write your seat number here ________ and turn in your seat assignment with your exam. Have you taken Eng 111 or 112 before this quarter? If yes, which classes have you taken? ______________________________________ Today’s date is: ___/___/___ Time I began exam: _________ I ended at: ________ The exam is closed book and closed notes; you may use the equation page. There is no talking or questions to be asked during the exam. Only one student may go to the restroom at a time; if you go, leave your cell phone with the proctor. Check to see if your exam packet has __ pages. Select your answers based solely on what you think is the best answer possible given the question as written. If you feel that there is an error or typo in a question or an answer, you are encouraged to write your comments on the exam. If you use the back of the exam write “answer on back” on the front of that page. All comments will be considered when grading the exam. The exams will be collected in one hour and 30 minutes. There are __ questions of different value, so pace yourself so that you finish on time and have time to check your work. There are multiple versions of the exam; the person next to you will not have your version of the exam. Do not even appear to be looking at your neighbor’s exam. There are no trick questions but some questions may have information that you don’t require. Read the question – do not assume what is says; read it carefully. Good luck, relax and think clearly about what you have learned. You will do well.
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Short answer questions (25 points total) Q1. (2 pts) Write out the equation to define gross domestic product (use variables): This question is from the lecture notes GDP = I + G + C + (X-M) Q2. (2 pts) Define all 5 variables on the right side of the GDP equation (use words): I = Investments G = Government C = Consumption X = Exports M = Imports Q3. (2 pts) Complete the following chart regarding recent US GDP data in 2010 (all numbers must be accurate to +/- .1%): This question is form current events Q1 2010 Q2 2010 GDP: 3.7 1.7 Inventory: -2.6 -.8 GDP at final sales: 1.1 .9 Q4. (6 pts) List the approximate historical (1926-2006) annual yields (for the 6 major categories of investments (HINT: Dow is a dozen): This question is from lecture notes Private Equity: 24% Small Cap Stock: 18% Large Cap Stock: 12% Bonds: 6% T-Bills: 4% Inflation: 3% Q5. (5 pts) List the 9 steps involved in the engineering economic analysis framework in their correct order : This question is from chapter 1 1. Recognize the problem 2. Define the goal or objective 3. Assemble relevant data 4. Identify feasible alternatives 5. Select criterion to determine the best alternative 6. Construct a model 7. Predict each alternative’s outcomes or consequences 8. Choose the best alternative 9. Audit the result Q6. (2 pt) What is the current price of oil per barrel? (Numbers must be accurate +/- $5)
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