User Account

All Pages

Quantitative Methods, Advanced Statistics

Assignment Help:
After graduating from Tech Julia was unable to find regular employment and approached the Director of Athletics at Tech to request that she remain a vendor of the following year. The Director was so impressed by Julia’s progress and professionalism from the year before he decided to allow her to continue to be a vendor for the next season with the following conditions and changes:
Julia must do a 70:30 split of all of her profits with the Department of Athletics. Julia also has the ability to sell soft drinks. If she decide to sell soft drinks, she must agree to a 60:40 split; however, the department will not provide any monetary funding. Julia’s cost for the soft drinks are 55 cents, and she sells them for two dollars. She can expect to sell just as many soft drinks as all food items combined.
Julia must sell food from two (2) booths; however, she will pay the same price as she paid for one booth during the previous season.
The department of athletics is able to use the warming ovens owned by food services at no cost since all student athletes on scholarship have a meal plan. There are three (3) warming ovens available to Julia. The warming ovens are the same capacity as those used the previous season.
Julia has the same options available for the types of food to sell however, she is able to take advantage of a discount that the school receives from the same vendor she purchased the pizza, hot dogs and sandwiches from; the discount is 20%, 20% and 30% respectively.
Due to the operation of two (2) booths, Julia must hire at least two additional persons at the same rate as previously determined.
After paying off here loans from the previous season, she has $2750.00 in savings from a part-time job at the mall, which she is able to invest in the venture. If Julia clears at least $2000.00 in profit for each game after paying all her expenses, she believes it will be worth the partnership with the Department of Athletics.

Formulate and solve a linear programming model for Julia that will help you advise her on which offer to accept from the director if any. Julia’s younger brother who is a freshman at Tech wants to help Julia increase her profits by loaning her some money using his school refund check. Her brother’s only requirement is that she repays him by the end of the season and he is allowed to get into the games free by posing as one of her assistants and receiving free food for him and his girlfriend. If Julia decides to take him up on his offer, how much should she borrow, if anything?

What is your recommendation to Julia?

Related Discussions:- Quantitative Methods

Outliers - reasons for screening data, Outliers - Reasons for Screening Dat...

Outliers - Reasons for Screening Data Outliers are due to data entry errors, subject is not a member of the population that the sample is trying to represent, or the subject i

Explain o. j. simpson paradox, O. J. Simpson paradox is a term coming from...

O. J. Simpson paradox is a term coming from the claim made by the defence lawyer in murder trial of O. J. Simpson. The lawyer acknowledged that the statistics demonstrate that onl

Principal components regression analysis, Principal components regression a...

Principal components regression analysis is a process often taken in use to overcome the problem of multicollinearity in the regression, when simply deleting a number of the expla

Bioassay, Bioassay : It is an abbreviation of biological assay, which in it...

Bioassay : It is an abbreviation of biological assay, which in its classical form includes an experiment conducted on biological material to determine relative potency of test and

Dirichlet process, The distribution over distributions in the sense that ea...

The distribution over distributions in the sense that each draw from the process is itself the distribution. The name Dirichlet process or procedure is due to the fact that the ?ni

Unequal probability sampling, Unequal probability sampling is the sampling...

Unequal probability sampling is the sampling design in which the different sampling units in the population have different probabilities of being included in sample. The differing

Combine standard deviation, what is the combine standard deviation height f...

what is the combine standard deviation height from the follwing

Wilcoxon''s ranksum test, Wilcoxon's ranksum test is the distribution free...

Wilcoxon's ranksum test is the distribution free method or technique used as an alternative to the Student's t-test for assessing whether two populations have the same location. G

Pre analysis data screening, need answers to questions in book advanced and...

need answers to questions in book advanced and multivariate statistical methods

Determine the maximum amount of the commodity, A manufacturing company has ...

A manufacturing company has two factories F 1 and F 2 producing a certain commodity that is required at three retail outlets M 1 , M 2 and M 3 . Once produced, the commodity is

Write Your Message!

Captcha
Order Assignment

Featured Services

Order Now

Popular Subjects

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd