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

Statistical investigation, #explanation of methods of collection of data..

#explanation of methods of collection of data..

Rejection Region (graded), How is the rejection region defined and how is t...

How is the rejection region defined and how is that related to the z-score and the p value? When do you reject or fail to reject the null hypothesis? Why do you think statisticians

correlation, i will like to submit my project for you to do on chi-square,...

i will like to submit my project for you to do on chi-square, ANOVA, and correlation and simple regression. how can we do this?

Mareg, MAREG is the software package for the analysis of the marginal regr...

MAREG is the software package for the analysis of the marginal regression models. The package permits the application of generalized estimating equations and the maximum likelihoo

Explain interim analyses, Interim analyses : An analysis made before the pl...

Interim analyses : An analysis made before the planned end of a clinical trial, typically with the aim of detecting the treatment differences at the early stage and thus preventing

Kaiser''s rule, Kaiser's rule is the  rule frequently used in the principa...

Kaiser's rule is the  rule frequently used in the principal components analysis for selecting the suitable the number of components. When the components are derived from correlati

Mathamatical expection, importance of mathamatical expection in business

importance of mathamatical expection in business

Doane''s rule, A rule for computing the number of classes to use while cons...

A rule for computing the number of classes to use while constructing a histogram and  can be given by   here n is the sample size and ^ γ is the estimate of kurtosis.

Computer-intensive methods, Computer-intensive methods : The statistical me...

Computer-intensive methods : The statistical methods which require almost identical computations on the data repeated number of times. The term computer intensive is, certainly, a

Randomized encouragement trial, Randomized encouragement trial   is the cl...

Randomized encouragement trial   is the clinical trials in which the participants are encouraged to change their behaviour in a particular manner (or not, if they are allocated to

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