If a Decision Must Be Made to Replace a Machine

question 12

True/False

If a decision must be made to replace a machine, the book value of the existing machine is a sunk cost and is, therefore, ignored in the decision process.

---

Definitions:

Gelman

A cognitive psychologist known for her work on the development of categorization and reasoning in children, especially in understanding numbers and biology.

Count Words

The process or activity of determining the number of words in a text or document.

Order-Relevant Principle

involves the idea that the sequence or arrangement of elements or events can significantly affect understanding, memory, or perception.

Abstraction Principle

A concept in computer science and mathematics where specific instances are generalized to a set of properties or behaviors, facilitating generality and reuse.