Question

The fuel cost per hour for running a ship is approximately one half the cube of the speed (measured in knots) plus additional fixed costs of $216 per hour. Find the most economical speed to run the ship for a 500 M (nautical mile) trip. Note: Assume that there are no major disturbances, such as heavy tides or stormy seas

Answer 1

Answer:

6 knots

Step-by-step explanation:

Let the speed be v knots

then time taken to cover 500 M = 500 / v hrs

fuel consumption /hr = 216 + 0.5v^3

let F be the fuel consumption for trip

= [500/v][216 + 0.5v^3]

= 500[216/v + 0.5v^2]

dF/dv = 500[ - 216/v^2 + v]

d^2F/d^2v = 500[432/v^3 + 1] , i.e. +ve

so setting dF/dv will give a minima

500[ -216/v^2 + v] = 0

or v = 216/v^2

or v^3 = 216

solving, we get v = [216]^(1/3) = 6 knots