Abstract
The equations for cost and production rates which divide Gilbert's basic model into several elements of shop work are suggested as a mean of determining the economically optimum machining conditions. The cutting speed for minimum cost or maximum production rate is not uniquely defined, but lies within a confidence interval, on account of variations in the parameters of the tool life equation. From within the confidence interval a specific speed is selected by applying the minimax principle. The computer program for the determination of optimum cutting conditions is written, taking account of the restrictions arising out of the selection.
