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You are trying to create a budget to optimize the use of a portion of your disposable income. You have a maximum of $1500 per month to be allocated to food, shelter and entertainment. The amount that you spent of food and shelter combined must not exceed $1000, the amount spent on shelter alone must not exceed $700. Entertainment cannot exceed $300 per month. Each dollar spend on food has a satisfaction value of 2, each dollar spent on shelter has a satisfaction value of 3, and each dollar spent on entertainment has a satisfaction value of 5. Formulate this as a LP problem to determine the optimal allocation of your funds. Do not work the LP problem- just formulate!
Question 1: Define "yield management". What conditions would be necessary for a university to use yield management techniques?
Question 2: Inventory has been under attack in OM literature for years. Under what conditions is having more inventory better than having less inventory?
Question 3: Which operations management concepts or techniques studied in this course do think will prove most useful in your career? Why?
you need to test the alternative hypothesis that an average is greater than 70. if the population average is 70 and
A sample of 60 night shift workers showed that the mean number of units produced was 351. At the .05 significance level, is the number of units produced on the night shift larger?
the 385-kg and 384-kg mine cars are rolling in opposite directions along the horizontal track with the respective
Estimate and interpret the p-value of the calculated test statistic above.
suppose you have some data gathered from a repeated experiment. if you want to make inferences about the data collected
The manager of Sam's Food Mart guarantees that none of his cartons containing a dozen eggs will contain more than one bad egg, despite the fact that 4% of individual eggs are known to be bad. Define the random variable x to be the number of bad eg..
for a given multiple regression model with three independent variables the value of the adjusted multiple coefficient
Surface area of a cube. The formula A = 6V^-2/3(-2/3 power) gives the surface area of a cube in the volume V. What is the volume of a cube with a surface area 12 square feet?
The ________ is the probability of observing a sample value as extreme as, or more extreme than the value observed, given that the null hypothesis is true.
a researcher conducted an experiment on the effects of a new drug on depression. the researcher had a control group
a national grocers magazine reports the typical shopper spends nine and half minutes in line waiting to check out. a
What is the probability a random sample of 75 students will provide a sample mean SAT score within 20 of the population mean?
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