Calculate the total hourly waiting cost

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Reference no: EM131173020

Newark Liberty airport has two runways. Runway 1R serves only large jets, while runway 1L serves only smaller jets. Larger jets wishing to use runway 1R arrive at the average rate of 20 per hour, while the smaller jets using 1L arrive at the average rate of 30 per hour. Each runway can handle an average of 60 jets per hour. Unfortunately, it is rather expensive to keep aircraft airborne while waiting to land. The large jet incur a cost of $25 per minute, while the small jets cost $10 per minute while circling to land. Calculate the total hourly waiting cost for all jets at the airport.

Reference no: EM131173020

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