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Q1) Lauren Moore has sold her business for $500,000 and wishes to invest in condominium units (which she intends to rent) and land (which she will lease to a farmer). She evaluates that she will get the annual return of $8,000 for each condominium and $6,000 for each acre of land. Condominium unit costs $70,000, and land costs $30,000 per acre. Condominium will cost her $1,000 per unit, an acre of land will cost $2,000 for maintenance and upkeep, and $14,000 has been budgeted for these annual expenses. Lauren wishes to know how much to invest in condominiums and land to maximize her annual return.
a) Prepare a mixed integer programming model for this problem.
b) Solve this model using computer.
Determine the 95% confidence interval for your estimate what data have you utilized as the basis of your predictions what suppositions have you made.
Linear programming problems. Computethe following linear programming problem. Among which of the following points (X,Y) is feasible.
Appalachian Coal mining believes it can enhance labor productivity and therefore net revenue by reducing air pollution in its mines. It estimates that the marginal cost function for reducing pollution by installing additional capital equipment is.
The 50 members of the placebo group had blood pressure lowered by an average of 15 points with standard deviation 8 points. To analyze this information we will use a, When testing whether or not the increases in spending are different, the test is ..
By using the maximax criterion, what decision should be made by the decision maker?
Test to see if the mean cell phone bill has changed since 2004. Use a .05 level of significance for the test.
The budgeting process for a Midwestern college resulted in expense forecasts for the coming year (in $ millions) of $9, $10, $11, $12, and $13. Since the actual expenses are unknown, the following respective probabilities are assigned: .3, .2, .25..
Use Excel and the data to test whether the mean alcohol expenditures for UCM students is equal to that of SBU students using a 1 % level of significance.
This result prompts a test administrator to claim that standard deviation for eighth graders on examination is less than 29.At a = 0.10, is there sufficient evidence to support administrator's claim?
Times spent studying by students in the week before final exams follow a normal distribution with standard deviation 8 hours. A random sample of four students was taken in order to estimate the mean study time for the population of all students.
Based on these results, the proportion of the variation in 1993 winnings that is explained by the average number of putts per round and driving distance
Assume that the distribution of heights of adults American normally distributed, with mean 69 inches and standard deviation 2.8 inches.
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