Applied Economics in US Manufacturing
A tool that estimates the costs that US manufacturers face and can be used to help gauge the potential returns on manufacturing industry research projects through cost reductions. The tool can be used to answer questions such as:
This tool makes simulation simple. It is used to implement Monte Carlo analysis, which uses probabilistic sensitivity analysis to account for uncertainty. This tool is developed to follow the simulation segment of ASTM E1369.
This Excel tool implements the methods discussed in NIST Advanced Manufacturing Series 200-5, which is a guide to Investment analysis. The tool implements the following methods: