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

Cointegration, Cointegration : The vector of not motionless time sequence i...

Cointegration : The vector of not motionless time sequence is said to be cointegrated if the linear combination of the individual series is stationary. Facilitates suitable testing

Forecast, The particular projection which an investigator believes is most ...

The particular projection which an investigator believes is most likely to give an accurate prediction of the future value of some process. Commonly used in the context of the anal

Disease mapping, The method of displaying the geographical variability of t...

The method of displaying the geographical variability of the disease on maps using different colors, shading, etc. The logic is not new, but the arrival of computers and computer g

Latent class analysis, Latent class analysis is a technique of assessing w...

Latent class analysis is a technique of assessing whether the set of observations including q categorical variables, in specific, binary variables, consists of the number of diffe

Homework help, Q1: The growth in bad debt expense for Aptara Pvt. Ltd. Comp...

Q1: The growth in bad debt expense for Aptara Pvt. Ltd. Company over the last 20 years is as follows. 1997 0.11 1998 0.09 1999 0.08 2000 0.08 2001 0.1 2002 0.11 2003 0.12 2004 0.1

Buffon''s needle problem, Buffon's needle problem : A problem proposed and ...

Buffon's needle problem : A problem proposed and solved by the scientist Comte de Buffon in 1777 which includes determining the probability, p, which a needle of length l will inte

Differentiate, historigrams and histogram

historigrams and histogram

Fractional factorial design, Designs in which the information on main effec...

Designs in which the information on main effects and low-order inter- actions are attained by running only the fraction of the complete factorial experiment and supposing that part

Descriptive , Assume that a population is normally distributed with a mean ...

Assume that a population is normally distributed with a mean of 100 and a standard deviation of 15. Would it be unusual for the mean of a sample of 20 to be 115 or more?

Change point problems, Change point problems : Problems with chronologicall...

Change point problems : Problems with chronologically ordered data collected over the period during which there is known to have been a change in the underlying data generation cou

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