Righton Refrigeration specialises in the production of environmental engineering equipment. The cost of manufacture for a particular component, £C, is related to the production time (t)minutes, by the following formula C=16t-2 +2tInvestigate the variation of cost over a range of production times from 1 minute to 8 minutes: a) Plot the cost function over the givenrange b) Explain how calculus may be used to find an analytical solution to this problem of optimisation. c) Use calculus to find the production time at which the cost is at a turning point. d) Show that the turning point is a mathematical minimum. Discuss whether there would still be a minimum cost of production.

Righton Refrigeration specialises in the production of environmental engineering equipment. The cost of manufacture for a particular component, £C, is related to the production time (t)minutes, by the following formula C=16t-2 +2tInvestigate the variation of cost over a range of production times from 1 minute to 8 minutes: a) Plot the cost function over the givenrange b) Explain how calculus may be used to find an analytical solution to this problem of optimisation. c) Use calculus to find the production time at which the cost is at a turning point. d) Show that the turning point is a mathematical minimum. Discuss whether there would still be a minimum cost of production.

Fundamentals Of Construction Estimating

4th Edition

ISBN:9781337399395

Author:Pratt, David J.

Publisher:Pratt, David J.

Chapter9: Pricing Construction Equipment

Section: Chapter Questions

Problem 8RQ

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