6. Estimate the construction cost of a house using the following estimates:
Cost Data
House Data lot size = 100x150 ft
Purchasing a lot = $2.50/ft^2; Construction = $130/ft^2 livable space; Furnishings = $3000 per room;
house size = 50x46 with 75% livable number rooms = 6
(a) $18,000
(b) $37,500
(c) $224,250
(d) $287,500
(e) $287,250
7. A 100,000 barrel per day (BPD) fractionation tower cost $1.2 million when the Chemical Engineering plant cost index value was 394.3. How much would a 300,000 BPD plant cost (in $millions) when the index value is 575.8, provided the exponent in the cost-capacity equation is 0.67?
(a) $2.317
(b) $2.861
(c) $3.124
(d) $3.658
(e) $3.992