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7. A cookie company sells cookies in 1 pound containers. The estimated demand is 1,000,000 containers. The set-up cost for each production run is $500 and the cost of storing each container over the year is $.40. How many containers should the company produce per production run and how many production runs should be ordered to minimize the production costs?

7. A cookie company sells cookies in 1 pound containers. The estimated demand is 1,000,000 containers. The set-up cost for each production run is $500 and the cost of storing each container over the year is $.40. How many containers should the company produce per production run and how many production runs should be ordered to minimize the production costs?

College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter6: Linear Systems
Section6.8: Linear Programming
Problem 5SC: If during the following year it is predicted that each comedy skit will generate 30 thousand and...
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7. A cookie company sells cookies in 1 pound containers. The estimated demand is 1,000,000 containers. The set-up cost for each production run is $500 and the cost of storing each container over the year is $.40. How many containers should the company produce per production run and how many production runs should be ordered to minimize the production costs?
Transcribed Image Text:7. A cookie company sells cookies in 1 pound containers. The estimated demand is 1,000,000 containers. The set-up cost for each production run is $500 and the cost of storing each container over the year is $.40. How many containers should the company produce per production run and how many production runs should be ordered to minimize the production costs?
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