Determining cheapest way of manufacturing item

Assignment Help Basic Statistics
Reference no: EM1321832

Q1) New Age Pharmaceuticals manufactures the drug NasaMist from 4 chemicals. Today, company should manufacture1000 pounds of drug. Three active ingredients in NasaMist are A, B, and C. By weight, at least 8% of NasaMist should consist of A, at least 4% of B, and at least 2% of C. Cost per pound of each chemical and amount of each active ingredient in 1 pound each of chemical. It is essential that at least 100 pounds of chemical 2 are utilized. Find out the cheapest way of manufacturing today's batch of NasaMist.

NewAge data

Cost/lb of chemicals

Chemical 1

$8

Chemical 2

$10

Chemical 3

$11

Chemical 4

$14

 

Ingredient/lb of chemical

 

 

A

B

C

Chemical 1

0.03

0.02

0.01

Chemical 2

0.06

0.04

0.01

Chemical 3

0.10

0.03

0.04

Chemical 4

0.12

0.09

0.04

Reference no: EM1321832

Questions Cloud

Confidence interval and hypothesis testing for proportion : Estimate the 95% confidence interval for the proportion of the electorate that support this policy.
Describing the business also include a plot of the price : Generally describing the business also include a plot of the Price also Quantity data that you obtained.
Freight transportation services : Now, tow freight companies, one from State D (a WTO member state) and one from State E (a party to both the WTO and NAFTA), wish to provide overland freight transportation services in State C using trucks operating out of terminals in State D and ..
The sampling distributions of a sample statistic : The sampling distributions of a sample statistic
Determining cheapest way of manufacturing item : Find out the cheapest way of manufacturing today's batch of NasaMist.
Describing the car structure : Write down a definition statement which describes a Car structure variable initialized along with the following information: Make: Ford Model: Mustang.
Tax burden split between buyer also seller : Elucidate how is the tax burden split between buyer also seller.
Hypothesis test for mean with population standard deviation : Set up a null and alternative hypothesis to test whether this sample is falling below expectations.
Consumers want to spend on spaghetti when the price : Set all variables to their baseline values. Elucidate how much money do consumers want to spend on spaghetti when the price.

Reviews

Write a Review

Basic Statistics Questions & Answers

  Interpret ninetry percent confidence interval result

The standard deviation of the sample is $3,000. Interpret your findings.

  Estimating the probability with the given data

A certain airplane has 2 independent alternators to provide electrical power. The probability that a given alternator will fail on a 1 hour flight is 0.02. What is the probability that (a) both will fail? (b) Neither will fail? (c) One or the othe..

  Findout probabilities utilizing standard normal distribution

Findout probabilities utilizing standard normal distribution. If the debt is normally distributed with a standard deviation.

  Performing 1-sample t-test on data

Do 1-sample t-test to see if people in Chicago have travelled to fewer states than people nationwide.  Utilize the 10% (.10) level of significance.

  Confidence interval for mean

The formula for a 95% confidence interval yields the interval 640 ± 5.88. Find out whether each of the given statements is true or false.

  Analysis of data sets assignment

Analysis of data sets assignment

  Determining mean cost and standard deviation

Dinner B which costs $135.30 for dinner submitted by salesperson with mean cost of $117.50 and standard deviation of $30 per dinner?

  Reasonable guideline-significance level

At the .05 significance level, can we conclude that the guideline is still reasonable?

  Information to refuse hypothesis

No, there is not enough information to refuse hypothesis that proportion of male students who live on campus and proportion of female students who live on campus are same as the test value -1.65 is inside acceptance region (-1.96,1.96).

  Determining mean of money withdrawn from atms

If random sample of thirty six customer transactions points out that sample mean withdrawal amount is $172, is there evidence to think that population mean withdrawal amount is no longer $160? Determine the mean of data above?

  Probability for amount requested

What is the probability that: The amount requested is $80,000 or more?

  Control limits using x bar chart

Compute the probability of seven consecutive points falling above the centerline given a stable process. Is this probability associated with type I or type II error?

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!

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