Research Article
Mar 1972
Sensitivity Analysis of Douglas Equipment Life Model
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VIEW THE REPLYPublication: Journal of the Construction Division
Volume 98, Issue 1
Abstract
The Douglas Model is a complex mathematical model used to determine the optimal economic life of construction equipment. It has a large number of input parameters. Many of the input parameters are based on predictions of uncertain future events. Monte Carlo simulation was used to study the sensitivity of the Douglas Model to random errors in the determination of the input parameters. The uncertainty of the parameters was assumed to be described by normal and beta probability distributions, and 100 simulations were made for each of the assumed distributions. It is concluded that the Douglas Model is not too sensitive to random variation of the input parameters.
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Information
Published In
Journal of the Construction Division
Volume 98 • Issue 1 • March 1972
Pages: 61 - 78
Copyright
© 1972 American Society of Civil Engineers.
History
Published in print: Mar 1972
Published online: Feb 11, 2021
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Authors
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Neal B. H. Benjamin, AM.ASCE
Asst. Prof., Dept. of Civ. Engrg., Univ. of Missouri, Columtia, Mo.
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ASCE Library Cards let you download journal articles, proceedings papers, and available book chapters across the entire ASCE Library platform. ASCE Library Cards remain active for 24 months or until all downloads are used. Note: This content will be debited as one download at time of checkout.
Terms of Use: ASCE Library Cards are for individual, personal use only. Reselling, republishing, or forwarding the materials to libraries or reading rooms is prohibited.
Terms of Use: ASCE Library Cards are for individual, personal use only. Reselling, republishing, or forwarding the materials to libraries or reading rooms is prohibited.