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    The fixed cost for a steam line per meter of pipe is $450X + $50 per year. The cost for loss of heat from the pipe per meter is $4. / X1 / 2 per year. X represents the thickness of insulation in meters, and X is a continuous design variable. X = 0.0305 meters is a minimum cost thickness where answer in part (a) minimizes total cost per year.

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    The fixed cost for a steam line per meter of pipe is $450X + $50 per year. The cost for loss of heat from the pipe per meter is $4. / X1 / 2 per year. X represents the thickness of insulation in meters, and X is a continuous design variable. X = 0.0305 meters is a minimum cost thickness where answer in part (a) minimizes total cost per year.

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    2K views2 pages

    Esemen Eee

    Uploaded by

    rshafizan
    The fixed cost for a steam line per meter of pipe is $450X + $50 per year. The cost for loss of heat from the pipe per meter is $4. / X1 / 2 per year. X represents the thickness of insulation in meters, and X is a continuous design variable. X = 0.0305 meters is a minimum cost thickness where answer in part (a) minimizes total cost per year.

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    of 2

    2-24. The fixed cost for a steam line per meter of pipe is $450X + $50 per year.

    The cost for loss of heat from the pipe per meter is $4.8/X1/2 per year. Here X represents the thickness of insulation in meters, and X is a continuous design variable.

    a. What is the optimum thickness of the insulation?

    Total Annual Cost (TAC) = Fixed cost + Cost of Heat Loss = 450X + 50 + (4.80/X1/2)

    Eq 1 .Eq 2 =
    =0.00533

    The answer is X* = 0.0305 meters

    b. How do you know that your answer in Part (a) minimizes total cost per year?

    By calculating:

    , the value is > 0 for X > 0

    X* = 0.0305 meters,
    This is a minimum cost thickness where answer in part (a) minimizes total cost per year. This can be prove when the second derivatives X* = 0.0305 meters is in positives value.

    c. What is the basic trade- off being made in this problem?

    In this problem, the cost of the extra insulation which is a directly varying cost is being traded-off against the value of reduction in lost heat (indirectly varying cost).

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