In: Finance
"An aircraft control actuator is part of the flight control
system that enables an airplane to fly. It is important that the
actuators are reliable. Reliability can be defined as the
probability a system is functioning, so it is a number between 0
and 1. One way to increase reliability of the actuator is to
increase the torque. The reliability R as a function of the maximum
torque T (in Newton-meters) is given by
R(T)=0.91*exp(0.027T)
where torque T is between 0.1 and 3.5. The development and
installation cost as a function of reliability equals [$1760+
$11007*(In R)], which will be paid immediately. Maintenance on the
actuator will occur in year 6 and in year 12. In each year the
maintenance cost as a function of reliability R is
[$1350/ln(1.45R)]. Assume the interest rate is 10%.
What is the optimal torque design (a number between 0.1 and 3.5
rounded to the nearest tenth) of the actuator that minimizes the
discounted lifecycle costs of the actuator? (You do not need to
calculate annual equivalent cost, but you do need to calculate the
present value of the costs.)"
Solution :
Approach: Used excel to minimize the total cost ( installation cost + maintenance cost (in present value)
Step 1: Assumed T=2.5
Step 2: Calculated reliability R as given in excel
Step 3: Calculated cost of installation based on this R
Step 4: Calculated maintenance cost for year 6 and 12 and then discounted it with 10%
Step 5: Add maintenance and installation to get total lifecycle cost
Step 6: Open solver in excel, and set the minimization objective for cell B10 (total cost)
Step 7: after setting all the constraints hit enter to get the minimum value of cost as 4915.185 when torque value is 1.9205.
Ans: T = 1.9205