Reconstruct the equipment replacement model of the above example, assuming that a car mus
Question: Problem 1
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 |
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Solve the model with AMPL and an LP solver such as MINOS or CPLEX.
Price: $2.99
Solution: The solution consists of 3 pages
Deliverables: Word Document
Deliverables: Word Document
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