Systems Engineering with Economics, Probability & Statistics

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This extensively revised comprehensive textbook, covering a wide range of topics, is suitable for courses at the graduate and undergraduate levels, each with a different emphasis. There is more than enough material to cover two semesters of an undergraduate course, as well as a one semester graduate course. The pedagogy provides enough flexibility for an instructor to teach the topics in systems engineering she or he would like. Systems Engineering with Economics, Probability and Statistics, Second Edition is sufficiently broad-based for undergraduate and graduate programs in various branches of engineering and management.Key Features:Includes a wide range of topics covering the fundamentals and practice applications of probability and statistics (including advanced topics on statistical analysis, testing and interpretation of engineering data), microeconomics, engineering economics, hard systems (such as linear programming, decision analysis, CPM, LOB and PERT), soft systems analysis (such as Checklands method), and sustainable development and sustainability applications in engineering planningAvoids the abstract mathematical approach usually found in textbooks on this subject, in favor of one that is geared to practical engineering applicationsIntegrates the power of quantitative analysis, in a very concrete way, with the conceptual richness of economics and systems thinking to deal with engineering problemsExamples and end-of-chapter exercises drives home the fact that answers to problems need not be merely optimal solutions, but must include value tradeoffs and lend themselves to an enriched decision-making process, most suitable for applications in an uncertain world. Numerous open-ended, real-world problems are includedIncludes a unique chapter on "systems thinking"a first of its kind in a textbook on systems engineering. It covers the most recent soft systems structuring methods available in dealing with complexity, uncertainty, and conflict. A new case-studies chapter applying soft systems methods is also includedContains two new chaptersone on sustainable development, sustainability, engineering and planning; and the other on case studies dealing with engineering and planning for sustainability