Glorious Gadgets is a retailer of astronomy equipment. They purchase equipment from a supplier and then sell it to customers in their store. The function C(x) = 4x+63000x¹ + 18000 models their total inventory costs (in dollars) as a function of a the lot size for each of their orders from the supplier. The inventory costs include such things as purchasing, processing, shipping, and storing the equipment. What lot size should Glorious Gadgets order to minimize their total inventory costs? (NOTE: your answer must be the whole number that corresponds to the lowest cost.) -125 X What is their minimum total inventory cost? $ 19004
Glorious Gadgets is a retailer of astronomy equipment. They purchase equipment from a supplier and then sell it to customers in their store. The function C(x) = 4x+63000x¹ + 18000 models their total inventory costs (in dollars) as a function of a the lot size for each of their orders from the supplier. The inventory costs include such things as purchasing, processing, shipping, and storing the equipment. What lot size should Glorious Gadgets order to minimize their total inventory costs? (NOTE: your answer must be the whole number that corresponds to the lowest cost.) -125 X What is their minimum total inventory cost? $ 19004
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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Transcribed Image Text:Glorious Gadgets is a retailer of astronomy equipment. They purchase equipment from a supplier and then sell it to customers in their store. The function \( C(x) = 4x + 63000x^{-1} + 18000 \) models their total inventory costs (in dollars) as a function of \( x \), the lot size for each of their orders from the supplier. The inventory costs include such things as purchasing, processing, shipping, and storing the equipment.
**Question:**
What lot size should Glorious Gadgets order to minimize their total inventory costs? (NOTE: your answer must be the whole number that corresponds to the lowest cost.)
**Answer:**
The answer provided for lot size was \(-125\), which is incorrect.
**Further Question:**
What is their minimum total inventory cost?
**Answer:**
The minimum total inventory cost is \$19,004, which is correct.
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