2. Alpha Car Rental Agency plans to purchase five new automobiles to replace five older vehicles. The older vehicles are to be sold at auction. The agency has solicited from five individuals, each of whom wishes to buy only one vehicle but has agreed to make a sealed bid on each of the five. The bids are as follows in terms of (10,000): The agency wishes to determine which bid to accept from each of the five bidders so that each of them can buy one vehicle accepted bids is a maximum. (Maximization Problem) Automobiles Buyers Toyota Mitsubishi Ford Chevrolet Nissan 1 12 20 10 8 7 2 10 13 11 9 14 3 5 6 10 7 3 4 9 7 10 9 11 10 14 12 10 6 5
2. Alpha Car Rental Agency plans to purchase five new automobiles to replace five older vehicles. The older vehicles are to be sold at auction. The agency has solicited from five individuals, each of whom wishes to buy only one vehicle but has agreed to make a sealed bid on each of the five. The bids are as follows in terms of (10,000): The agency wishes to determine which bid to accept from each of the five bidders so that each of them can buy one vehicle accepted bids is a maximum. (Maximization Problem) Automobiles Buyers Toyota Mitsubishi Ford Chevrolet Nissan 1 12 20 10 8 7 2 10 13 11 9 14 3 5 6 10 7 3 4 9 7 10 9 11 10 14 12 10 6 5
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Transcribed Image Text:2. Alpha Car Rental Agency plans to purchase five new automobiles to replace five older
vehicles. The older vehicles are to be sold at auction. The agency has solicited from
five individuals, each of whom wishes to buy only one vehicle but has agreed to make a
sealed bid on each of the five. The bids are as follows in terms of (10,000): The agency
wishes to determine which bid to accept from each of the five bidders so that each of
them can buy one vehicle accepted bids is a maximum. (Maximization Problem)
Automobiles
Ford
Buyers Toyota
Mitsubishi
Chevrolet
Nissan
1
12
20
10
7
2
10
13
11
14
3
5
6
10
7
3
4
7
10
9
11
10
14
12
10
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