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6. The start up are running business and want to minimize equipment expenses. For a particular piece of equipment, the costs can be broken into initial outlays to buy the equipment, fixed annual expenses to keep the equipment in the inventory, and repair costs which we anticipate rising as the equipment gets older. A widget press costs 10,000B to buy, and the operating expenses are 500 per year, and the total repair costs are 300t² over the first t years. What is the optimal length of time to use a widget press before replacing it? You should shown your answer algebraically and graphically.

6. The start up are running business and want to minimize equipment expenses. For a particular piece of equipment, the costs can be broken into initial outlays to buy the equipment, fixed annual expenses to keep the equipment in the inventory, and repair costs which we anticipate rising as the equipment gets older. A widget press costs 10,000B to buy, and the operating expenses are 500 per year, and the total repair costs are 300t² over the first t years. What is the optimal length of time to use a widget press before replacing it? You should shown your answer algebraically and graphically.

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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6. The start up are running business and want to minimize equipment expenses. For a particular piece of equipment, the costs can be broken into initial outlays to buy the equipment, fixed annual expenses to keep the equipment in the inventory, and repair costs which we anticipate rising as the equipment gets older. A widget press costs 10,000B to buy, and the operating expenses are 500 per year, and the total repair costs are 300t² over the first t years. What is the optimal length of time to use a widget press before replacing it? You should shown your answer algebraically and graphically.
Transcribed Image Text:6. The start up are running business and want to minimize equipment expenses. For a particular piece of equipment, the costs can be broken into initial outlays to buy the equipment, fixed annual expenses to keep the equipment in the inventory, and repair costs which we anticipate rising as the equipment gets older. A widget press costs 10,000B to buy, and the operating expenses are 500 per year, and the total repair costs are 300t² over the first t years. What is the optimal length of time to use a widget press before replacing it? You should shown your answer algebraically and graphically.
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