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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.
Exam is given to 20 randomly chosen students and their average length of t time needed to finish exam was 54 minutes with standard deviation of 5.99 minutes. Test instructor's claim at the 0.05 level of significance.
Compute the mean number and median number of apples in a bag.
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Calculate the standard error. With 95% confidence, find out the margin of error?
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What is the probability that the mean weight for a sample of 40 trout exceeds 405.5 grams?
With this important detail, are there any significant differences with LSD?
In a bumper test, three types of autos were deliberately crashed into a barrier at 5 mph, and the resulting damage (in dollars) was estimated. Five test vehicles of each type were crashed, with the results shown below. Research question: Are the ..
I survey 50 potential consumers regarding their interest in the product, 34 express an interest in purchasing it. The maximum price each would be willing to pay is shown below.
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