Industrial Engineering and Production Management
The aim of value engineering is to

Minimize the cost without change in quality of the product
Determine the selling price of a product
All of these
Find the depreciation value of a machine

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Industrial Engineering and Production Management
In queuing theory, the nature of the waiting situation can be studied and analysed mathematically if

Complete details of items in, waiting line are known
All variables and constants are known and form a linear equation
The laws governing arrivals, service times, and the order in which the arriving units are taken into source are known
Arrival and waiting times are known and can be grouped to form a waiting line model

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