Description

Chapter: 22 -Problem: 7 >> Explain what the Zj value indicates in the simplex tableau.
Answer Preview: In the context of linear programming and the simplex method, the simplex tableau is a tabular repres…

, Chapter: 16 -Problem: 4 >> Gustave Lyon is about to buy a compact MP3 player and is currently considering three brands—Sun, Hitek, and Surgo. The important factors to Gustave are the price, color, warranty, size of the unit, and brand name. Gustave has determined factor weights of 0.4, 0.1, 0.1, 0.1, and 0.3, respectively. Furthermore, Gustave has determined factor evaluations for all of the factors for the three different
Answer Preview: To determine the total weighted evaluation for each manufacturer, we need to multiply each facto…

, Chapter: 4 -Problem: 1 >> Right across from the embassies of the Philippines and Peru on the 1600 block of Massachusetts Avenue, NW, in Washington, D.C., Brobeson Technologies is in the process of designing durable magnesium wheels called Boos for bike-share bicycles. Bike-share biking in Washington, D.C., is very popular, and several companies have footprints on the market, including DC Bikeshare, Inc., with hundreds of d
Answer Preview: Let's analyze the given data and answer the discussion questions step by step. 1: To determine which model predicts durability the best, we'll run reg…

, Chapter: 4 -Problem: 34 >> Average fuel economy in miles per gallon (MPG) for cars and light trucks has been steadily increasing since about 2004.5 Use the data below to predict average MPG for cars and light trucks in the year 2025. Make a new column and set year 2004 equal to 1, 2005 equal to 2, and so on. Then use your regression model to predict for X = 22 for the year 2025. Critique your prediction. 
Answer Preview: To predict the average MPG for cars and light trucks in the year 2025 using the provided data, we can perform a regression analysis and use the regression model to make the prediction. Here's how you …

, Chapter: 1 -Problem: 19 >> Kesia D’Ann (see Problem 1-18) has become concerned that sales may fall, as the team is on a terrible losing streak and attendance has fallen off. In fact, Kesia believes that only 500 programs will sell for the next game. If it was possible to raise the selling price of the program and still sell 500, what would the price have to be for Kesia to break even by selling 500?  Data in Problem 1-18Kes
Answer Preview: In order to break even, Kesia D'Ann needs to cover both the fixed costs and the variable costs. The …

, Chapter: 2 -Problem: 2 >> OzDe Distributing, located on Kuhl Road in Erie, Pennsylvania, manages the inventory at all of the retail stores it delivers to. One of the decisions that is made at each of the 21 stores is how much inventory should be in the store on the shelf (where the consumer can see it) and how much should be placed in the back room (where the consumer cannot see it). Allocating too little shelf space for a
Answer Preview: The number of stock-outs per year is a discrete random variable. It represents the count of occurren…

, Chapter: 14 -Problem: 36 >> For avid birdwatchers, the elusive yellow bellied sapsucker is often hard to spot. Scientists at the American Birding Association have determined that there is a higher likelihood of spotting a particular bird if it has been spotted in an area the day before. For the yellow bellied sapsucker, if it is spotted on a particular day, then there is a 60% chance that it will be spotted the next day and
Answer Preview: To determine the associated transition probabilities matrix and the equilibrium probability of spotting a yellow-bellied sapsucker on any particular d…

, Chapter: 3 -Problem: 56 >> Dape Corporation on East Pythian Street near the Copper Tennis Complex in Springfield, Missouri, is considering three different options for a brick-andmortar location for its very successful online tennis store. Dape has narrowed the options to four, including a do-nothing one. However, the market is very volatile; hence, each option has four possible states of nature, as shown in the following ta
Answer Preview: To find the different decision criteria for the brick-and-mortar location options, we will use the given table of possible states of nature and their corresponding payoffs for each option. (a) Maximax …

