How many days does it take until hybrid heater has the lowest total cost? (Your answer should be a whole number of days.)

A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
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A household's hot water heater has broken and they can choose to replace it with an electric or a hybrid solar-electric model. The electric model costs $1,400 to install and $2.8 per day in electricity costs there-after. The hybrid model costs $3,400 to install and $1.2 per day in electricity costs there-after.

How many days does it take until hybrid heater has the lowest total cost?

(Your answer should be a whole number of days.)

Expert Solution
Step 1

Here given A household's hot water heater has broken and they can choose to replace it with an electric or a hybrid solar-electric model.

The electric model costs $1,400 to install and $2.8 per day in electricity costs there-after.

The hybrid model costs $3,400 to install and $1.2 per day in electricity costs there-after

Here we get two equation for total cost of each model

And then equavet both equation .

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