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[Solution Library] Reconstruct the equipment replacement model of the above example, assuming that a car must be kept in service at least 2 years, with

Question:

Reconstruct the equipment replacement model of the above example, assuming that a car must be kept in service at least 2 years, with a maximum service life of 4 years. The planning horizon is from the start of year 1 to the end of year 5. The following table provides the necessary data.

Replacement cost for given years in operation
Year acquired 2 3 4
1 $3,800 $4,100 $6,800
2 $4,000 $4,800 $7,000
3 $4,200 $5,300 $7,200
4 $4,800 $5,700
5 $5,300

Solve the model with AMPL and an LP solver such as MINOS or CPLEX.

Price: $2.99
Solution: The downloadable solution consists of 3 pages
Deliverable: Word Document


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