2.1 - Hourly Maintenance and Repair Costs
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Practice Questions
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Define economic life in your own words.
💡 Hint: Consider how costs change over time.
What is downtime?
💡 Hint: Think about machine's operational time.
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Interactive Quizzes
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What does economic life refer to?
💡 Hint: Focus on cost-effectiveness.
Is downtime a cost?
💡 Hint: Think about productivity impacts.
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Challenge Problems
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Calculate the total projected maintenance costs and downtime costs for a machine over its 8-year economic life, including annual increases and downtime percentages.
💡 Hint: Accumulate yearly costs for a total across the economic life span.
Discuss the implications of obsolescence if a similar model with advanced technology comes to the market after five years.
💡 Hint: Consider competitive advantages of updated technology.
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