Assignment1

Assignment1 - Name Kanika Singh Person 31764608 Assignment...

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Name:- Kanika Singh Person#:- 31764608 Assignment 1 1) Engineers are involved in almost every aspect of business starting from manufacturing to the marketing and shipping of the products. It is shown that the engineers are responsible for almost 85% of the product costs. While engineering designs, engineers have to keep in mind the costs and availability of the parts required, i.e. one of the most important roles of engineers in business to help it in creating cost effective economical products. Looking at the i-pod intro video, it can be seen that engineers contribute considerably to not only solving design problems but also to economic problems. For example, they have designed something called a “proximity sensor” which enables the phone to save power and subsequently money. Also, they have designed unique software (eg. Os 10 , Multi- touch) which enables the technology to be “5 years” ahead of its competitors. This enables the market for such a product is huge. 2) a) In formulating this as an economic decision we take the following steps:- Recognize the decision problem:- An automobile running on hydrogen needs to
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Assignment1 - Name Kanika Singh Person 31764608 Assignment...

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