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Note: This problem requires the use of a linear programming application such as Solver or Analytic Solver.
To enhance the safety of your facility, you decide to add more fire extinguishers. Your goal is to have each area within 50 feet of a fire extinguisher, but to minimize the total number of fire extinguishers you need to purchase. You have divided the facility into 7 zones and have identified 8 possible locations for fire extinguishers. The following table shows the distance (in feet) from each zone to each potential location.
How many fire extinguishers should you purchase?
Compounded Monthly
Involves calculating and adding interest to the principal amount of an investment or loan on a monthly basis.
Deferred Annuity
An annuity where the start of the periodic payments is delayed by more than one payment interval.
Compounded Annually
The process where interest is calculated once per year and added to the principal sum, affecting the total amount and future interest calculations.
Lump Amount
A single payment made at a particular time, as opposed to several smaller payments or installments.
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