Question: 5. (9 points). Mark needs a car during his college for the next four years. His favorite car costs $15,000 (including taxes). The resale values
5. (9 points). Mark needs a car during his college for the next four years. His favorite car costs $15,000 (including taxes). The resale values and maintenance costs of this car for the next four years are listed in the table below (next page). Determine a policy that minimizes the net cost of owning and operating a car for the next 4 years. Use the network modeling to formulate this problem and the shortest path method. Car Age 0-1 1-2 2-3 3-4 4-5 Annual Maintenance $2000 $4000 $5000 $5500 $6000 Trade-in Value $12,000 $10,000 $7.000 $5,000 $3,500 Include hard copies of the following materials: a) Network representation of the model; b) Spreadsheet algorithm for the shortest path: c) The Microsoft Excel shortest path program solved by the SOLVER; and d) Written conclusion. 5. (9 points). Mark needs a car during his college for the next four years. His favorite car costs $15,000 (including taxes). The resale values and maintenance costs of this car for the next four years are listed in the table below (next page). Determine a policy that minimizes the net cost of owning and operating a car for the next 4 years. Use the network modeling to formulate this problem and the shortest path method. Car Age 0-1 1-2 2-3 3-4 4-5 Annual Maintenance $2000 $4000 $5000 $5500 $6000 Trade-in Value $12,000 $10,000 $7.000 $5,000 $3,500 Include hard copies of the following materials: a) Network representation of the model; b) Spreadsheet algorithm for the shortest path: c) The Microsoft Excel shortest path program solved by the SOLVER; and d) Written conclusion
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