Final answer:
In engineering economic analysis, the statement that is NOT associated with sunk costs is the cost of the least feasible alternative.
Step-by-step explanation:
In the context of engineering economic analysis, the statement that is NOT associated with sunk costs is c. Cost of the least feasible alternative. Sunk costs refer to costs that have already been incurred and cannot be recovered, regardless of the current decision.
They should be disregarded in decision-making as they are irrelevant to future outcomes. On the other hand, the cost of the least feasible alternative is a relevant cost that should be considered in engineering economic analysis.