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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.
Calculate the Coefficient of Skewness and the Coefficient of Variation for time spent working on QM.
24 of the students in the sample received an "A". Test the instructor's claim at a 5% level of significance. What is your conclusion?
Explain the purpose of the chi-square test for independence. Provide some practical examples where this test might be used in business.
Assuming that n = 6 for both samples, calculate each of the sample variances, then calculate the pooled variance. Because the samples are the same size, you should find that the pooled variance is exactly halfway between the two sample variances.
What distinguishes regression from ANOVA? What are the assumptions and limitations of each, and when should one be used in place of the other
Construct a 95% confidence interval estimate of their mean weight.
If you are using the method of least squares for fitting trends in an annual time series containing 25 consecutive yearly values.
problem 1the table below gives the annual u.s. demand and supply schedules for pickup trucks.a.plot the demand and
Suppose a random sample of 50 architects and engineers is selected. How likely is it that the random sample contain five or fewer women in these positions.
Assume that a study of 500 randomly selected school bus routes showed that 480 arrived on time. Is it "significant" for a school bus to arrive late?
A random group of apartments was selected from a city to analize the number of bedrooms they have. Is there evidence to reject the hypothesis that the apartments are equally distributed between 1 bedroom, 2 bedroom, and 3 bedroom apartments, at al..
In the accompanying table, the random variable x represents the number of televisions in a household in a certain country. Determine whether or not the table is probability distribution. If it is a probability distribution, find its mean and stand..
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