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The Effect of Probability Distribution Functions of Economic Life on Retirement Alternatives
Authors:M Jeya Chandra  Richard Guild
Institution:The Pennsylvania State University
Abstract:Economic analysis, supported by computer hardware and software, can easily overwhelm a decision maker with data. However, this data can be organized in a readily understandable way using well-designed graphs. Some simple guidelines suggest substantial improvements over available examples from papers and textbooks. Although these graphs and sensitivity analyses are useful in many quantitative problems, the long-range focus of engineering economy and its concomitant uncertainty dramatically increase their value.
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