(a)
The speed at which the 525 miles trip will be completed.
(a)
Answer to Problem 60P
The cost is lower at 70 mph as compared to 60 mph, hence speed should be 70 miles per hour.
Explanation of Solution
To determine the optimum level of speed at which 525miles trip will be done, we need to compare the total cost to be incurred at both the speed levels.
At 60 mph
At 70 mph
Calculation of cost:
If gas has $3 cost and time is $18 per hour:
At 60 mph speed:
At 70 mph speed:
Since cost is lower at 70 miles per hour, speed should be 70 miles per hour.
(b)
The speed at which the 525miles trip will be completed.
(b)
Answer to Problem 60P
The cost is lower at 70 mph as compared to 60 mph, hence speed should be 70 miles per hour.
Explanation of Solution
To determine the optimum level of speed at which 525 miles trip will be done, we need to compare the total cost to be incurred at both the speed levels.
Calculation of cost:
If gas has $4 cost and time is $12 per hour:
At 60 mph speed:
At 70 mph speed:
Since cost is lower at 70 miles per hour, speed should be 70 miles per hour.
(c)
The speed at which the 525 miles trip will be completed.
(c)
Answer to Problem 60P
The cost is lower at 60 mph as compared to 70 mph, hence speed should be 60 miles per hour.
Explanation of Solution
To determine the optimum level of speed at which 525 miles trip will be done, we need to compare the total cost to be incurred at both the speed levels.
Calculation of cost:
If gas has $5 cost and time is $9 per hour:
At 60 mph speed:
At 70 mph speed:
Since cost is lower at 60 miles per hour, speed should be 60 miles per hour.
(d)
To build a spreadsheet showing the calculation of total trip cost at various rates of gas costs and time cost for 60mph speed and 70mph speed.
(d)
Answer to Problem 60P
The tables reflect the total trip cost at both the speed levels of 60 mph and 70 mph considering various rates of gas cost and time costs given in the question
Explanation of Solution
| At 60 mph considering 18.1 gallons and 8.75 hrs. | ||||
| 2 | 3 | 4 | 5 | |
| 6 | $88.7 | $106.8 | $124.9 | $143.0 |
| 9 | $115.0 | $133.1 | $151.2 | $169.3 |
| 12 | $141.2 | $159.3 | $177.4 | $195.5 |
| 15 | $167.5 | $185.6 | $203.7 | $221.8 |
| 18 | $193.7 | $211.8 | $229.9 | $248.0 |
| At 70 mph considering 21 gallons and 7.5 hrs. | ||||
| 2 | 3 | 4 | 5 | |
| 6 | $87.0 | $108.0 | $129.0 | $150.0 |
| 9 | $109.5 | $130.5 | $151.5 | $172.5 |
| 12 | $132.0 | $153.0 | $174.0 | $195.0 |
| 15 | $154.5 | $175.5 | $196.5 | $217.5 |
| 18 | $177.0 | $198.0 | $219.0 | $240.0 |
The tables above reflect the total trip cost at both the speed levels of 60 mph and 70 mph considering various rates of gas cost and time costs given in the question.
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Chapter 1 Solutions
ENGR.ECONOMIC ANALYSIS W/DASHBOARD
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