Project #80386 - Engineering Economic

1. Stan Moneymaker needs 16 gallons of gasoline to top off his automobiles's gas tank. If he drives an extra eight miles (round trip) to a gas station on the outskirts of town, stan can save $0.15 per gallon on the price of gasoline. Suppose gasoline costs $3.30 per gallon and Stan's car gets 23 mpg for in town driving. Should stan make the trip to get less expensive gasoline? Each mile that Stan drives creates one pound of carbon dioxide. Each pound of C02 has a cost impact of $0.04 on the environment. What other factors (cost and otherwise) should Stan consider in his decision making?  (Round to four decimal places. for final answer)

2. Automobile repair shops typically recommend that their customers change theirs oil and oil filter every 3,000 miles. Your automobile user’s manual suggests changing you oil every 5,000-7,000 miles. If you drive your car 15,000 miles each year and an oil and filter change costs $30, how much money would you save if you had this service performed every 5,000 miles? (round tho the nearest cent the final answer)

3. . Tyler just wrecked his new Nissan, and the accident was his fault. The owner of the other vehicle got two estimates for the repairs: one was for $803 and the other was for $852. Tyler is thinking of keeping the insurance agencies out of the incident to keep his driving record “clean”. Tyler’s deductible on his comprehensive coverage insurance is $500, and he does not want the premium to increase because of the accident. In this regard, Tyler estimates that his semiannual premium will rise by $60 if he files a claim against his insurance company. In view of the above information, Tyler’s initial decision is to write a personal check for $803 payable to the owner of the other vehicle. Did Tyler make the most economical decision? (as opposed to claiming to the insurance company)?  What other options should Tyler have explored depending on assumption made? (round to the nearest dollar, final answer)

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Due By (Pacific Time) 08/29/2015 03:00 pm
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