Question: Could someone please help me with this? 2. The offshore-wind company is considering purchasing a 50-tonne capacity tower crane in three year's time. Previously, in

Could someone please help me with this?

Could someone please help me with this? 2. The offshore-wind company is

2. The offshore-wind company is considering purchasing a 50-tonne capacity tower crane in three year's time. Previously, in 2014 they had purchased a similar tower crane with a 27-tonne capacity for $1.8 million dollars. The current producer price index for lifting and material handling equipment is 235, while the index was at 215 in 2014. Current inflation rates are 2.5% per annum. i. Using the six-tenths rule to account for the change in capacity, estimate the approximate price of tower crane with a 50-tonne capacity in three year's time. ii. What is the estimated price if you assume a linear scaling law for the relationship between price and capacity instead? 2. The offshore-wind company is considering purchasing a 50-tonne capacity tower crane in three year's time. Previously, in 2014 they had purchased a similar tower crane with a 27-tonne capacity for $1.8 million dollars. The current producer price index for lifting and material handling equipment is 235, while the index was at 215 in 2014. Current inflation rates are 2.5% per annum. i. Using the six-tenths rule to account for the change in capacity, estimate the approximate price of tower crane with a 50-tonne capacity in three year's time. ii. What is the estimated price if you assume a linear scaling law for the relationship between price and capacity instead

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