Engineering Economics and Statistics. ((3 Credits))

Catalog description

Prerequisite(s): MATH 1210 Covers fundamental engineering economic topics and introduces concepts of probability and statistics. Includes economic compound interest and discount rate factors, nominal and effective interest rates, cash flow diagrams, capitalized cost, net present worth analysis, equivalent uniform annual cost, internal rate of return, benefit-cost analysis, basic microeconomics, cost estimation, and cost indexes. Includes probability theories, random sampling, Gaussian distributions, Chi-Squared distributions, hypothesis testing, and analysis of variation.