ENG106W12_HW1-solution - ENG106 Homework #1 Solution Winter...

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ENG106 Homework #1 Solution Winter 2012 Question 1. You’ve decided to buy a Toyota Prius because of the (recently) high price of gasoline. Like every car, a Prius wears as it ages, providing less in psychological benefits and costing more for maintenance and repair in future years. Therefore you’d like to determine the optimal length of time to keep the Prius before buying a new one. a) What might be one or more possible objectives (“wants”) Minimize average yearly cost Maximize years of use Maximize resale value Minimize initial and annual CO 2 emissions b) List three or more possible constraints (“needs”) Needs warranty throughout ownership period Needs to be sold prior to major depreciation period Availability during ownership period Repair costs during ownership period c) What are the decision variables for this problem? How long to keep before buying a new Prius. (years) d) List at least five pieces of information you might need in order to make a rational decision. The yearly price costs under owning or leasing schemes.
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This note was uploaded on 04/03/2012 for the course ENGIN 106 taught by Professor Fizali during the Spring '12 term at Laney College.

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ENG106W12_HW1-solution - ENG106 Homework #1 Solution Winter...

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