(Use MATLAB Optimization Commands (linprog, quadprog, or fmincon).) The regular air fare between Boston and San...

 

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(Use MATLAB Optimization Commands (linprog, quadprog, or fmincon).) The regular air fare between Boston and San Francisco is $500. An airline using planes with a capacity of 300 passengers on this route observes that they fly with an average of 180 passengers. Market research tells the airlineâĂZs managers that each $5 fare reduction would attract, on average, 3 more passengers for each flight. Calculate the fare that maximizes airline's revenue. P.S: Put commands at the beginning of your Matlab code that explains what are the design variables and how you found the cost function and constraints. Also explain how you decide the category of the optimization problem. (Use MATLAB Optimization Commands (linprog, quadprog, or fmincon).) The regular air fare between Boston and San Francisco is $500. An airline using planes with a capacity of 300 passengers on this route observes that they fly with an average of 180 passengers. Market research tells the airlineâĂZs managers that each $5 fare reduction would attract, on average, 3 more passengers for each flight. Calculate the fare that maximizes airline's revenue. P.S: Put commands at the beginning of your Matlab code that explains what are the design variables and how you found the cost function and constraints. Also explain how you decide the category of the optimization problem.

Answer rating: 100% (QA)

Let 3n entore passenge added to the fight are So total no of passengers 180 3n Then 180 2 1 ... View the full answer