Perth Mining Company operates two mines for the purpose of extracting gold and silver. The Saddle Mine costs $30,000/day to operate, and it yields 50 oz of gold and 3000 oz of silver each of a dayThe Horseshoe Mine costs $16,000/day to operate, and it yields 75 oz of gold and 1000 oz of silver each of y day. Company management has set a target of at least 650 oz of gold and 18,000 ofsilver.(a) How many days should each mine be operated so that the target can be met at a minimum cost?The minimum is C - 288000at (x,y)-(0,18(b) Suppose C cx + 16,000y. Find the range of values that the Saddle Mine's daily operating cost, the coefficient c of x, can assume without changing the optimal autonSCS(c) Find the range of values that the requirement for gold can assume.s (requirement for gold) s(d) Find the shadow price for the requirement for gold. (Round your answer to the nearest cent.)S

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Answered: Perth Mining Company operates two mines…

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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We know the following data for Albert's fabricating production area: Number of machines = 7 Number of working days in year = 320 Processing time per unit = 50 minutes a. What is the annual capacity with a single eight- hour shift? Round your answer down to the nearest whole number. units/year b. What is the annual capacity with two shifts? Round your answer down to the nearest whole number. units/year
Consider the problem of an individual that has Y dollars to spend on consuming over two periods. Let c1 denote the amount of consumption that the individual would like to purchase in period 1 and c2 denote the amount of consumption that the individual would like to consume in period 2. The individual begins period 1 with Y dollars and can purchase c, units of the consumption good at a price P1 and can save any unspent wealth. Use s, to denote the amount of savings the individual chooses to hold at the end of period 1. Any wealth that is saved earns interest at rate r so that the amount of wealth the individual has at his/her disposal to purchase consumption goods in period 2 is (1+r)s1. This principal and interest on savings is used to finance period 2 consumption. Again, for simplicity, we can assume that it costs P, dollars to buy a unit of the consumption good in period 2.
You work for the U.S. Food and Drug Administration. You have gotten word that a drug manufacturing is not accurately reporting the contents of their liquid cold medication. Under Federal Regulations, "Variations from stated quantity of contents shall not be unreasonably large" (see section q of the regulation by clicking here ). The company that produces the cold medication is claiming that each bottle contains 355 milliliters of cold medication, which is about 12 fluid ounces. In order to determine if they are accurate in their reporting, you decide to randomly select 20 different bottles of cold medication and measure the amount of cold medication in each bottle (in milliliters). The results of each sample are shown below. Bottle Number 1 2 3 4 7 8 9. 10 Milliliters 340 349 348 351 344 341 344 340 344 355 Bottle Number 11 12 13 14 15 16 17 18 19 20 Milliliters 348 343 349 352 360 357 356 355 355 350 a) Use the data shown above to construct a 93% confidence interval estimate for the…
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Parent W requires one of component B and two of component C. Both B and Care run on work center 10. Setup time for B is 2 hours, and run time is 0.1 hour perpiece. For component C, setup time is 2 hours, and run time is 0.15 hour per piece. Ifthe rated capacity of the work center is 80 hours, how many Ws should be producedin a week?
The cost of goods sold for Veltron International last year amounted to $561,000, and the average inventory at cost was $374,000. The published inventory turnover at cost is 6.6. Calculate the inventory turnover at cost, and if it is less than the published rate, calculate the target average inventory at cost (in $). (If the actual turnover is greater than the published rate, enter "above" for target average inventory.) Inventory turnover at cost: Target average inventory at cost:
You work for the U.S. Food and Drug Administration. You have gotten word that a drug manufacturing is not accurately reporting the contents of their liquid cold medication. Under Federal Regulations, "Variations from stated quantity of contents shall not be unreasonably large" (see section q of the regulation by clicking here).The company that produces the cold medication is claiming that each bottle contains 355 milliliters of cold medication, which is about 12 fluid ounces. In order to determine if they are accurate in their reporting, you decide to randomly select 20 different bottles of cold medication and measure the amount of cold medication in each bottle (in milliliters). The results of each sample are shown below. Bottle Number 1 2 3 4 5 6 7 8 9 10 Milliliters 352 341 358 351 358 353 345 341 354 343 Bottle Number 11 12 13 14 15 16 17 18 19 20 Milliliters 345 344 344 342 355 341 352 359 349 355 a) Use the data shown above to construct a 93% confidence interval…
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A chicken farmer can buy a special food mix A at 20c per Kg and special food mix B at 40c perKg. Each Kg of mix A contains 3000 units of nutrient N1 and 1000 units of nutrient N2; eachKg of mix B contains 4000 units of nutrient N1 and 4000 units of nutrient N2. If the minimumdaily requirements for the chickens collectively are 36000 units of nutrient N1 and 20000 unitsof nutrient N2, how many pounds of each food mix should be used each day to minimize dailyfood costs while meeting (or exceeding) the minimum daily nutrient requirements? What is theminimum daily cost?
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