Reports
MM305 Quantitative Analysis for Managers
Unit 1 Project
1. Identify some possible problems in the quantitative analysis approach. • Conflicting viewpoints • Impact on other departments • Solutions can be outdated • Only one solution • Analyzing the solution
2. Create a mathematical model for determining the total costs involved in driving from Atlanta to New York City. Be sure to think critically about all possible costs included in the trip and include them in your model. Assume that you have $2,000 available before the trip, so solve your model to show the funds remaining after the trip.
Gas (g)- $400
Food (f)- $200
Lodging (l)- $400
Entertainment (e)- $100
Snow Chains (s)- $200
MISC.(M)- $200
(funds)-(g+f+l+e+s+M)=(2000)-(400+200+400+ 100+200+200)= 2000-1500=$500
3. Byron is planning to finance his college education by selling programs at the Kaplan University football games. There is a fixed cost of $400 for printing these programs, and the variable cost is $3. There is also a $1,000 fee paid to the University for the right to sell these programs. If Byron was able to sell programs for $5 each, how many would he have to sell to break even? How many would he have to sell to make a profit of $5,000?
S= 5, X=x, f=1400, v=3, Profit= 5000
Profit= sx-f-vx
5000=5x-1400-3x
5000=2x-1400
5000+1400=2x-1400+1400
6400=2x
6400/2=2x/2
3200=x
Bryon will need to sell 3200 programs to reach his profit of
Unit 1 Project
1. Identify some possible problems in the quantitative analysis approach. • Conflicting viewpoints • Impact on other departments • Solutions can be outdated • Only one solution • Analyzing the solution
2. Create a mathematical model for determining the total costs involved in driving from Atlanta to New York City. Be sure to think critically about all possible costs included in the trip and include them in your model. Assume that you have $2,000 available before the trip, so solve your model to show the funds remaining after the trip.
Gas (g)- $400
Food (f)- $200
Lodging (l)- $400
Entertainment (e)- $100
Snow Chains (s)- $200
MISC.(M)- $200
(funds)-(g+f+l+e+s+M)=(2000)-(400+200+400+ 100+200+200)= 2000-1500=$500
3. Byron is planning to finance his college education by selling programs at the Kaplan University football games. There is a fixed cost of $400 for printing these programs, and the variable cost is $3. There is also a $1,000 fee paid to the University for the right to sell these programs. If Byron was able to sell programs for $5 each, how many would he have to sell to break even? How many would he have to sell to make a profit of $5,000?
S= 5, X=x, f=1400, v=3, Profit= 5000
Profit= sx-f-vx
5000=5x-1400-3x
5000=2x-1400
5000+1400=2x-1400+1400
6400=2x
6400/2=2x/2
3200=x
Bryon will need to sell 3200 programs to reach his profit of