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?
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