A grower estimates that if he picks his apple crop now, he will obtain 1000 boxes of apples, which he can sell at $30 per box. However, he thinks his crop will increase by 120 boxes of apples for each week he delays picking, but that the price will drop at a rate of $1.50 per box per week; in addition, he estimates that approximately 20 boxes per week will spoil for each week he delays picking. (a) When should he pick his crop to obtain the largest total cash return? How much will he receive for his crop at that time? (b) Build a spreadsheet to calculate the profit for 0, 1, 2, …, 6 weeks.
A grower estimates that if he picks his apple crop now, he will obtain 1000 boxes of apples, which he can sell at $30 per box. However, he thinks his crop will increase by 120 boxes of apples for each week he delays picking, but that the price will drop at a rate of $1.50 per box per week; in addition, he estimates that approximately 20 boxes per week will spoil for each week he delays picking. (a) When should he pick his crop to obtain the largest total cash return? How much will he receive for his crop at that time? (b) Build a spreadsheet to calculate the profit for 0, 1, 2, …, 6 weeks.
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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A grower estimates that if he picks his apple crop now, he will obtain 1000 boxes of apples, which he can sell at $30 per box. However, he thinks his crop will increase by 120 boxes of apples for each week he delays picking, but that the price will drop at a rate of $1.50 per box per week; in addition, he estimates that approximately 20 boxes per week will spoil for each week he delays picking. (a) When should he pick his crop to obtain the largest total cash return? How much will he receive for his crop at that time? (b) Build a spreadsheet to calculate the profit for 0, 1, 2, …, 6 weeks.
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