Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I want all answers with explanation... Please I'll upvote you... Long Winding Road Logistics (LWRL) is planning to purchase new vehicles to expand their regional
I want all answers with explanation...
Please I'll upvote you...
Long Winding Road Logistics (LWRL) is planning to purchase new vehicles to expand their regional delivery service. To better comply with environmental regulations, LWRL is considering electric trucks and stretch vans that use liquid natural gas as a cleaner fuel. Each truck can generate $1500 per day in revenue and each van can generate $800 per day in additional revenue. Electric trucks can be purchased for $100,000 each and LNG vans can, be purchased for $75,000 each. LWRL has a budget of $600,000 available to spend. At this time, the company also wants to limit the purchases to no more than 5 additional vehicles in total. How many of each vehicle should LWRL purchase to maximize revenue given the constraints mentioned above? Formulate this problem as a Total Integer model. 1: Define the decision variables (with a unique label for each variable). 2. Define the objective function. 3. Define the "budget" constraint. 4. Define the total vehicles purchased constraint. 5. Define all other constraints that apply to the decision variablesStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started