Why is it important to define the range of accuracy

Assignment Help Mechanical Engineering
Reference no: EM131202680

Why is it important to define the range of accuracy, in percentage, that should be applied to any estimate? Who should set this range and who should be informed of the selected range?

Reference no: EM131202680

Questions Cloud

Estimate of doubtful accounts have on income statement : The following is taken from the asset section of a recently issued annual report ($ in millions): Loans, net of unearned income $244,206 Allowance for possible credit losses (6,679) What sort of business do you think this company is in? What effect d..
Describe the concept and process of partnering : Review published articles that describe the concept and process of partnering, and list major differences between partnering and traditional methods of contracting strategies.
Prepares a cost estimate at different times : Usually each of the three principal parties (the owner, designer, and contractor) prepares a cost estimate at different times during the life of a project. Describe the purpose of each estimate and the impact that estimating errors may have on the..
Why is it important to define the range of accuracy : Why is it important to define the range of accuracy, in percentage, that should be applied to any estimate? Who should set this range and who should be informed of the selected range?
Analysis to reveal whether stock and debt : Strategy Implentation for Chick-Fil-A- Show and explain the earnings per share/earnings before interest and taxes (EPS/EBIT) analysis to reveal whether stock, debt or combination is best to finance your recommendations. Graph the analysis.
What net annual income must be received to economically : Assuming the owner must obtain a return on the initial investment of 15%, what net annual income must be received to economically justify the project? Assume no salvage value after using the facility for 12 years.
Identify and report on recent news articles : Identify and report on recent news articles that pertain to current trends in legal protection of intellectual property rights.
Annual interest rate implicit in this agreement : On April 1, 2016, John Vaughn purchased appliances from the Acme Appliance Company for $1,700. In order to increase sales, Acme allows customers to pay in installments and will defer any payments for six months. John will make 18 equal monthly paymen..

Reviews

Write a Review

Mechanical Engineering Questions & Answers

  Determine the force supported by each wire

Determine the force supported by each wire when the engine is suspended from them.

  Determine the magnitude of its average velocity delta

the position vector of a particle moving in the x-y plane at time t3 sec is rt32i-3j m. at time t5 sec its position

  The water is brought to the vapor state at 300oc and

liquid water at 180oc and 1002.7 kpa has an internal energy on an arbitrary scale of 762.0 kj kg-1 and a specific

  Acceleration of gravity

If superman has a mass of 100 Kg on his birth planet Krypton, where the acceleration of gravity is 25 m/s2, determine

  Examine deflection of an i-beam under a point load

The purpose of this project is to introduce you to the application of FEA by using the ANSYS software to examine the deflection of an I-beam under a point load.

  Carbon dioxide gas undergoes process in closed system

Carbon dioxide (CO2) gas undergoes a process in a closed system from T1=100 F, p1=20 lbf/in^2 to T2=400 R,p2=50 lbf/in^2. The entropy produced due to internal irreversibilities during the process is determined to be 0.15 Btu/R per lb of gas.

  Determine the highest possible average flow velocity in duct

The 60W fan of a central heating system is to circulate air through the ducts. The analysis of the flow shows that the fan needs to raise the pressure of the air by 50Pa to maintain flow. The fan is located in a horizontal flow section whose diameter..

  Phenomenon of luminescence

1. (a) In your own words describe briefly the phenomenon of luminescence. (b) What is the distinction between fluores- cence and phosphorescence?

  Draw the qualitative influence line for the moment at b

Draw a qualitative influence line for the reaction at support A for the beam - Draw the qualitative influence line for the moment at B.

  Derive laplace transform by integration from basic integral

Derive Laplace transform by integration from basic integral definition. Do not use laplace transform tables or associated theorems. Refer to standard integral tables.

  Design a process to produce a 05 cm-diameter steel shaft

design a process to produce a 0.5 cm-diameter steel shaft having excellent toughness yet excellent wear and fatigue

  Calculate the molar concentration of hydrogen

Calculate the Molar concentration of hydrogen on both sides, Molar flux of hydrogen and mass flux of hydrogen

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd