Question
In: Math
A car rental agency rents 420 cars per day at a rate of $40 per day....
A car rental agency rents 420 cars per day at a rate of $40 per day. For each $1 increase in rate, 10 fewer cars are rented. At what rate should the cars be rented to produce the maximum income? What is the maximum income?
The rental agency will earn a maximum income of $ _____ when it charges $ _____ per day.
Solutions
milcah answered 1 year agoRelated Solutions
A car rental agency rents 480 cars per day at a rate of $30 per day....
A car rental agency rents 480 cars per day at a rate of $30 per
day. For each $11increase in rate,10 fewer cars are rented. At
what rate should the cars be rented to produce the maximum income?
What is the maximum income?
A car rental agency in a major city has a total of 4500 cars that it...
A car rental agency in a major city has a total of 4500 cars
that it rents from three locations: Metropolis Airport, downtown,
and the smaller City Airport. Some weekly rental and return
patterns are shown in the table (note that Airport means Metropolis
Airport).
Rented from
Returned to
AP
DT
CA
Airport
(AP)
90%
10%
10%
Downtown (DT)
5%
80%
5%
At the beginning of a week, how many cars should be at each
location so that the same...
A car rental agency in a major city has a total of 2900 cars that it...
A car rental agency in a major city has a total of 2900 cars
that it rents from three locations: Metropolis Airport, downtown,
and the smaller City Airport. Some weekly rental and return
patterns are shown in the table (note that Airport means Metropolis
Airport).
Rented from
Returned to AP DT CA
Airport (AP) 90% 10% 10%
Downtown (DT) 5% 80% 5%
At the beginning of a week, how many cars should be at each
location so that the same...
Hire-a-Car System rents three types of cars at two different locations. The profit made per day...
Hire-a-Car System rents three types of cars at two different
locations. The profit made per day for each car type and company at
the two locations is listed below:
Car Type
Company
Type 1
Type 2
Type 3
A
$25
$40
$10
B
$30
$35
$45
The management forecasts the demand
per day by car type. A linear programming model developed to
maximize profit is used to determine how many reservations to
accept for each type of car. The demand...
The rental car agency has 30 cars on the lot. 10 are in great shape, 16...
The rental car agency has 30 cars on the lot. 10 are in great
shape, 16 are in good shape, and 4 are in poor shape. Four cars are
selected at random to be inspected. Do not simplify your answers.
Leave in combinatorics form. What is the probability that:
a. Every car selected is in poor shape
b. At least two cars selected are in good shape.
c. Exactly three cars selected are in great shape.
d. Two cars selected...
1. A profit-maximizing, monopolistically competitive car wash washes 40 cars per day, and its total cost...
1. A profit-maximizing, monopolistically competitive car wash
washes 40 cars per day, and its total cost $200 and currently makes
an economic profit of $280. In the long run, everything else equal,
the
a. car wash will wash less than 40 cars
per day.
b. car wash will charge more than $12 per
wash.
c. car wash will need to hire new workers
to wash more cars.
d. car wash will wash more than 50 cars...
Cars enter a car wash at a mean rate of 2 cars per half an hour....
Cars enter a car wash at a mean rate of 2 cars per half an hour.
What is the probability that, in any hour, exactly 5 cars will
enter the car wash? Round your answer to four decimal places.
Rent'R Cars is a multisite car rental company in the city. It is trying out a...
Rent'R Cars is a multisite car rental company in the city. It is
trying out a new "return the car to the location most convenient
for you" policy to improve customer service. But this means that
the company has to constantly move cars around the city to maintain
required levels of vehicle availability. The supply and demand for
economy cars, and the total cost of moving these vehicles between
sites, are shown below.
From\To
D
E
F
G
Supply
A...
Rent'R Cars is a multisite car rental company in the city. It is trying out a...
Rent'R Cars is a multisite car rental company in the city. It is
trying out a new "return the car to the location most convenient
for you" policy to improve customer service. But this means that
the company has to constantly move cars around the city to maintain
required levels of vehicle availability. The supply and demand for
economy cars, and the total cost of moving these vehicles between
sites, are shown below.
From\To
D
E
F
G
Supply
A...
Bargain Rental Car offers rental cars in an off-airport location near a major tourist destination in...
Bargain Rental Car offers rental cars in an off-airport location
near a major tourist destination in California. Management would
like to better understand the variable and fixed portions of it car
washing costs. The company operates its own car wash facility in
which each rental car that is returned is thoroughly cleaned before
being released for rental to another customer. Management believes
that the variable portion of its car washing costs relates to the
number of rental returns. Accordingly, the...
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