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Question 1
AAA Furniture is a furniture manufacturer of desks and chairs. Each desk uses 4 units of wood, and each chair uses 3 units of wood. Each desk sold yields a profit of $40, and each chair sold yields a profit of $25. Marketing restrictions require that the number of chair produced be at least twice the number of desks produced. There are 20 units of wood available. Let X1 and X2 be the number of chairs and desks that AAA Furniture produces.
a Develop the linear programming problem in terms of the production function and constraints, in order to maximise AAA Furniture's total profit.
b Use Excel's Solver to solve the above linear programming problem.
Question 5
The International Shipping & Logistics Department of a university needs to decide which of the two magazines, Containerisation International or Lloyd's Shipping Economist, should be used to advertise its new Bachelor of International Logistics program.
a What quantitative method can be applied to help the Department make the decision? Outline how this method can be applied.
b Explain how a qualitative method can also be applied to help the Department make the decision.
How many boxes must the processor sample to be 95 percent confident that the sample mean does not differ from the population mean by more than 0.2 pounds?
Project was estimated by using ADM/PERT analysis. Due to extensive length of project many activities were combined; Following is the result.
Compute the indicated confidence interval for the differenciate in proportions. Suppose that the samples are independent and that they have been randomly selected.
Cores on two tests have a bivariate normal distribution; and that correlation of 2 scores is 0.8. Determine the probability that sum of the student's scores on 2 tests will be greater than 200?
This model is fit to the data using the method of least squares using statistical software, and the following parameter estimates and their standard errors are obtained.
Use the trend equation to calculate the points for 2003 and 2005. Plot them on the graph and draw the regression line.
How would the General Counsel's decision in Part (b) change if the cost of selling the second suit were only $200,000? What if the cost were $900000?
Find out correlation coefficient r, If student take 35 minutes to complete exam, what is his predicted score.
Find a 90% confidence interval for the difference between the proportion of men and the proportion of women who approved of Reagan's performance. What assumption do you make to use this method?
You are given following information on residents' responses, broken down by sex. Determine the probability that resident is a man and opposes the bridge?
A simple random sample of 1000 Americans found that 61% were satisfied with the service provided by the dealer from which they bought their car.
Findout the probability using normal approximation for the provided values. Findout the specified probability from a table of Normal probabilities.
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