Julia’s Food Booth MAT 540: Quantiative Methods Professor Paul Hollandsworth February 28‚ 2013 Julia’s Food Booth * (A) Formulate and solve an L.P. model for this case. * Please see attached excel file. * (B) Evaluate the prospect of borrowing money before the first game. * Julia does not need to borrow money if she does not want to. She can still make over $1000 profit without it. However‚ She will not be able to hire help and stay above $1000. If she was to decide to
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CLICK TO DOWNLOAD MAT 540 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. A table of random numbers must be
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Explain the main differences among integers‚ rational numbers‚ real numbers‚ and irrational numbers. Integers are the natural numbers of (0‚ 1‚2‚3‚4….)and the negative non zero numbers of (-1‚-2‚-3‚-4….)and so forth. Integers are numbers without a fractional or decimal component. Example: 23‚ 5‚ and -567 are integers‚ 8.45‚ 5½‚ and √2 are not integers. Integers are any number that can be expressed as the ratio of two integers. All integers are rational because integers can be expressed as a ratio
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Mat 540 Quiz 3 Question 1 .2 out of 2 points Correct The following inequality represents a resource constraint for a maximization problem: X + Y ≥ 20 Answer Selected Answer: False Correct Answer: False Question 2 .2 out of 2 points Correct Graphical solutions to linear programming problems have an infinite number of possible objective function lines. Answer Selected Answer: True Correct Answer: True Question 3 .2 out of 2 points Correct Surplus variables are only associated
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Letter to Newspaper University of Phoenix Teaching and Learning Strategies HSN/540 Letter to Newspaper Traditionally adult learners are students who are pursuing education in either‚ college (undergraduate or graduate degrees)‚ vocational or occupational programs‚ continuing education or noncredit courses‚ correspondence courses and tutoring‚ as well as courses and other educational activities provided by employers‚ community groups‚ and other providers ("Adult Learner
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Assignment 3: Julia Bond Booth Julia is a senior at Tech‚ and a small entrepreneur. She wants to lease a food booth outside the Tech stadium for the home football games‚ so she can make profit to finance a final year. Tech sells out every home game‚ and the one thing Julia knows from attending the every games‚ is that everyone eats a lot of food. She has a booth‚ and the booths are not very large. Vendors can sell either food or drinks on Tech property‚ but not both. Only the Tech athletic department
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Julia’s Food Booth Based on the LP model to maximize profit with the established constraints Julia should sell pizza and hotdogs and not BBQ sandwiches. Based on this model Julia will earn $2250.00 in profit. After buying food supplies for the next game she will have $750 remaining ($2250-1500). Julia’s goal was to clear $1000 in profit which she was not able to meet. It is not clear how Julia is paying for the booth rental each game‚ but assuming she is covering the costs with her profits from
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Question 1 2 out of 2 points | | | If variable costs increase‚ but price and fixed costs are held constant‚ the break even point will decrease. Answer | | | | | Selected Answer: | False | Correct Answer: | False | | | | | Question 2 2 out of 2 points | | | In general‚ an increase in price increases the break even point if all costs are held constant. Answer | | | | | Selected Answer: | False | Correct Answer: | False | | | | | Question
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ANSWERS 1. Consider the trade-story as if it describes two separate trades‚ where: In the first trade‚ the man buys something for $60 and sells it again for $70‚ so he makes a profit of $10. In the second trade‚ the man buys something for $80 and sells it again for $90‚ so he makes again a profit of $10. Conclusion: The man makes an overall profit of $10 + $10 = $20. You can also look at the problem as follows: The total expenses are $60 + $80 = $140 and the total earnings are $70 + $90 = $160
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Group Assignment 1 According to the output‚ three variables (section‚ bed and pool) are insignificant because the p-value of them are larger than 0.05. The relationship between the selling price and variables should be: Y= -49.59+4.04X1+32.97X2+11.09X3+29.15X4+22.52X5+12.92X6-25.66X7+1.59X8 X1=lot size X2=number of bathrooms X3= number of other rooms X4= number of stories X5 =number of fireplaces X6 = car garages X7 =whether or not the lot is fenced X8= age Q4: Based on the results
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