Reference no: EM131262030
1. Even though independent gasoline stations have been having a difficult time, Susan Solomon has been thinking about starting her own independent gas station. Susan's problem is to decide how large her station should be. The annual returns will depend on both the size of the station and a number of marketing factors related to oil industry and demand for gasoline. After careful analysis, Susan developed the following table:
|
Size of Gasoline Station
|
Good Market ($)
|
Fair Market ($)
|
Poor Market ($)
|
|
Small
|
$1500
|
$750
|
-$500
|
|
Medium
|
$3500
|
$1500
|
-$1000
|
|
Large
|
$7500
|
$4500
|
-$20,000
|
1. What is the Maximax decision?
2. What is the Maximin decision?
3. What is the criterion of realism decision? Use α = 0.4.
4. Develop an Opportunity Loss Table.
5. What is the Minimax Regret Decision?
2. Data collected on the yearly demand for 50-pound bags of fertilizer at Sunshine Garden Supply are shown in the following table.
|
Year
|
Demand for Fertilizer (1,000s of Bags)
|
|
1
|
15
|
|
2
|
13
|
|
3
|
12
|
|
4
|
10
|
|
5
|
9
|
|
6
|
9
|
|
7
|
12
|
|
8
|
14
|
|
9
|
10
|
|
10
|
15
|
|
11
|
12
|
1. Develop a three-year moving average to forecast sales in year 12.
2. Develop a three-year weighted average to predict demand in year 12, in which sales in the most recent year is given a weight of 4, the second most recent year is weighted 2 and sales in the third most recent year has a weight of 1.
3. Develop a regression/trend line to estimate the demand for fertilizer in year 12.
4. Analysis of the forecasting errors indicates which forecasting method (moving average, weighted moving average or regression) is best in this situation?
3. Kaplan College has decided to "wire" its campus. The first stage in this effort is to install the "backbone," i.e., to connect all the buildings. The table below gives the distances between the various buildings on campus in hundreds of feet.
1. How should the buildings be connected to minimize the total length of cable?
2. What length of cable is required?
The buildings can be connected with a minimal length of 5800 feet of cable.
Q4. The following represents the distances in miles from a warehouse (node 1) to various cities in Montana. The major outlet store is located at node 7.
|
From Node
|
To Node
|
Distance
|
|
1
|
2
|
500
|
|
1
|
4
|
250
|
|
2
|
3
|
200
|
|
2
|
4
|
120
|
|
3
|
4
|
50
|
|
3
|
5
|
75
|
|
3
|
6
|
350
|
|
4
|
5
|
500
|
|
4
|
7
|
200
|
|
5
|
6
|
245
|
|
5
|
7
|
375
|
|
6
|
7
|
400
|
1. Find the 1) shortest route and 2) distance from Node 1 to Node 7.
Q5. The network of a city sewer system and their capacities are shown below. Remember that the arc has both capacity and reverse capacity. For example, row 1 is the flow from node 1 to node 2 and row 2 is the reverse flow from node 2 to node 1. There are seven branches in this network.
|
From Node
|
To Node
|
Fluid Flow
|
|
1
|
2
|
50
|
|
2
|
1
|
20
|
|
1
|
3
|
75
|
|
3
|
1
|
100
|
|
1
|
4
|
125
|
|
4
|
1
|
75
|
|
1
|
5
|
25
|
|
5
|
1
|
15
|
|
2
|
4
|
50
|
|
4
|
2
|
75
|
|
3
|
4
|
100
|
|
4
|
3
|
45
|
|
3
|
5
|
35
|
|
5
|
3
|
25
|
1. Determine the maximum flow (in hundreds of gallons of water per minute) from node 1 to node 5.
Q6. The governor of Michigan believes that the state can improve the state's poverty rate if the state can reduce the college debt carried by its citizens and if they can reduce the percent of the population not covered by health insurance. (This requires you to use the States Dataset file that is included in Doc Sharing->Instructor Graded Projects.)
1. Using the States Data Set and Excel DataAnalysis (Regression),create the multiple regression prediction equation of the form Y = β0 + β1(X1) + β2(X2)
2. Predict the poverty rate for Michigan if the college debt was $30,000 and the percent not covered by insurance was 10% or 10?
Q7. A concessionaire for the local ballpark has developed a table of conditional values for the various alternatives (stocking decisions) and states of nature (size of crowd).
|
Stocking Decision
|
Large Crowd ($)
|
Average Crowd ($)
|
Small Crowd ($)
|
|
Large Inventory
|
$15,000
|
$12,000
|
-$1,000
|
|
Average Inventory
|
$12,500
|
$25,000
|
$7,500
|
|
Small Inventory
|
$4,000
|
$3,000
|
$2,500
|
If the probabilities associated with the states of nature are 0.20 for a large crowd, 0.25 for an average crowd, and 0.55 for a small crowd, determine:
1. The alternative that provides the greatest expected monetary value (EMV).
2. The expected value of perfect information (EVPI).
Attachment:- Assignment.rar
|
Which statement seems to you most useful
: Which statement seems to you most useful? If, due to time constraints, your organization could only prepare one financial statement, which one-balance sheet, statement of income, or statement of cash flow-would you recommend? Why?
|
|
What was the goal of the human genome project
: What was the goal of the Human Genome Project? What makes you, you? Where do the instructions that make you, you come from? What are these instructions stored on?
|
|
Consumer that the coca cola company is targeting
: What types of demographic segmentation is each product's marketing most likely to include? - Which Coca-Cola products are most likely to lose customers to Coke Zero?
|
|
Identify a particular lymph disorder
: Address the following in your paper: Identify a particular lymph disorder. Provide information on the disorders of the lymph system.
|
|
Develop a three-year moving average to forecast sales
: Develop a three-year moving average to forecast sales in year 12. Develop a three-year weighted average to predict demand in year 12, in which sales in the most recent year is given a weight of 4, the second most recent year is weighted 2 and sales..
|
|
Analyze how the brand is positioned by its corporate owners
: Identify and interpret a brand in the current, US marketplace. Analyze how the brand is positioned by its corporate owners versus outside influences - for example, consumers or the whole marketplace.
|
|
Discuss how smoking has affected someone in your life
: Discuss how smoking has affected someone in your life. What disease(s) have they developed and do they still smoke? Based on our week's lecture on the respiratory system, what damage does smoking do to our bodies?
|
|
How the operon helps microbe survive and possibly thrive
: Explain how the operon helps microbe survive and possibly thrive in its environment. Include details about conditions that trigger expression of the gene(s). Explain when this regulation occurs: During transcription, translation, or posttranslation
|
|
Do buildings have identifiable features
: What are typical foods served in the culture? Are there any typical styles of dress?
|