Select an engineering problem from an organization of your choice and apply the 5-step engineering problem solving approach in detail for the problem to be solved. Also comment on the simplicity of...

Select an engineering problem from an organization of your choice and apply the 5-step engineering problem solving approach in detail for the problem to be solved. Also comment on the simplicity of the steps involved in the problem-solving approach.

If you have no idea of the economic probabilities pj in Question 5-4, what would be your decision based on uncertainty using (a) maximax, (b) maximin, (c) equally likely, and (d) minimax regret assumptions?