oooo ATT 629 PM uabinstructurecom t Answer 5077 margin of er

.oooo AT&T; 6:29 PM uab.instructure.com t Answer 5077 margin of error+10 Question 3 0/1 pts A steel mill wants to make a new batch of steel that has at most 0.24% carbon. The following two steels are available as scrap. Carbon Content Scrap Price $/ton $500 $400 Steel 0.15 0.3 What is the minimum cost per of scrap per ton needed to make the new steel. Express your answer in S/ton to the nearest whole S. nswered 320.0000 t Answer 440 margin of error 3

Solution

Given:

For 0.15% of steel the scrap costs $500 per ton

For 0.3% of steel the scrap costs $400 per ton.

So it is obvious that as the percentage of carbon content increases the value per ton decreases. So, for the company to have 0.24% the value of the steel will have to be inbetween $400 to $500.

For 0.15 % increase of carbon content the value decreases by $100

for 0.09% increase of carbon the value of scrap per ton will be:$60

(0.09*100) / 0.15 = 60

Therefore the minimum cost of scrap per ton required for steel with 0.24% carbon is $500 - $60 = $440