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An infinite-life replacement chain allows projects of different lengths to be compared.
Binary Variable
A variable that has only two possible values, typically 0 and 1, to indicate absence or presence, respectively.
Binary Variable
A variable that has only two possible values, typically 0 and 1, used to represent outcomes such as success/failure, yes/no, or true/false.
Net Present Value
The difference between the present value of cash inflows and the present value of cash outflows over a period of time.
Binary Variable
A variable that has only two possible values, often represented as 0 and 1, used to denote presence or absence, success or failure, and similar dichotomies.
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