, Chapter: 6 -Problem: 51 >> Ji-Hun Li sells CDs that contain 25 software packages that perform a variety of financial functions, including net present value, internal rate of return, and other financial programs typically used by business students majoring in finance. Depending on the quantity ordered, Ji-Hun offers the following price discounts. The annual demand is 2,000 units on average, and the setup cost to produce the
Answer Preview: a) To find the optimal number of CDs to produce at a time, we can use the Economic Order Quantity (E…

, Chapter: 1 -Problem: 17 >> Raphaël Bonnot (see Problem 1-16) is trying to find a new supplier that will reduce the variable cost of production to €15 per unit. If Raphaël was able to succeed in reducing this cost, what would the breakeven point be?  Data in Problem 1-16Raphaël Bonnot sells handcrafted yard decorations at trade fairs in France. The variable cost to make these decorations is €20 each, and they are sold for €5
Answer Preview: To find the breakeven point after reducing the variable cost of production to 15 per unit, we need t…

, Chapter: 14 -Problem: 34 >> The hit Broadway musical Jefferson is playing at the Richard Rodgers Theatre. Its producers have determined that if it is sold out on any one night, then there is a 96% chance that it will be sold out on the next night. Moreover, if it is not sold out on any one night, then there is an 80% chance that it will be sold out on the next night. Determine the associated transition probabilities matrix a
Answer Preview: To determine the associated transition probabilities matrix and the equilibrium probability of selling out on any particular night, we can set up a sy…

, Chapter: 12 -Problem: 9 >> Briefly describe PERT/Cost and how it is used.
Answer Preview: PERT/Cost is a project management techniqu…

, Chapter: 4 -Problem: 33 >> Annual rainfall plays an important role in corn agriculture. The drought of 2011 literally affected corn prices for years. Given the following data, build a model and predict the harvest for 2023 given that the total rainfall was 7.18 inches. Critique your prediction. Transcribed Image Text: YEAR 2
Answer Preview: To build a model and predict the corn harvest for 2023 based on the given data, you can use a regression analysis. Here are the steps to follow: Organ…

, Chapter: 1 -Problem: 16 >> Raphaël Bonnot sells handcrafted yard decorations at trade fairs in France. The variable cost to make these decorations is €20 each, and they are sold for €50. The cost to rent a booth at the fair is €150. How many decorations must Raphaël sell to break even?
Answer Preview: To calculate the break-even point, we need to consider both the variable cos…

, Chapter: 2 -Problem: 58 >> Goodman Enterprises, located on McCulloch Road in Orlando, Florida, sells officially licensed university T-shirts. The management at Goodman has been tracking sales of their “We Are . . . ” T-shirts. The annual sales of these shirts are known to follow a normal distribution with a mean and a variance of 10,000. Find the probability that shirt sales next year will be µ ± 2?.
Answer Preview: To find the probability that shirt sales next year will be within 2, where is the mean and is the st…

, Chapter: 1 -Problem: 15 >> Mandisa Fox started a company, Foxy Shirts, which manufactures imprinted shirts for special occasions. Since day one, Mandisa has rented the equipment from a local printing shop when necessary. The cost of using the equipment is $350. The materials used in one shirt cost $8, and Mandisa can sell these shirts for $15 each.(a) If Mandisa sells 20 shirts, what will the total revenue be? What will the
Answer Preview: (a) To calculate the total revenue, we multiply the selling price per shirt by the number of shirts …

,

, Chapter: 6 -Problem: 32 >> Morgan Arthur has spent the past few weeks determining inventory costs for Armstrong, a toy manufacturer located near Cincinnati, Ohio. Morgan knows that annual demand will be 30,000 units per year and that the carrying cost will be $1.50 per unit per year. The ordering cost, on the other hand, can vary from $45 per order to $50 per order. During the past 450 working days, Morgan has observed the
Answer Preview: To determine the Economic Order Quantity (EOQ) for each possible ordering cost and the EOQ for the e…

