Business leases. A grain company wants to lease a fleet of 20 covered hopper railcars with a combined capacity of 108 , 000 cubic feet. Hoppers with three different carrying capacities are available: 3 , 000 cubic feet. 4 , 500 cubic feet, and 6 , 000 cubic feet. (A) How many of each type of hopper should they lease? (B) The monthly rates for leasing these hoppers are $180 for 3 , 000 cubic feet, $225 for 4 , 500 cubic feet, and $325 for 6 , 000 cubic feet. Which of the solutions in part (A) would minimize the monthly leasing costs?
Business leases. A grain company wants to lease a fleet of 20 covered hopper railcars with a combined capacity of 108 , 000 cubic feet. Hoppers with three different carrying capacities are available: 3 , 000 cubic feet. 4 , 500 cubic feet, and 6 , 000 cubic feet. (A) How many of each type of hopper should they lease? (B) The monthly rates for leasing these hoppers are $180 for 3 , 000 cubic feet, $225 for 4 , 500 cubic feet, and $325 for 6 , 000 cubic feet. Which of the solutions in part (A) would minimize the monthly leasing costs?
Solution Summary: The author calculates the number of hoppers for 3000, 4500, and 6000 cubic feet. The system of equations can be reduced into the augmented form.
Business leases. A grain company wants to lease a fleet of
20
covered hopper railcars with a combined capacity of
108
,
000
cubic feet. Hoppers with three different carrying capacities are available:
3
,
000
cubic feet.
4
,
500
cubic feet, and
6
,
000
cubic feet.
(A) How many of each type of hopper should they lease?
(B) The monthly rates for leasing these hoppers are
$180
for
3
,
000
cubic feet,
$225
for
4
,
500
cubic feet, and
$325
for
6
,
000
cubic feet. Which of the solutions in part (A) would minimize the monthly leasing costs?
The college hiking club is having a fundraiser to buy new equipment for fall and winter outings. The club is selling Chinese fortune cookies at a price of $2 per cookie. Each cookie contains a piece of paper with a different number written on it. A random drawing will determine which number is the winner of a dinner for two at a local Chinese restaurant. The dinner is valued at $32. Since fortune cookies are donated to the club, we can ignore the cost of the cookies. The club sold 718 cookies before the drawing. Lisa bought 13 cookies. Lisa's expected earnings can be found by multiplying the value of the dinner by the probability that she will win. What are Lisa's expected earnings? Round your answer to the nearest cent.
The Honolulu Advertiser stated that in Honolulu there was an average of 659 burglaries per 400,000 households in a given year. In the Kohola Drive neighborhood there are 321 homes. Let r be the number of homes that will be burglarized in a year. Use the formula for Poisson distribution. What is the value of p, the probability of success, to four decimal places?
The college hiking club is having a fundraiser to buy new equipment for fall and winter outings. The club is selling Chinese fortune cookies at a price of $2 per cookie. Each cookie contains a piece of paper with a different number written on it. A random drawing will determine which number is the winner of a dinner for two at a local Chinese restaurant. The dinner is valued at $32. Since fortune cookies are donated to the club, we can ignore the cost of the cookies. The club sold 718 cookies before the drawing. Lisa bought 13 cookies. Lisa's expected earnings can be found by multiplying the value of the dinner by the probability that she will win. What are Lisa's expected earnings? Round your answer to the nearest cent.
Elementary Statistics: Picturing the World (7th Edition)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, subject and related others by exploring similar questions and additional content below.
Solve ANY Optimization Problem in 5 Steps w/ Examples. What are they and How do you solve them?; Author: Ace Tutors;https://www.youtube.com/watch?v=BfOSKc_sncg;License: Standard YouTube License, CC-BY
Types of solution in LPP|Basic|Multiple solution|Unbounded|Infeasible|GTU|Special case of LP problem; Author: Mechanical Engineering Management;https://www.youtube.com/watch?v=F-D2WICq8Sk;License: Standard YouTube License, CC-BY