Create spreadsheets and use Solver to determine the correct volumes to be produced to minimize cost for the following problem. Your company has two trucks that it wishes to use on a specific contract. One is a new truck the company is making payments on, and one is an old truck that is fully paid for. The new truck’s costs per mile are as follows: 54₵ (fuel/additives), 24₵ (truck payments), 36₵ (driver), 12₵ (repairs), and 1₵ (misc.). The old truck’s costs are 60₵ (fuel/additives), 0₵ (truck payments), 32₵ (rookie driver), 24₵ (repairs), and 1₵ (misc.). The company knows that truck breakdowns lose customers, so it has capped estimated repair costs at $14,000. The total distance involved is 90,000 miles (to be divided between the two trucks). 4. Use the tab labeled Solver Part 4 to complete the following:a) Create and program a spreadsheet with data based on the following scenario:Your company has two trucks that it wishes to use on a specific contract. One is a new truck the company is makingpayments on, and one is an old truck that is fully paid for. The new truck's costs per mile are as follows:Fuel/additives: 54¢Truck payments: 24¢Driver: 36¢• Repairs: 12¢••Miscellaneous: 1¢The old truck's costs are as follows:Fuel/additives: 60¢Truck payments: 0¢Rookie driver: 32¢• Repairs: 24¢Miscellaneous: 1¢ScenarioThe company knows that truck breakdowns lose customers, so they have capped estimated repair costs at $14,000. Thetotal distance involved is 90,000 miles (to be divided between the two trucks). After you set up and program your table,be sure to provide a rationale statement.b) Use Solver to determine the number of miles each truck should be driven.

Find the given details below: Given details:New TruckFuel/Additives54Truck…

Answered: Use the tab labeled Solver Part 4 to…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Create spreadsheets and use Solver to determine the correct volumes to be produced to minimize cost for the following problem. Your company has two trucks that it wishes to use on a specific contract. One is a new truck the company is making payments on, and one is an old truck that is fully paid for. The new truck’s costs per mile are as follows: 54₵ (fuel/additives), 24₵ (truck payments), 36₵ (driver), 12₵ (repairs), and 1₵ (misc.). The old truck’s costs are 60₵ (fuel/additives), 0₵ (truck payments), 32₵ (rookie driver), 24₵ (repairs), and 1₵ (misc.). The company knows that truck breakdowns lose customers, so it has capped estimated repair costs at $14,000. The total distance involved is 90,000 miles (to be divided between the two trucks).