A. Julia Robertson is considering renting a food booth at her school. She is seeking ways to finance her last year and thought that a food booth outside her school’s stadium would be ideal. Her goal is to earn the most money possible thereby increasing her earnings. In this case problem, she decided to sell pizza, hotdogs and BBQ sandwiches. The following LP model illustrates the maximum net profit and constraints that will determine whether or not to least the booth. Z = $ .75(X1) + $1.05(X2) + $1.35(X3)

Given the following remains true:
$ .75(X1) + $1.05(X2) + $1.35(X3) =0
and,X2/X3 >=2; Solve for 0 for Excel: X2 >= 2(X3); X2 – 2(X3)>=0 Where X1, X2, and X3 are Pizza, Hotdog and BBQ Sandwiches respectively and are greater than 0.
Based on the above LP model, Julie is expected to earn a profit of $2,250.00. After paying for rental lease, she has earned a net profit of $1250.00. The model suggests that she rents the booth and sell only pizza and Hotdog due to her spacing constraints. This will be the best option to achieve optimal results. B.If Julia were to borrow more money to purchase more ingredients this would change her above profit. Any change in a coefficient in a parameter is carefully analyzed using a sensitivity analysis. This analysis identifies any effect an independent variable might have on Julia’s given constraints, in this case, her budget. This increase will generate an increase in product availability and also profitability.

Based on the sensitivity analysis, the upper limit of the sensitivity range for budget is $158.00 allowing her to have a maximum budget of $1658.00. Her shadow price reflects an increase of $1.50 for any additional resource. Therefore if she borrows the maximum of $158.88, she will yield an increase in profit of $238.32 and total profit of $2,488.32. However, not all of her constraints are affected, as she still has to work within her specified area limits. This will pose a maximum of how...

...Julia’s FoodBooth
Strayer University
Quantitative Methods MAT540
December 12, 2012
Dr. L. Joseph
Introduction
Julia is a senior at Tech, and she’s investigating different ways to finance her final year at school. She is considering leasing a foodbooth outside the Tech stadium at home football games. Tech sells out every home game, and Julia knows, from attending the games herself, that...

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MAT540 MIDTERM EXAM
1. Deterministic techniques assume that no uncertainty exists in model parameters.
2. A continuous random variable may assume only integer values within a given interval.
3. A joint probability is the probability that two or more events that are mutually exclusive can occur simultaneously.
4. A decision tree is a diagram consisting of circles decision nodes, square probability nodes, and branches.
5....

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MAT540 MIDTERM EXAM
1. Regret is the difference between the payoff from the best decision and all other decision payoffs.
2. Variable costs are independent of volume and remain constant.
3. Regret is the difference between the payoff from the
4 A _________ period of real time is represented by a __________ period of simulated time.
5. A seasonal pattern is an up-and-down repetitive movement within a trend occurring...

...Final Examination
Math 540 Quantitative Methods
Good luck on the exam. I hope you have enjoyed the course. Dr. West
Multiple Choice (2 points each) (Select 8 – drop 1)
______1) For your project, what one way will not possibly generate increased profit?
a) Increase your building space or lot size.
b) Decrease the money paid to employees.
c) Refinance the loan at a lower rate.
d)...

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MAT540 Midterm Exam
1. Deterministic techniques assume that no uncertainty exists in model parameters.
2. A continuous random variable may assume only integer values within a given interval.
3. An inspector correctly identifies defective products 90% of the time. For the next 10 products, the probability that he makes fewer than 2 incorrect inspections is 0.736.
4. A decision tree is a diagram consisting of circles decision...

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MAT540 Week 4 Homework
Chapter 15 problems
2. The manager of the Carpet City outlet needs to make an accurate forecast of the demand for SoftShag carpet (its biggest seller).If the manager does not order enough carpet from the carpet mill,customers will buy their carpet from one of Carpet City’s many competitors. The manager has collected the following demand data for the past 8 months:
Month Demand for Soft Shag Carpet (1,000 yd.)...

...Assignment #3: Julia’s FoodBooth
Quantitative Methods 540
Buddy L. Bruner, Ph.D.
Shirley Foster
11/25/2012
Assignment 3: Case problem “Julia’s FoodBooth” Page 1
A. Julia Robertson is making an allowance for renting a foodbooth at her school. She is seeking ways to finance her last year and believed that a foodbooth...

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