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# Lec%207_Full(1) - IE 343 Engineering Economics Lecture 7...

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IE 343 Engineering Economics Lecture 7: Chapter 3 - Cost and Revenue Estimation Instructor: Tian Ni Sep. 7, 2011 IE 343 Fall 2011 1

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Homework 2 is due Friday Sep.9 4:30PM in class. • You can submit your homework to the TAs in the office hour or to me at GRIS376 • We only accept hardcopy/printout • No e-copies or scanned version will be accepted • Late submission will not be accepted. • Please make sure to use the HW2_template • Failure to submit your homework with the template will lead to a grade deduction. IE 343 Fall 2011 Announcement 2
• Quantitative Techniques for Estimation – Cost Indexes – General Weighted Cost Indexes – Parametric cost estimating (Cost Estimating Relationship (CER) development through mathematical techniques) • Power-sizing technique IE 343 Fall 2011 Last Time … 3

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• Finish Chapter 3 - Cost and Revenue Estimation • Quantitative Techniques for Estimation – Parametric cost estimating (Cost Estimating Relationship (CER) development through mathematical techniques) Learning curves Statistical techniques for developing CER (e.g., linear regression) IE 343 Fall 2011 Today … 4
Learning Curve 5 IE 343 Fall 2011

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Definition: As we perform the same task on a repetitive basis , we learn the task and become more efficient. As a result, the number of input resources required for producing each additional unit decreases as the number of units produced increases. IE 343 Fall 2011
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Lec%207_Full(1) - IE 343 Engineering Economics Lecture 7...

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