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A company wants to purchase large and small delivery trucks. The company wants to purchase about 10 large and 15 small trucks. Each large truck costs $30,000 and has a 10 ton capacity. Each small truck costs $20,000 and has a 7 ton capacity. The company wants to have about 200 tons of capacity and spend about $600,000.
Formulate a goal programming model of this problem.
Settlement Price
The settlement price is the official price at the end of a trading session on futures exchanges, used for calculations of account margins.
Zero-Sum Game
A situation in which one participant's gain or loss is exactly balanced by the losses or gains of the other participants.
Fixed Rate
An interest rate that remains constant over the specified term of a loan or financial instrument, regardless of market fluctuations.
Variable Rate
An interest rate that can change, in contrast to a fixed interest rate, and is often associated with loans or savings accounts.
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