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MAXIMUM PROFIT AS THE CRITERION IN
Marginal Principle for Economic Balance
19 other sections not shown
approximately basic model best fit CALCULATES carbide tool carbide tool-life data centroid confidence interval Constant unit revenue cutting speed range decision matrix decreasing demand curves demand function depth of cut determined duction effect of experimental estimates experimental error Figure 17 given by equation increases independent variables joint confidence region least squares likelihood function logarithmic scale logarithmic transformation machining economics marginal cost marginal revenue matrix maximum production rate maximum profit maximum-profit cutting speed minimax minimum cost minimum RSS minimum-cost cutting speed minutes operating OPSTO optimum cutting conditions orthogonal transformation pcs/min predicting equation prediction of tool profit response profit versus cutting PUNCH relationship residual sum RSS contour diagrams sfpm shown in Figure speed for minimum sum of squares Taylor's equation tion tool cost Tool material tool-life equation total cost Total revenue curves trans uncertainty unit-cost curves values versus cutting speed