Fundamentals of Systems Engineering with Economics, Probability, and Statistics

Based on the reality that today's engineers need a broad range of decision-making skills, this unique reference draws together--into a single comprehensive volume--all the fundamental principles of systems analysis (both hard and soft systems), economics (particularly microeconomics), probability, and statistics that engineers need to develop a rich, multifaceted perspective from which to tackle--and solve--complex engineering problems. The emphasis throughout is on presenting the fundamental concepts and their practical engineering applications, unobscured by complicated mathematics. Using a large number of worked examples, it integrates the power of quantitative analysis with the conceptual richness of capital budgeting and microeconomics into the elements of systems engineering. Coverage is broad-based and applicable for engineers in practically all branches of engineering. The Systems Approach. Problem Solving in Engineering & Planning. Basic Engineering Economics & Evaluation. Basic Micro Economics for Engineers & Planners. Principles of Probability (Probability Theory; Random Variables and Probability Distributions; Joint Probability Functions and Correlated Variables). Principles of Statistics (Estimation of Statistical Parameters and Testing Validity of Distribution Functions; Hypothesis Testing, Analysis of Variance, Regression and Correlation Analysis). Basic Hard Systems Engineering. Basic Soft Systems Thinking & Analysis. For Civil, Chemical, Electrical, Environmental, Mechanical, and Industrial Engineers, Urban Planners, Architects, and Construction Managers.