1) The attendant should accept 15 cars and 45 buses to maximize the income, which would be $375.
2) Machine 1 should run for 8 hours and Machine 2 should run for 14 hours to produce an order of at least 2080 bolts and 1520 nuts at the minimum operating cost of $43.20.
The dimensions of the parking lot at the Gala Events Center = 20 m by 50 m
The total area of the parking lot = 1,000 m² (20 x 50)
Usable space = 60^% = 600 m²
Let the number of cars = x
Let the number of buses = y
The total number of vehicles parked = x + y
The maximum number of vehicles the attendant can handle is ≤ 60
Therefore, x + y ≤ 60
The area occupied by a car = 6 m²
The area occupied by a bus = 30 m²
The area occupied by x cars and y buses = 6x + 30y
The total income generated by parking x cars and y buses is 2.5x + 7.5y
To maximize the income, we need to maximize the expression 2.5x + 7.5y subject to the constraint x + y ≤ 60, using the Lagrange multipliers.
The Lagrangian function is:
L(x, y, λ) = 2.5x + 7.5y - λ(x + y - 60)
Taking partial derivatives concerning x, y, and λ:
∂L/∂x = 2.5 - λ = 0
∂L/∂y = 7.5 - λ = 0
∂L/∂λ = x + y - 60 = 0
Solving these equation:
x = 15
y = 45
Thus, the attendant should accept 15 cars and 45 buses to maximize the income.
The maximum income generated is 2.5(15) + 7.5(45) = $375.
2)
The number of bolts and nuts produced by Machine 1 in one hour = 240 bolts and 100 nuts
The number of bolts and nuts produced by Machine 2 in one hour = 160 bolts and 160 nuts
The cost to run Machine 1 for one hour = $2.00
The cost to run Machine 2 for one hour = $2.401
Let the number of hours that Machine 1 runs = x
Let the number of hours that Machine 2 runs = y
To minimize the operating cost, we use the following equation:
C = 2x + 2.4y
The constraints are:
240x + 160y ≥ 2080 (minimum number of bolts)
100x + 160y ≥ 1520 (minimum number of nuts)
x + y ≤ 30 (maximum running time)
Using linear programming, the solution is:
x = 8
y = 14
Thus, Machine 1 should run for 8 hours and Machine 2 should run for 14 hours to produce an order of at least 2080 bolts and 1520 nuts at the minimum operating cost.
The minimum operating cost is:
C = 2(8) + 2.4(14) = $43.20.