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Write down a report on following and explain what it means when a LP is used to optimize an outcome and its two properties.
As a senior manager for Company A, a shipping company, you are responsible for transporting cargo in the most efficient way possible. Various optimizing tools are available for decision making, and you have been presented with data from a linear programming (LP) model that depicts the most efficient distribution routes possible. Company A is hoping to expand its operations and a small group of investors is visiting next week. You are tasked with the duty of explaining how Company A uses this information from a linear programming model to optimize its shipping.
Write a report (suggested length of 2-3 pages) for the visiting investors that assume they have no prior understanding of transportation linear programming in which you do following:
Explain what it means when a linear programming (LP) model is used to optimize an outcome.
1. Express at least one situation where managers would utilize the LP model.
2. Describe the two properties all LP problems have in common.
Let us speek where the preceding data are representative of the entire sector of retail sales companiesSuppose the annual profits are more than 6.5 thousand $ every employee.
It was reported that 20 readers responded and 87% said "no" while 13% said "yes." Recognize 4 major flaws in this survey.
Find out the probability that: (a) The amount requested is between $65,000 or more?
what is the required sample size is the error is to be less than 1/2 hour with a 95% level of confidence?
What was the critical F value chosen?
A sample of 23 European countries found that variance of life expectancy was 7.3 years. Determine the 95% confidence interval estimate for variance of life expectancy in Europe?
At a = 0.05, can you reject claim that at least 52% of adults are more probable to purchase a product when there are free samples?
Develop three regression models to predict the selling price based upon each of the other factors individually. Which of these is best?
Some of the factors affect statistical power for a one sample t test. How does statistical power change (increase or decrease) for each of the following changes?
Report descriptive statistics, assumptions tests, effect sizes (partial eta) as well as tests of statistical significance.
At 5% level of significance, does this sample prove violation of guideline that average patient must pay no more than $250 out-of-pocket? Write your hypotheses and decision rule.
If she has chosen the first weeks rides, how many ways can she choose four more different rides for the second week? Assume that order does not matter.
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