Refer to question 45 in Chapter 3 and create a Solver table to answer the following questions.
Question:
Refer to question 45 in Chapter 3 and create a Solver table to answer the following questions.
a. Suppose the gas producer needs an extra 50,000 cf of storage capacity for the next 10 days and wants to buy this capacity from the gas trading firm. What is the least amount of money the gas trading company should demand to provide this capacity?
b. How much should the gas trading company be willing to pay to increase their available storage capacity by 500,000 cf?
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Step by Step Answer:
Trading Plan Gas Trading Thousand cubic feet Day Bid Ask Beg Bal Bought Sold End Bal Storage Cost 1 306 322 15000 20000 000 35000 3825 2 401 410 35000 000 17000 18000 5313 3 603 613 18000 000 18000 00...View the full answer
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Ali Khawaja
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Related Book For 
Spreadsheet Modeling & Decision Analysis A Practical Introduction to Management Science
ISBN: 978-0324656633
5th edition
Authors: Cliff T. Ragsdale
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