A company is considering two insurance plans with the following types of coverage and premiums Plan A Plan B Fire/Theft $20000 $32000 Liability Monthly Premium $70 Premiums are sold in units. For example, one can buy one unit of plan A insurance for $70.00 per month and receive $20,000.00 in Thef/Fire insurance. Two units of plan A insurance cost $140.00 per month and give 840,000.00 in Theft/Fire insurance. The company wants at least $636,000.00 in coverage for Theft/Fire insurance and $3,541,000.00 in coverage for liability insurance. How many units of each plan should be purchased to meet the needs of the company while minimizing cost $173000 $126000 $57 The company should purchase * units of plan A and units of plan B. What is the minimum monthly premium for the company? (Note: your answer is a dollar amount and should include a dollar symbol).

A company is considering two insurance plans with the following types of coverage and premiums Plan A Plan B Fire/Theft $20000 $32000 Liability Monthly Premium $70 Premiums are sold in units. For example, one can buy one unit of plan A insurance for $70.00 per month and receive $20,000.00 in Thef/Fire insurance. Two units of plan A insurance cost $140.00 per month and give 840,000.00 in Theft/Fire insurance. The company wants at least $636,000.00 in coverage for Theft/Fire insurance and $3,541,000.00 in coverage for liability insurance. How many units of each plan should be purchased to meet the needs of the company while minimizing cost $173000 $126000 $57 The company should purchase * units of plan A and units of plan B. What is the minimum monthly premium for the company? (Note: your answer is a dollar amount and should include a dollar symbol).

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter9: Decision Making Under Uncertainty

Section: Chapter Questions

Problem 37P

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