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The I. Kruger Paint and Wallpaper Store is a large retain distributor of the Supertrex brand of vinyl wallcoverings. Kruger will enhance its citywide image in Miami if it can outsell other local stores in total number of rolls of Supertrex next year. It is able to estimate the demand function as follows:
Number of rolls of Supertrex sold = (20 x Dollars Spent on Advertising) + (6.8 X Dollars spent on in-store displays) + (12 x Dollars invested in on-hand wallpaer inventory) - (65,000 x Percentage markup taken above wholesale cost of roll).
The store budgets a total of $17,000 for advertising, in-store displays, and on-hand inventory of Supertrex for next year. It decides it must spend at least $3,000 on advertising; in addition, at least 5% of the amount invested in on-hand inventory should be devoted to displays. Markups on Supertrex seen at other local stores range from 20% to 45%, Kruger decides that its markup had best be in this range as well.
(a) Formulate as an LP Problem.(b) Solve the Problem. (Can use Excel Solver or QM)(c) What is the difficulty with the answer?(d) What constraint would you add?
If garage is robbed, determine the probability doors were left open?
A survey was conducted to measure height off men. In survey, respondents were grouped by age. In the 20-29 age group, the heights were normally distributed, with a mean of 69.2 inches and a standard deviation of 2.0 inches.
Use Chebyshev's theorem to find what percent of the values will fall between 120 and 150 for a data set with mean of 135 and standard deviation of 7.5.
An experiment ws designed to estimate the mean difference in weight gain for pigs fed ration A as compared with those fed ration B. Eight pairs of pigs were used. The pigs within each pair were littermates.
Describe the target population, sampling frame, sampling unit, and observation unit. Discuss any possible sources of selection bias or inaccuracy of responses.
A student scores 91 on the midterm exam for physics. Assume the class scores are normally distributed, with a mean of 65 and standard deviation of 15. Into what percentile does this student fall?
A "one-shot" device can be used only once; after use, the device (e.g. a nuclear weapon, space shuttle, automobile air bag) either is destroyed or must be rebuilt.
You have at least $30 in change in your drawer, consisting of dimes and quarters. Write an inequality that shows the different number of coins in your drawer.
What is the probability that none of the next eight customers who order beer will order light beer? What is the probability that one customer will? What is the probability that two customers will?
Evaluate probability values using normal distribution and How many students earned more than $36,000? _______
A manufacturer wants to increase the absorption capacity of a sponge. Based on past data, the average sponge could absorb 3.5 ounces.
Assume independent events. Why might the assumption of independence be violated? (b) Why might a driver be tempted not to use a seat belt "just on this trip"?
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