What is the maximum average test score

Assignment Help Mathematics

Reference no: EM131065569

Homework Set 1

1. Enrollment Management. An engineering department chair wants to maximize the use of scholarship dollars to shape the enrollment of the incoming freshmen. All applicants take an engineering aptitude test and receive a scholarship based on their score. Here is the scholarship award amount:

Test Score	80	85	90	95	100
Scholarship Amount	$2,290	$2,590	$3,250	$3,880	$4,150

The department chair wants to

award scholarships to 100 students
with at least 5 scholarships given to students in each test score
and a total of $350,000 spent on the 100 scholarships.

What is the maximum average test score the freshmen class can have?

2. Make or Buy. A sudden increase in the demand for smoke detectors has left Acme Alarms with insufficient capacity to meet demand. The company has seen monthly demand from its retailers for its AC and battery-operated detectors rise to 20,000 and 10,000 respectively. Acme's production process involves three departments: fabrication, assembly, and shipping. The relevant quantitative data on production and prices are summarized as follows:

	Monthly Hours Available	Hours/Unit (AC)	Hours/Unit (Battery)
Fabrication	2,800	0.1	0.14
Assembly	3,000	0.11	0.15
Shipping	2,300	0.1	0.13

	In House		Subcontracted
	AC	Battery	AC	Battery
Variable cost/unit	$19.90	$17.50	$21.30	$21.30
Retail Price	$31.90	$28.10	$31.90	$28.10

The company also has the option to obtain additional units from a subcontractor, who has offered to supply up to 20,000 units per month in any combination of outlet and battery-operated models at the charge shown in the chart. For this price, the subcontractor will test and ship its models directly to the retailers without using Acme's production process. What is the maximum profit? How many of each type should they fabricate themselves, and how many should they buy from the subcontractor? (fractional decisions are acceptable)?

NOTE: I want these answers in excel sheet using solver of linear programming and description of steps in excel sheet.

Attachment:- 1577527_1_Tools-Homework-2016-su-1.docx

Reference no: EM131065569

Questions Cloud

What is its expected return : Expected Return A company's current stock price is $86.40 and it is likely to pay a $5.40 dividend next year. Since analysts estimate the company will have a 13% growth rate, what is its expected return?

Asset whose value is based on expected future cash flows : The value of an asset whose value is based on expected future cash flows is determined by the present value of all future cash flows the assets will generate. Given the case scenario and target audience provided, select and discuss a simple asset sit..

Describe the essential characteristics of bond : Describe the essential characteristics of a bond and how these characteristics interact to determine bond value, inclusive of how both the interest rate and coupon rate influence bond value and pricing.

Raising funds with preferred stock : Norman Entertainment Corporation recently sold an issue of preferred stock at $45 per share. The dividend is $7.55, and the issuance costs are $4 per share. What is the cost to Norman Entertainment of raising funds with preferred stock?

What is the maximum average test score : What is the maximum average test score the freshmen class can have?

How price controls affect managerial decision-making process : Assume that a dress shirt is priced at $120.00 At that price six stores in a district sold 650 shirts in a week. Then all six stores declared a sale: buy one get one free. This advertisement increased the sale to 3050 shirt in the following week. ..

Develop a summary that contains the monthly payment : Buying a home is the biggest single investment or purchase that most individuals make. This project is designed to give you some insight into the home-buying process and the associated costs.

Three major characters from the novel : Cannery Row by John Steinbeck. Choose three major characters from the novel and discuss how each one contributes to the group psyche ( brain ) of the cannery Row area. Use quotes from the novel to prove main points.

Summarize the results of your power analysis : Summarize the results of your Power Analysis. P. S. I created this summary to show what information/statistics to present and how to present it.

User Account

All Pages