The Megabuck Hospital Corp. is to build a state-subsidized nursing home catering to homeless patients as well as high-income patients. State regulations require that every subsidized nursing home must house a minimum of 740homeless patients and no more than 800 high-income patients in order to qualify for state subsidies. The overall capacity of the hospital is to be 1,800 patients. The board of directors, under pressure from a neighborhood group, insiststhat the number of homeless patients should not exceed twice the number of high-income patients. Due to the state subsidy, the hospital will make an average profit of $9,500 per month for every homeless patient it houses, whereas theprofit per high-income patient is estimated at $7,900 per month. How many of each type of patient should it house in order to maximize profit? HINT [See Example 3.] (If an answer does not exist, enter DNE.)high-income patientshomeless patientsprofit$

Answered: Image /qna-images/answer/6b91081f-625c-444e-84a5-cb6b5ce0b57f.jpg

Answered: The Megabuck Hospital Corp. is to build…

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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Consider a remote town in which two restaurants, All-You-Can-Eat Café and GoodGrub Diner, operate in a duopoly. Both restaurants disregard health and safety regulations, but they continue to have customers because they are the only restaurants within 80 miles of town. Both restaurants know that if they clean up, they will attract more customers, but this also means that they will have to pay workers to do the leaning. If neither restaurant cleans, each will earn $14,000; alternatively, if they both hire workers to clean, each will earn only $11,000. However, if one cleans and the other doesn't, more customers will choose the cleaner restaurant; the cleaner restaurant will make $18,000, and the other restaurant will make only $6,000. Complete the following payoff matrix using the information just given. (Note: All-You-Can-Eat Café and GoodGrub Diner are both profit-maximizing firms.) All-You-Can-Eat Café $ Cleans Up Doesn't Clean Up $ Cleans Up $ 81°F Sunny $ GoodGrub Diner $ $ If…
Tri-County Utilities, Inc., supplies natural gas to customers in a three-county area. The company purchases natural gas from two companies: Southern Gas and Northwest Gas. Demand forecasts for the coming winter season are as follows: Hamilton County, 400 units; Butler County, 200 units; and Clermont County, 300 units. Contracts to provide the following quantities have been written: Southern Gas, 500 units; and Northwest Gas, 400 units. Distribution costs for the counties vary, depending upon the location of the suppliers. The distribution costs per unit (in thousands of dollars) are as follows:
Teal Inc., manufactures ice tea and would like to increase its market share in the North. In order to do so, Teal has decided to locate a new factory in the Cedar Rapid area. Teal will either buy or lease a site depending upon which is more advantageous. The site location committee has narrowed down the available sites to the following three buildings: Building A: Purchase for a cash price of $1,533,000, useful life 26 years. Building B: Lease for 26 years with annual lease payments of $126,000 being made at the beginning of the year. Building C: Purchase for $1,965,000 cash. This building is larger than needed; however, the excess space can be sublet for 26 years at a net annual rental of $20,700. Rental payments will be received at the end of each year. Teal Inc. has no aversion to being a landlord. Click here to view factor tables In which building would you recommend that Teal Inc. locate, assuming a 12% cost of funds? (Round factor values to 5 decimal places, e.g. 1.25124 and…
A real estate investment trust (REIT) owns first-class office properties in selected markets. According to its website, the occupancy rates last year for its holdings in four major cities are available below. Complete parts a through c below.
2. A company is planning to open a maximum of 11 new stores in Chicago. The stores will be built in one of three sizes: a convenience store (open 24 hrs.), a standard store, and an expanded service store. The convivence store requires $4.1215 million to build and 30 employees to operate. The standard store requires $8.25 million to build and 15 employees to operate. The expanded-services store requires $12.375 million to build and 45 employees to operate. The company can dedicate up to $82.5 million for construction, and 300 employees to staff the stores. On average, the convenience store nets $1.2 million annually, the standard store nets $2 million and the expanded service store nets $2.6 million annually. How many of each store should the company build to maximize revenue? Use excel solver.
Hoosier Power needs to determine a capacity expansion plan to meet Bloomington’s power needs for thenext 20 years. The current capacity is 5000 kwh. The demand for the current year is 4000 kwh, and demand is expected to increase by 1000 kwh in each succeeding year. At the beginning of each year, Hoosier Power must determine the amount of capacity to add, given the following inputs: ■ Any year in which capacity is added, a fixed cost of $120,000 is incurred plus a cost of $120 per kwh of capacity. ■ At most 10,000 kwh of capacity can be added in a single year. ■ It costs $25 per year to maintain a unit of capacity. ■ It costs $12 per year to produce a kwh. ■ If production does not meet demand, a shortage cost of $80 per kwh short is incurred. Develop a linear integer model to help Hoosier Power minimize its costs for the next 20 years.
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ABC enters into a contract to help DEF, a ramen restaurantto design a market strategy to compete with DEF. The contract spans twelve month. DEF will pay P80,000 at the beginning of each month. At the end of the contract, ABC either will give DEF a refund of P25,000 or will be entitled to an additional P15,000 bonus, depending on whether sales at DEF at year- end increased to a target level. At the inception of the contract , ABC estimates a 30% chance that it will not earn the bonus and calculates the contract price based on the expected value of future payments to be received. At the start of the fifth month, circumstances change and ABC revise the probability that it will earn the bonus to 80% What is the adjustment to the service revenue ?

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