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The government is auctioning off oil leases at two sites. At each site, 100,000 acres of land are to be auctioned. Cliff Ewing, Blake Barnes and Alexis Pickens are bidding for the oil. Government rules state that no bidder can receive more than 40% of the land being auctioned. Cliff has bid $1000 per acre for site 1 land and $2000 per acre for site 2 land. Blake has bid $900 per acre for site 1 land and $2200 per acre for site 2 land. Alexis has bid @1100 per acre for site 1 land and $1900 per acre for site land.
a) Determine how to maximize the governments revenue with a transportation model.
b) Use Solver Tab to see how changes in the government's rule on 40% of all land being auctioned affect the optimal revenue.
Here are four problems. Four children solved one problem each, as given below. Identify the strategies the children have used while solving them. a) 8 + 6 = 8 + 2 + 4 = 14 b)
100+5000
Evaluate each of the following. (a) 25 1/2 (b) 32 1/5 Solution (a) 25 1/2 Thus, here is what we are asking in this problem. 2
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Write each of the given radicals in exponent form. Solution As illustrated in the last two parts of this example we have to be careful with parenthesis. While we
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If Var(x) = 4, find Var (3x+8), where X is a random variable. Var (ax+b) = a 2 Var x Var (3x+8) = 3 2 Var x = 36
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