Determine how to minimize the bus company-s salary

Reference no: EM13118975

A bus company believes that it will need the following numbers of bus drivers during each of the next 5 years: 60 drivers in year 1; 70 drivers in year 2; 50 drivers in year 3; 65 drivers in year 4; 75 drivers in year 5. At the beginning of each year, the bus company must decide how many drivers to hire or fire. It costs $4000 to hire a driver and $2000 to fire a driver. A driver's salary is $10,000 per year. At the beginning of year 1 the company has 50 drivers. A driver hired at the beginning of a year can be used to meet the current year's requirements and is paid full salary for the current year.

a. Determine how to minimize the bus company's salary, hiring, and firing costs over the next 5 years.

Reference no: EM13118975

Questions Cloud

Determine cheapest way of producing today-s batch : the amount of each active ingredient in 1 pound of each chemical are given in the file P15_74.xlsx. It is necessary that at least 100 pounds of chemical 2 be used. Determine the cheapest way of producing today's batch of NasaMist

How much water would it take to excrete : How much water would it take to excrete , via the salt gland, a sodium load from ingesting 100ml of sea water if the average sodium concentration of the salt gland's secretion is 600 mmil/L? (HINT : Look up the concentration of Na+ in sea water to..

Relationship between short-run and long-run costs : What fraction of its oil consumption does it have to import and is it strange that even though the country is a net importer of petroleum, it exports some petroleum too?

How many grams of solute are needed : Suppose you want to produce 1L of 3.50M aqueous solution of H2SO4. How many grams of solute are needed to make this solution.

Determine how to minimize the bus company-s salary : A driver hired at the beginning of a year can be used to meet the current year's requirements and is paid full salary for the current year. Determine how to minimize the bus company's salary, hiring, and firing costs over the next 5 years.

Computing return on assets : In January 1999, a company was formed. Total assets were $500,000, of which $300,000 consisted of depreciable fixed assets.

How many grams of cah2 are needed : How many grams of CaH2 are needed to generate 145 liters of H2 gas if the pressure of H2 is 825 torr at 21 C.

Language arts literacy skills : Can someone help me to find a quick 5 to 10 page passage from a textbook that has to do with the language arts. Then please help me to create one out of three prereading activities

What mass of potassium bromide residue remains : What mass of potassium bromide residue remains if 500.0 mL of 0.200 M potassium bromide solution are evaporated to dryness.

User Account

All Pages