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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is the first phase in the equipment life cycle?
💡 Hint: It begins with acquiring the machine.
Question 2
Easy
Define downtime in the context of equipment.
💡 Hint: Consider repairs or maintenance when answering.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What does economic useful life refer to?
- The time period before a machine fails
- The period of minimum costs or maximum profits
- The age of the machine
💡 Hint: Think about both cost and profits in terms of timing.
Question 2
True or False: Downtime refers to the time when machinery is under maintenance.
- True
- False
💡 Hint: Consider machinery's operational status.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
Imagine you have two machines: Machine A with minimal repair costs for the next two years and Machine B with increasing costs. How do you decide when to replace?
💡 Hint: Review cost trends and project future expenses.
Question 2
A machine was purchased 5 years ago for $50,000. Its operational cost is rising by 10% annually. Calculate the future value of this machine after another 5 years considering inflation.
💡 Hint: Include the compounding effect in your calculations.
Challenge and get performance evaluation