, Chapter: 9 -Problem: 39 >> Tanaka Construction would like to determine the least expensive way of connecting houses it is building with cable TV. It has identified 11 possible branches or routes that could be used to connect the houses. The cost in hundreds of dollars and the branches are summarized in the following table.(a) What is the least expensive way to run cable to the houses? (b) After reviewing cable and installat
Answer Preview: (a) To find the least expensive way to run cable to the houses, we need to identify the minimum cost path among the 11 possible branches or routes. Th…

, Chapter: 5 -Problem: 44 >> The following table gives the average monthly exchange rate between the U.S. dollar and the euro for 2018. It shows that 1 euro was equivalent to 1.22 U.S. dollars in January 2018. Develop a trend line that could be used to predict the exchange rate for 2019. Use this model to predict the exchange rate for January 2019 and February 2019.
Answer Preview: To develop a trend line that can be used to predict the exchange rate for 2019, we can use a simple linear regression model. This model assumes a line…

,

, Chapter: 1 -Problem: 27 >> Sloan Trucking, Inc., headquartered on Mammoth Road in Lowell, Massachusetts, needs to replace its small fleet of new delivery vans. The management at Sloan has narrowed the options down to just two. The first option has an initial cost of $180,000 and an annual maintenance cost of $18,000, while the second option has an initial cost of $220,000 and an annual maintenance cost of $10,000. (a) Using
Answer Preview: To determine when the second option becomes the most economical and which alternative should be chos…

, Chapter: 2 -Problem: 59 >> Hall’s Golf Shop on East Lane Avenue in Columbus, Ohio, specializes in custom fitting woods and irons to best suit a player’s swing and stature. If  the number of fittings per week follows a normal distribution, the probability of equaling or exceeding 12 fittings in a week is known to be small at 0.0228, and the mean is known to be 10 times the standard deviation (i.e., µ/? = 10), then what is th
Answer Preview: Let's denote the mean number of fittings per week as , and the standard deviation as . According to …

, Chapter: 8 -Problem: 15 >> Monisha Black’s family owns five parcels of farmland, referred to as the southeast sector, north sector, northwest sector, west sector, and southwest sector. Monisha is involved primarily in growing wheat, alfalfa, and barley crops and is currently preparing the production plan for next year. The Pennsylvania Water Authority has just announced its yearly water allotment, with the Black farm receiv
Answer Preview: (a) Formulating Monisha's production plan: To formulate the production plan, we need to deter…

, Chapter: 19 -Problem: 1 >> What is a two-person, zero-sum game?
Answer Preview: A two-person, zero-sum game is a type of game in game theory, a branch of mathematics that studies d…

, Chapter: 5 -Problem: 2 >> What is a time-series forecasting model?
Answer Preview: A time-series forecasting model is a statistical or machine learning technique used to predict future values based on historical data points collected …

, Chapter: 14 -Problem: 8 >> Rithisak Cahnman is the proud owner of a 1955 sports car. On any given day, Rithisak never knows whether the car will start. Ninety percent of the time it will start if it started the previous morning, and 70% of the time it will not start if it did not start the previous morning.(a) Construct the matrix of transition probabilities. (b) What is the probability that it will start tomorrow if it sta
Answer Preview: A. Assuming S denotes car starting and N denotes not starting. Therefore, the tra…

, Chapter: 1 -Problem: 1 >> Southwestern University (SWU), a large state college in Stephenville, Texas, 30 miles southwest of the Dallas/Fort Worth metroplex, enrolls close to 20,000 students. The school is the dominant force in the small city, with more students during the fall and spring semesters than permanent residents. A longtime football powerhouse, SWU is a member of the Big Eleven conference and is usually in the t
Answer Preview: To address Dr. Starr's requirements, let's calculate the necessary information: (1) Total fixed cost per game: Salaries for food services: $60,000 Sta…

, Chapter: 1 -Problem: 18 >> Kesia D’Ann is planning to pay for tuition by selling programs at the football games for State University. There is a fixed cost of $400 for printing these programs, and the variable cost is $3. There is also a $1,000 fee that is paid to the university for the right to sell these programs. If Kesia was able to sell programs for $5 each, how many would have to be sold in order to break even?
Answer Preview: To calculate the break-even point, we need to consider the total cost …

