EECS324
1.
Homework 1
Due 9/6/12
Describe situations when you would need to do the following simulation: Monte Carlo simulation,
Discrete-event simulation, and dynamic simulation?
2. A warehouse manager currently has one truck for local deliveries and is

EECS352
Solution to HW 2
1. a) Park P 3.30: Given:
2/5/13
3 (1 i ) N
log 3 N log(1 i )
N log 3 / log(1 i )
(i)
i (1 0.0225)4 1 9.31% : N 12.34 years
5 points
(ii)
i (1 0.09 / 12)12 1 9.38% : N 12.25 years
5 points
(iii)
i e0.09 1 9.42% : N 12.21 years
5 p

EECS352
Solution to HW 10
04/16/13
1. (30 points, 10 each)
a) As shown in the spreadsheet in the table below, the future worth of the project is over $1.8 million,
the payback period with interest is 7 periods and the project is fairly risky as it spends

EECS352
Homework 10
Due 04/23/13
1. An investment of $400,000 is made at time zero. Revenues are expected to be either $80000, $90000, or $100000
in year 1, with equal probability. In addition, revenues will grow either $10,000 per year, with p robability

EECS 352
Solution to HW 5
02/28/13
1. Park Problem 4.3: (10 points)
Average inflation rate from 2001 to 2006 f:
144.5(1 f )5 170.6
f 3.3766%
If the base period is reset to be 2001 (i.e. the price index for 2001 is reset to be 100), then
The price index fo

EECS352
Homework 4
Due 02/21/13
1. Park Problem 5.16 (when (reinvestment) interest rate is changing):
Consider the following investment project:
n
An.
i%
0
-$4,000
9%
1
$3,400
12%
2
$3,400
10%
3
$1,500
13%
4
$3,500
12%
5
$4,300
10%
Suppose, as shown in th

EECS324
Homework 8
Due 11/20/12
1. Consider the following one dimensional dynamic system
y yt 3 1.5 y, y(0) 1;
(1)
1.5t t 4 4
a) Show that the solution to (1) is of the form y (t ) e
. What happens at t increases to a very large
value? Plot the solution b

EECS324
Homework 5
Due 10/09/12
1. A small grocery store has only one checkout counter . Customers arrive at this checkout counter at random times
that are from 1 to 10 minutes apart. The inter-arrival time T in minutes varies from 1 to 10 and is assumed

EECS352
Homework 7
Due: 4/2/13
Cost Basis:
1. a) Park Problem 9.5: You purchased a new molding machine for $105,000 by trading in a similar machine that
had a book value of $15,000. Assuming that the trade -in allowance was $20,000 and that $85,000 cash w

EECS352
Homework 8
Due 04/09/13
1.
A 500-MW power plant is to be built. An older 400-MW plant was constructed at the cost of $400
million.
a) If the scaling factor (m) is 0.6, what is the estimate of the cost of the new plant?
b) Would an index method be

EECS324
Homework 2
Due 9/13/12
1: BCNN Problem 2.2:
A baker is trying to figure out how many dozens of bagel s to bake each day. The probability distribution
of the number of bagel customers is as follows:
# of customers/day:
8
10
12
14
Probability:
0.35

EECS352
Homework 2
Due 2/5/13
1. Equivalence calculation with discrete- and continuous-compounding:
a) How many years will it take an investment to triple if the interest rate is 9 % compounded: (i) quarterly?; (ii)
monthly?; (iii) continuously? (Park Pro

EECS352
Homework 6
Due Wed 03/06/13
Comparing Mutually Exclusive Options:
1. Park 5.36
Consider the following two mutually exclusive projects:
Net Cash Flow
End 0f Year
Project A
Project B
0
-$1,000
-$1,000
1
$912
$284
2
$684
$568
3
$456
$852
4
$228
$1,13

EECS352
Homework 9
Due 04/16/13
1 a) An investment of $2.5 million is spread evenly over two years and is followed by revenues of $750,000 in year
1, increasing 10% each year thereafter, against constant costs of $150,000 per year. What are the project
ba

EECS 352
Homework 3
Due 02/12/13
Evaluating Economic Viability of an Economic Option using PW, FW and EAW:
1.
Park Problem 5.12+: You are considering producing a new golf ball for sale in China to meet a growing
demand in the region. This golf ball is les

EECS352
Homework 5
Due 2/28/13
Inflation Index:
1. (Park Problem 4.3) The following data indicate the price indices of lumber (price index for the base
period (1982-1984) = 100) during the last six years:
Year
Price Index
2001
2002
2003
2004
2005
2006
200

EECS 324
Simulation Concepts
and Examples
Vira Chankong
Electrical Engineering and Computer Science
Case Western Reserve University
9/5/2013
Vira Chankong
EECS. CWRU
1
Course Schedule
Date
Topics
Readings
Text (A&M)
Supplements
Introduction:
9/4 Simulatio

Simulation and Risk Analysis of Real Estate Problem
Building cost/sq. ft
Rent/sq. ft
Operating expenses/sq. ft
Avg. vacancy rate
triangular
triangular
triangular
triangular
Total square feet
Straight line Depreciation for
Rate-of-Return MARR
Effective Tax

EECS 324
Data Analysis and Input Modeling
A&M Chapter 7, BCNN Ch 9
Part 2: Test of Randomness and Independence
Vira Chankong
Electrical Engineering and Computer Science
Case Western Reserve University
9/24/2013
Vira Chankong
EECS. CWRU
1
Test of Randomnes

EECS 324
Discrete-Event Simulation:
Fundamental Concepts through Examples
A&M Chapter 4
BCNN Chapters 1, 3, 4, 6
Electrical Engineering and Computer Science
Case Western Reserve University
1
Course Schedule
Date
Readings
Text (A&M)
Supplements
Topics
Stoc

EECS 324
Discrete-Event Simulation:
Fundamental Concepts through Examples
A&M Chapter 4
BCNN Chapters 1, 3, 4, 6
Electrical Engineering and Computer Science
Case Western Reserve University
1
Course Schedule
Date
Readings
Text (A&M)
Supplements
Topics
Stoc

Sheet1
A
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
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17
18
19
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21
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B
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G
Example 3: Video Store
Number of Copies bought=
Rental
4 $/copy
Day #
Rand
3@
End-of-month sale at
Demand
# Rented
25 $/cop

EECS 324
Static Stochastic Simulation
and Monte Carlo Simulation
Reference: BCNN Chapter 2 and EXCEL files
Vira Chankong
Electrical Engineering and Computer Science
Case Western Reserve University
9/10/2013
Vira Chankong
EECS. CWRU
1
Course Schedule
Readi

EECS 324
Introduction to
Computer Modeling
and Simulation
Vira Chankong
Electrical Engineering and Computer Science
Case Western Reserve University
9/2/2013
Vira Chankong
EECS. CWRU
1
What we will do today?
What is simulation?
Why simulation?
When to s

Course Overview:
Simulation Techniques for Engineering
EECS 324
Fall 2013
Vira Chankong
Electrical Engineering and Computer Science
Vira Chankong, EECS
9/5/2013
1
Course Goals
To learn the principles and techniques of simulation as
a powerful system tool

Overview of
Engineering Economics and
Decision Analysis
EECS 352
Fall 2011
Vira Chankong
Electrical Engineering and Computer Science
Vira Chankong, EECS
8/30/2011
Engineering Economy
Focus on decision problems that
involve a large capital investment
that