Use of Response Surface Methodology to Select a Cutting Tool to Maximize Profit

A technique is presented which uses Response Surface Methodology to select a cutting tool in order to maximize profit. Different tools are analyzed to determine what combinations of cutting speed, feed, and depth of cut will give maximum profit for each kind of tool. Only then may different tools be compared. There is a possibility that the tool which is capable of yielding maximum profit may be most economical at operating conditions which are somewhat anomolous. With conventional tests a suboptimal tool may be selected, or the best tool may be used at suboptimal operating conditions. The contribution of this article is the expression of profit as a function of the direct physical decision variables and the subsequent optimization. The use of these techniques with economic decision theory is unique.