Assignment 3

Good Essays
Prepared by: Syed Mustafa Ahmed
Student ID: 500-513-715
Assignment #3
Professor: Amy Peng

Course: ECN 620

Question #1: Choosing optimal public transit fleet size Excel Solutions Q1
Q2
K
SUMPRODUCT

Solutions
5
2
5
1

Max (

290

Constraints
1

-1
0
<=
0

1
-1
-3
<=
0 1

5
>=
0

1

2
>=
0

1
5
>
0

How this table was created? The constrains and other valuable information that was given by the question and with manual analysis was inserted into the Excel spreadsheet in an appropriate format. The Excel Solver function was utilized in order to get the solutions.
Interpretation: This table gives us the optimal values of fleet size we should consider to solve the problem. Using the manual analysis we already know that the only possible cases are 3 and 4 respectively. But case 3 is most optimal because profit is maximized in it( 290) while in case 4( 215).

Question #2: Assigning milk to three variety stores problem.

Excel Solutions
How this table was created?
Choices values are binary and were chosen at random before the Excel Solver was computed. Number of gallons were given by the question alongside its respective probability. Revenue was also highlighted in the question. Demand one is $2 for one gallon, demand one for two gallons is $2-0.5=1.5 in which 0.5 is the opportunity cost, demand three for three gallon is 2-0.5-0.5=1. Same method is followed for demand two and three. Expected revenue of store one at one gallon is calculated by Demand one at one gallon*probability at one gallon + demand two at one gallon * probability at two gallons + demand three at one gallon * probability at three gallons. In numerical it will be (2*.06+2*0+2*0.4=2). Same method was considered to calculate expected revenue for all stores at two and three gallons respectively. Calculation are given below. Objective function was calculated by using Excel "SUMPRODUCT" of choices and expected revenue.
Expected

You May Also Find These Documents Helpful

  • Powerful Essays

    Assignment 3

    • 2530 Words
    • 11 Pages

    NORTHCENTRAL UNIVERSITY ASSIGNMENT COVER SHEET Student: Jason D. THIS FORM MUST BE COMPLETELY FILLED IN Follow these procedures: If requested by your instructor, please include an assignment cover sheet. This will become the first page of your assignment. In addition, your assignment header should include your last name, first initial, course code, dash, and assignment number. This should be left justified, with the page number right justified. For example: KnightJSKS7000-8…

    • 2530 Words
    • 11 Pages
    Powerful Essays
  • Satisfactory Essays

    Assignment 3

    • 255 Words
    • 2 Pages

    Assignment 3 ECON 103: Pingle A. The federal government recently ran a budget surplus, but has since returned to running a budget deficit. 1. Explain why reducing the budget deficit can cause short-term pain in the form of lower employment, higher unemployment, and a recession. 2. Explain why expansionary monetary policy would help decrease the likelihood of a recession if it were adopted at the same time the budget deficit was being reduced. 3. Present an analysis that identifies any long…

    • 255 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Assignment 3

    • 400 Words
    • 4 Pages

    BACHELOR OF COMPUTER SCIENCE (HONS) BACHELOR OF INFORMATION TECHNOLOGY (HONS) MAT 2204: MATHEMATICS FOR COMPUTING ASSIGNMENT 3: AUGUST 2014 SESSION Answer ALL Questions. 1. Find a solution to the recurrence relation for n 3 with initial conditions and . (8 marks) 2. Solve the recurrence relation an = 14an-1 – 49an-2 for n 2 if a0 = 3 and a1 = 35. (7 marks) 3. A company owns a fleet of 950 cars, each having either manual or automatic transmission and either 2 or 4 doors…

    • 400 Words
    • 4 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Assignment 3

    • 347 Words
    • 2 Pages

    Florida A&M University School of Business & Industry Assignment #3 From Exposure to Comprehension MAR 5930 Consumer Behavior Research Prepared By: Nathaniel Russell Causley, III Submission Date: February 10, 2015 1. Under Armour Brand Strategy Under Armour was partaking in many different strategies to make its brand personally relevant, surprising, and easy to process. The most convenient avenue they found into doing this was starting with the University of Maryland, the founder’s…

    • 347 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    Assignment 3

    • 1424 Words
    • 6 Pages

    MILLERSVILLE UNIVERSITY Geography Department Map Interpretation & Analysis Assignment 3 Due: GEOG 281 In the D2L Content area for this course, under the Assignment 3 section (where you found this document), find the link titled “Assignment 3 Map Links” and open it. The page you are taken to contains separate links for Parts A and B of this assignment. Part A: Introducing GIS using Lancaster County GIS Data Your course content pages illustrate how to navigate the map. In particular you should…

    • 1424 Words
    • 6 Pages
    Powerful Essays
  • Satisfactory Essays

    Assignment 3

    • 957 Words
    • 21 Pages

    10/28/2014 Assignment Print View Score: 100 out of 100 points (100%) 1. award: 20 out of 20.00 points Piscataway Plastics Company manufactures a highly specialized plastic that is used extensively in the automobile industry. The following data have been compiled for the month of June. Conversion activity occurs uniformly throughout the production process. Work in process, June 1—40,000 units: Direct material: 100% complete, cost of Conversion: 40% complete…

    • 957 Words
    • 21 Pages
    Satisfactory Essays
  • Good Essays

    Assignment 3

    • 694 Words
    • 3 Pages

    Assignment 3: Banking (16.0 points) 1. Visit the website of a large national bank, regional bank, or credit union, and use the information you find there to answer the questions below. EXAMPLE: Some large banks you might consider include Bank of America®, JPMorgan Chase®, Wells Fargo®, Citibank®, and U.S. Bank®. a. What is the name of the bank or credit union? (0.5 points) Bank of America. b. List three facts about savings account options at the bank or credit union…

    • 694 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    Assignment 3

    • 898 Words
    • 3 Pages

    poe____ Assignment 3: Banking (16.0 points) 1. Visit the website of a large national bank, regional bank, or credit union, and use the information you find there to answer the questions below. EXAMPLE: Some large banks you might consider include Bank of America®, JPMorgan Chase®, Wells Fargo®, Citibank®, and U.S. Bank®. a. What is the name of the bank or credit union? (0.5 points) bank of America b. List three facts about savings account options at the bank or credit union you chose. (3 sentences…

    • 898 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    ASSIGNMENT 3

    • 268 Words
    • 1 Page

    ASSIGNMENT #3 1. The content of liquid detergent bottles is being analyzed, twelve bottles, randomly selected from the process, are measured, and the results are as follows (in fluid ounces): 16.05, 16.03, 16.02, 16.04, 16.05, 16.01, 16.02, 16.02, 16.03, 16.01, 16.00, 16.07 (a) Calculate the sample average. (b) Calculate the sample standard deviation. 2. A lot of size N = 30 contains three nonconforming units. What is the probability that a sample of five units selected at random contains exactly…

    • 268 Words
    • 1 Page
    Good Essays
  • Good Essays

    assignment 3

    • 584 Words
    • 3 Pages

    Int. Bus. 11/12/13 Assignment #3 Case Study from Chapter 3: DHL, FedEx, and UPS: Shifting fortunes in the global logistics services industry I have been told you where sent here to speak with me in hopes to better understand the shipping industry among DHL, FedEx and UPS. Unfortunately I don’t normally consult with people in this area, but I did a little research to hopefully help you out some. From what I could find the shipping business revolves almost 100% around the economy’s health, such…

    • 584 Words
    • 3 Pages
    Good Essays