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Lauren Moore has sold her business for $500,000 and wants to invest in condominium units ( which she intends to rent) and land ( which she will lease to a farmer). She estimates that she will receive an annual return of $8,000 for each condominium and $6,000 for each acre of land. A condominium unit costs $70,000, and land is $30,000 per acre. A condominium will cost her $1,000 per unit, an acre of land will cost $2,000 for maintenance and upkeep, and $14,000 has been budgeted for these annual expenses. Lauren wants to know how much to invest in condominiums and land to maximize her annual return.
A. Formulate a mixed integer programming model for this problem.
B. Solve this model using the computer.
If we know that 20 people will attend, what price should be charged per person to break even?
43 students, 22are sophomores, 28are chemistry majors, and 11are neither. What are the probability that the student is both a sophomore and a chemistry major?
If the voice identifications were made by random guess, find the probability that all 9 victims would select the same person?
Assume that each shipment contains a random sample of bearings. a. What is the probability that a given shipment is acceptable?
Assume that the class has 60 students and that the examination period is 90 minutes in length. How many students do you expect will be unable to complete the exam in the allotted time.
You should use the hypergeometric distribution because you are sampling a small population without replacement.you are sampling a large population without replacement. You are sampling a small population with replacement.
According to the patient's history and physical examination. What are the chances of herniation if the MRI is positive?
Describe a study you might design that could use the Chi Square statistic. What are the variables? What are the null and alternative hypotheses? Why would the Chi Square test be appropriate for this design?
What is the expected shape of the distribution of the sample mean?
Suppose you bid $12000. What is the probability that your bid will be accepted?
Determine the average amount of time that a guest spends checking in. How would this change under each of the state options?
Choosing the appropriate the sampling design for the given data
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