, Chapter: 6 -Problem: 43 >> Dileep Tomar receives 5,000 tripods annually from Quality Suppliers to meet the annual demand. Dileep runs a large photographic outlet, and the tripods are used primarily with 35-mm cameras. The ordering cost is $15 per order, and the carrying cost is 50 cents per unit per year. Quality is starting a new option for its customers. When an order is placed, Quality will ship one-third of the order ev
Answer Preview: To determine the order quantity and total cost for each option, we'll calculate the Economic Order Q…

, Chapter: 22 -Problem: 8 >> Explain what the Cj - Zj value indicates in the simplex tableau.
Answer Preview: In linear programming, the Simplex method is an iterative algorithm used to optimize linear objective functions subject to linear inequality constrain…

, Chapter: 5 -Problem: 2 >> JVB Electric is an energy company headquartered in the college town of Iowa City, Iowa. JVB operates several compressed air energy storage (CAES) devices next to their colossal wind farm that harvests, on average, 636 MWh per year or, approximately, a tenth of the renewable energy portfolio of Iowa.  Wind energy production in Iowa is generally higher at night when demand and prices are low. Hence,
Answer Preview: Developing a Trend Line To analyze the historical data on the number of changeovers per year, we use…

, Chapter: 14 -Problem: 14 >> The University of South Taiwan has had steady enrollments over the past 5 years. The school has its own bookstore, called University Book Store, but there are also three private bookstores in town: Loupot’s Book Store, College Book Store, and Battle’s Book Store. The university is concerned about the large number of students who are switching to one of the private stores. As a result, South Taiwan
Answer Preview: To determine the market shares for the next period, we need to calculate the steady-state probabilit…

, Chapter: 14 -Problem: 35 >> Griffin is studying the length of a particular capacitated queue on the factory floor of Blackhurst Enterprises. He samples the data and makes point estimates of the proportions of going from a particular queue length to another queue length each hour. These proportions (probabilities) are shown below.Determine the equilibrium probabilities of queue lengths of 0, 1, 2, and 3. What does this tell y
Answer Preview: To determine the equilibrium probabilities of queue lengths 0, 1, 2, and 3, we need to find the stationary probabilities for each queue length. In the context of Markov chains, these are the probabili…

, Chapter: 6 -Problem: 1 >> EOM Enterprises owns and operates a small bakery on North Sprigg Street in Cape Girardeau, Missouri. One of their most popular items is Redhawk Rolls, which are baked every Sunday afternoon. Online sales of Redhawk Rolls have been steady. The rolls are sold in boxes containing 12 rolls each. Weekly demand for the rolls and the associated probabilities are shown in the following table:A box of roll
Answer Preview: To determine how many boxes of Redhawk Rolls EOM Enterprises should produce each week to maximize average profit, we'll first need to calculate the expected demand, expected sales, expected revenue, e…

, Chapter: 12 -Problem: 2 >> Amir Saber, manager of the Winter Park Hotel, is considering how to restructure the front desk to reach an optimum level of staff efficiency and guest service. At present, the hotel has five clerks on duty, each with a separate waiting line, during the peak check-in time of 3:00 pm to 5:00 pm. Observation of arrivals during this time shows that an average of 90 guests arrive each hour (although th
Answer Preview: To determine the average amount of time a guest spends checking in under each option, we need to calculate the average waiting time in line and the av…

, Chapter: 15 -Problem: 4 >> Explain the difference between c-charts and p-charts.
Answer Preview: C-charts and P-charts are two types of control charts used in statistical process control to monitor and control the quality of a process. They are bo…

, Chapter: 24 -Problem: 1 >> What is the purpose of business analytics?
Answer Preview: The purpose of business analytics is to utilize data, statistical methods, and technology to analyze past and present business performance, identify t…

Additional Information

8 Reviews for Quantitative Analysis for Management Textbook Questions And Answers