Budget utilization A car rental agency has a budget of $1.8 million to purchase at most 100 new cars. The agency will purchase either subcompact cars at $15,000 each or midsized cars at $30,000 each. From past rental patterns, the agency decides to purchase at most 50 midsized cars and expects an annual profit of $7500 per subcompact car and $11,000 per midsized car. How many of each type of car should be purchased to obtain the maximum profit while satisfying budgetary and other planning constraints? Find the maximum profit.
Trending nowThis is a popular solution!
Chapter 4 Solutions
Mathematical Applications for the Management, Life, and Social Sciences
Additional Math Textbook Solutions
Mathematics All Around (6th Edition)
Calculus Volume 3
A Problem Solving Approach to Mathematics for Elementary School Teachers (12th Edition)
Mathematical Methods in the Physical Sciences
Thinking Mathematically (7th Edition)
Basic College Mathematics (12th Edition)
- Wholesale distribution Ace Electronics, Hi-Fi Stereo, and CD World buy a total of 175 DVD players from the same distributor each month. Because CD World buys 25 more units than the other two stores combined, CD Worlds cost is only 160 per unit. The players cost Hi-Fi 165 each and Ace 170 each. How many players does each retailer buy each month if the distributor receives 28,500 each month from the sale of the players to the three stores?arrow_forwardShipping TelevisionsAn electronics discount chain has a sale on certain brand of 60-in. high-definition television set. The chain has stores in Santa Monica and El Toro and warehouses in Long Beach and Pasadena. To satisfy rush orders, 15 sets must be shipped from the warehouses to the Santa Monica store, and 19 must be shipped to the El Toro store. The cost of shipping a set is 5 from Long Beach to Santa Monica, 6 from Long Beach to El Toro, 4 from Pasadena to Santa Monica, and 5.50 from Pasadena to El Toro. If the Long Beach warehouse has 24 sets and the Pasadena warehouse has 18 sets in stock, how many sets should be shipped from each warehouse to each store to fill the orders at a minimum shipping cost?arrow_forward
- Algebra and Trigonometry (MindTap Course List)AlgebraISBN:9781305071742Author:James Stewart, Lothar Redlin, Saleem WatsonPublisher:Cengage LearningCollege AlgebraAlgebraISBN:9781305115545Author:James Stewart, Lothar Redlin, Saleem WatsonPublisher:Cengage LearningCollege Algebra (MindTap Course List)AlgebraISBN:9781305652231Author:R. David Gustafson, Jeff HughesPublisher:Cengage Learning