A car rental agency has a budget of $1.96 million to purchase at most 110 new cars. The agency will purchase either subcompact cars at $14,000 each or mid-sized cars at $28,000 each. From past rental patterns, the agency decides to purchase at most 50 mid-sized cars and expects an annual profit of $7,500 per subcompact car and $11,000 per mid-sized car. How many of each type of car should be purchased in order to obtain the maximum profit while satisfying budgetary and other planning constraints? subcompact cars mid-sized cars Find the maximum profit.
A car rental agency has a budget of $1.96 million to purchase at most 110 new cars. The agency will purchase either subcompact cars at $14,000 each or mid-sized cars at $28,000 each. From past rental patterns, the agency decides to purchase at most 50 mid-sized cars and expects an annual profit of $7,500 per subcompact car and $11,000 per mid-sized car. How many of each type of car should be purchased in order to obtain the maximum profit while satisfying budgetary and other planning constraints? subcompact cars mid-sized cars Find the maximum profit.
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter4: Linear Programming Models
Section: Chapter Questions
Problem 64P
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A car rental agency has a budget of $1.96 million to purchase at most 110 new cars. The agency will purchase either subcompact cars at $14,000 each or mid-sized cars at $28,000 each. From past rental patterns, the agency decides to purchase at most 50 mid-sized cars and expects an annual profit of $7,500 per subcompact car and $11,000 per mid-sized car. How many of each type of car should be purchased in order to obtain the maximum profit while satisfying budgetary and other planning constraints?
subcompact cars
mid-sized cars
Find the maximum profit.
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