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Esemen Eee
Esemen Eee
Esemen Eee
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.
Total Annual Cost (TAC) = Fixed cost + Cost of Heat Loss = 450X + 50 + (4.80/X1/2)
Eq 1 .Eq 2 =
=0.00533
b. How do you know that your answer in Part (a) minimizes total cost per year?
By calculating:
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.
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).