7 At the beginning of year 1, a new machine must be purchased. The cost of maintaining...
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7 At the beginning of year 1, a new machine must be purchased. The cost of maintaining a machine i years old is given in Table 5.
The cost of purchasing a machine at the beginning of each year is given in Table 6.
There is no trade-in value when a machine is replaced.
Your goal is to minimize the total cost (purchase plus maintenance) of having a machine for five years. Determine the years in which a new machine should be purchased.
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Operations Research Applications And Algorithms
ISBN: 9780534380588
4th Edition
Authors: Wayne L. Winston
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