User Account

All Pages

Quantitative Methods, Advanced Statistics

Assignment Help:
After graduating from Tech Julia was unable to find regular employment and approached the Director of Athletics at Tech to request that she remain a vendor of the following year. The Director was so impressed by Julia’s progress and professionalism from the year before he decided to allow her to continue to be a vendor for the next season with the following conditions and changes:
Julia must do a 70:30 split of all of her profits with the Department of Athletics. Julia also has the ability to sell soft drinks. If she decide to sell soft drinks, she must agree to a 60:40 split; however, the department will not provide any monetary funding. Julia’s cost for the soft drinks are 55 cents, and she sells them for two dollars. She can expect to sell just as many soft drinks as all food items combined.
Julia must sell food from two (2) booths; however, she will pay the same price as she paid for one booth during the previous season.
The department of athletics is able to use the warming ovens owned by food services at no cost since all student athletes on scholarship have a meal plan. There are three (3) warming ovens available to Julia. The warming ovens are the same capacity as those used the previous season.
Julia has the same options available for the types of food to sell however, she is able to take advantage of a discount that the school receives from the same vendor she purchased the pizza, hot dogs and sandwiches from; the discount is 20%, 20% and 30% respectively.
Due to the operation of two (2) booths, Julia must hire at least two additional persons at the same rate as previously determined.
After paying off here loans from the previous season, she has $2750.00 in savings from a part-time job at the mall, which she is able to invest in the venture. If Julia clears at least $2000.00 in profit for each game after paying all her expenses, she believes it will be worth the partnership with the Department of Athletics.

Formulate and solve a linear programming model for Julia that will help you advise her on which offer to accept from the director if any. Julia’s younger brother who is a freshman at Tech wants to help Julia increase her profits by loaning her some money using his school refund check. Her brother’s only requirement is that she repays him by the end of the season and he is allowed to get into the games free by posing as one of her assistants and receiving free food for him and his girlfriend. If Julia decides to take him up on his offer, how much should she borrow, if anything?

What is your recommendation to Julia?

Related Discussions:- Quantitative Methods

Expected monetary value, Ask quesoil company is considering whether or not ...

Ask quesoil company is considering whether or not to bid for an offshore drilling contract. If they bid, the value would be $600m with a 65% chance of gaining the contract. The com

Probabilistic matching, Probabilistic matching is a method developed to ma...

Probabilistic matching is a method developed to maximize the accuracy of the linkage decisions based on the level of agreement and disagreement among the identifiers on different

Operation research, Opreation research phase

Opreation research phase

Zero-inflated poisson regression, Zero-inflated Poisson regression is  the...

Zero-inflated Poisson regression is  the model for count data with the excess zeros. It supposes that with probability p the only possible observation is 0 and with the probabilit

Naor''s distribution, Naor's distribution is the discrete probability dist...

Naor's distribution is the discrete probability distribution which arises from the following model; Assume an urn contains n balls of which one is red and the remainder is whit

Centile reference charts, Centile reference charts : Charts which are used ...

Centile reference charts : Charts which are used inmedicine to observe the clinical measurements on individual patients in the context of the population values. If the population i

Method of moments, Method of moments   is the procedure for estimating the...

Method of moments   is the procedure for estimating the parameters in a model by equating sample moments to the population values. A famous early instance of the use of the proced

K-means cluster analysis, K-means cluster analysis is the method of cluste...

K-means cluster analysis is the method of cluster analysis in which from an initial partition of observations into K clusters, each observation in turn is analysed and reassigned,

Inferetial statistics, wat iz z difference b/n logistic regression and mul...

wat iz z difference b/n logistic regression and multiple regression analysis /

Two-phase sampling, Two-phase sampling is the sampling scheme including tw...

Two-phase sampling is the sampling scheme including two distinct phases, in the first of which the information about the particular variables of interest is collected on all the m

Write Your Message!

Captcha
Order Assignment

Featured Services

Order Now

Popular Subjects

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd