Be able to use the Cost Estimating Relationship method to determine the cost Cpc of a process for a given parameter.
Given a set of data, be able to use Test 1 or Test 2 to determine if the time data is relatively constant or should be treated as variable data.
Be able to use the power law and sizing (with or without inflation) to estimate the cost of a new facility or piece of equipment.
Given appropriate data, cost indexes, and factor curves, be able to use the factor method to estimate the cost of a new facility.
Be able to use planned speed and reference speed and tool life to estimate the tool life equation.
Be able to set up the total processing time and/or cost equations to estimate cost per part.
Given a total processing time, be able to calculate the cutting speed to minimize total processing time.
Given a cost equation, be able to calculate the cutting speed to minimize cost per part.
able to use the Bill of Materials chart and/or table to estimate a unit cost for
Be able to use the productive hour cost method to determine a unit cost for an item.