The manager of an industrial plant is planning to buy a new machine of either type A or type B. If t denotes the number of hours of daily operation, the number of daily repairs Y₁ required to maintain a machine of type A is a random variable with mean and variance both equal to .10t. The number of daily repairs Y₂ for a machine of type B is a random variable with mean and variance both equal to .12t. The daily cost of operating A is CA (t) = 10t + 30Y; for B it is CB(t) = 8t + 30Y2. Assume that the repairs take negligible time and that each night the machines are tuned so that they operate essentially like new machines at the start of the next day. Which machine minimizes the expected daily cost if a workday consists of (a) 10 hours and (b) 20 hours?
The manager of an industrial plant is planning to buy a new machine of either type A or type B. If t denotes the number of hours of daily operation, the number of daily repairs Y₁ required to maintain a machine of type A is a random variable with mean and variance both equal to .10t. The number of daily repairs Y₂ for a machine of type B is a random variable with mean and variance both equal to .12t. The daily cost of operating A is CA (t) = 10t + 30Y; for B it is CB(t) = 8t + 30Y2. Assume that the repairs take negligible time and that each night the machines are tuned so that they operate essentially like new machines at the start of the next day. Which machine minimizes the expected daily cost if a workday consists of (a) 10 hours and (b) 20 hours?
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:The manager of an industrial plant is planning to buy a new machine of either type A
or type B. If t denotes the number of hours of daily operation, the number of daily
repairs Y₁ required to maintain a machine of type A is a random variable with mean
and variance both equal to .10t. The number of daily repairs Y₂ for a machine of
type B is a random variable with mean and variance both equal to 12t. The daily
cost of operating A is CA (t) = 10t +30Y; for B it is CB(t) = 8t + 30Y3. Assume
that the repairs take negligible time and that each night the machines are tuned so
that they operate essentially like new machines at the start of the next day. Which
machine minimizes the expected daily cost if a workday consists of (a) 10 hours and
(b) 20 hours?
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