The fixed cost for a steam line per meter of pipe is $450X + $50 per year. The cost for loss of heat from the pipe per meter is $4.8/X1/2 per year. Here, X represents the thickness of insulation in meters, and X is a continuous design variable. What is the optimum thickness of the insulation?
(HINT: Round up to 4 decimal points, e.g., 0.1234; skip unit)