Olcay Türkoğlu (3rd week unanswered terms)

Fit (for dimensioning and tolerancing): The rate of looseness or tightness that can result from the applicationof a specific combination of allowance and tolerance in the design of the mating part features.
Payback Period Method: The payback method uses the simple concept that the net revenues derived from an investment should pay back the investmnent in a certain period of time (payback method).

Assuming for the moment that the net annual cash flows are positive and equal from one year to next, the payback period can be defined as follows;

n=IC/NACF, IC: Initial cost of investment project, NACF: Net annual cash flow