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

Explanatory analysis, This term is sometimes used for the analysis of data ...

This term is sometimes used for the analysis of data from the clinical trial in which treatments A and B are to be compared under the suppositions that the patients remain on their

Expectaton, sales per day for a product are as follows: x= 10, 11, 12, 13 (...

sales per day for a product are as follows: x= 10, 11, 12, 13 (p)= 0.2, 0.4, 0.3, 0.1 obtain mean and variance of daily sale. if the profit is described by the following equation p

Develop an algebraic linear programming model, Duck Lovers Unlimited (DLU) ...

Duck Lovers Unlimited (DLU) Inc. assembles specially configured light jet aircrafts for airborne duck hunting. The quarterly demand forecasts for the upcoming fiscal year are:

Explain national lotteries, National lotteries : Games of chance held to he...

National lotteries : Games of chance held to heave money for particular causes. The first held in the UK took place in the year 1569 principally to raise money for repair of the Ci

Logistic regression - computing log odds without probabiliti, Please help w...

Please help with following problem: : Let’s consider the logistic regression model, which we will refer to as Model 1, given by log(pi / [1-pi]) = 0.25 + 0.32*X1 + 0.70*X2 + 0.

Tests for heteroscedasticity, Lagrange Multiplier (LM) test The Null Hy...

Lagrange Multiplier (LM) test The Null Hypothesis - H0: There is no heteroscedasticity i.e. β 1 = 0 The Alternative Hypothesis - H1:  There is heteroscedasticity i.e. β 1

Comprehensive report writing assignment help, Hamilton County judges try th...

Hamilton County judges try thousands of cases per year. In an overwhelming majority of the cases disposed, the verdict stands as rendered. However, some cases are appeale

Central tendency, explain the graphical method of measure of central tenden...

explain the graphical method of measure of central tendency

Quantitative Analysis for Management Chapter 4, 4-13. Students in a manage...

4-13. Students in a management science class have just received their grades on the first test. The instructor has provided information about the first test grades in some previou

#modelling, #how to analyse data

#how to analyse data

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