Producers of a certain brand of refrigerator will make 4000 refrigerators available when the unit price is $340. At a unit price of $380, 8000 refrigerators will be marketed. Find the equation relating the unit price p of a refrigerator to the quantity supplied x if the equation is known to be linear. p = How many refrigerators will be marketed when the unit price is $420? refrigerators What is the lowest price at which a refrigerator will be marketed? $
Q: Develop a linear programming model to minimize the total dollars needed to be invested now to meet…
A: Excel Solver Model: Add the following solver parameters: Solution:
Q: A buyer for a large sporting goods store chain must place orders for professional footballs with the…
A: a) Let us consider the following given above data Here we first construct the payoff table. We know…
Q: A "What-If" analysis: A department store sells two popular models of wireless headphones, model A…
A: As per the given information, the excel formulas will be as follows.
Q: An ad campaign for a new snack chip will be conducted in a limited geographical area and can use TV…
A: Given data is Medium Cost Reached Quality TV 500 10000 30 Radio 200 3000 40 Newspaper 400…
Q: The cost of producing x units of a product during amonth is x1/2 dollars. Show that the minimum cost…
A: X1= number of Unit of the product produced during month 1 X2 = Number of Unit of the product…
Q: Kroeger supermarket sells its own brand of canned peas as well as several national brands. The store…
A: Case 1 - If Kroeger supermarket doesn't offer discount Let Kroeger stocks x cans of the company's…
Q: A business student at Nowledge College must complete a total of 65 courses to graduate. The number…
A: a. Let # of business courses = x # of non-business course = y Then we can formulate this problem as…
Q: strategy that maximizes the department store chain's expected profit earned by purchasing and…
A: πij= Revenue from regular price +Revenue from closeoutprice-cost of purchase =…
Q: A market analyst working for a small appliance manufacturer finds that if the firm produces and…
A: Answer (a) When given a graph of a profit equation with the number of items produced on the x-axis…
Q: Leach Distributors packages and distributes industrial supplies. A standard shipment can be packaged…
A: Linear programming problem: Max 6x1 + 10x2 + 8x3 s.t 2x1 + x2 + 3x3 <= 180 2x1 + 6x2 + 4x3 = 240…
Q: 1) When chef Paolo prices his speciality ‘pizza-n-all’ meal at £25, he sells 20 meals a day. When…
A: Given that - Price of ‘pizza-n-all’ meal = £25 Selling Quantity = 20 Total revenue = Price x…
Q: A company manufactures two products. If it charges price pi for product i, it can sell qi units of…
A: Given, q1 = 60 - 3p1 + p2 q2 = 80 - 2p2 + p1.
Q: In robust optimization, what is meant by the term "hard constraint"?
A: There are two types of constraints soft constraint and hard constraint. Robust optimization relates…
Q: When we consider the time value of money, a peso received in the future: is worth less than a peso…
A: The idea of the time value pf money is that the worth of cash got today is more than the worth of a…
Q: A trust officer at the Blacksburg National Bank needs to determine how to invest $150,000 in the…
A: Let the amount invested in Bond A be Xa, Bond B be Xb, Bond C be Xc, Bond D be Xd, and Bond E be Xe…
Q: A buyer for a large department store chain must place orders with an athletic shoe manufacturer six…
A: Given, Cost Price = $65 Selling Price = $85 Closeout sell price = $55 Demand (100s of pairs)…
Q: A television set sells for $525 U.S. dollars. In the spot market, $1= 125 Japanese yen. If…
A: Note: We are authorized to answer only one question at a time. Since it is not mentioned which…
Q: Maximizing Profit Johnson's Household Products has a division that produces two sizes of bar soap.…
A: The retail price of the 3.5-oz size bar soaps is p $ per 100 The retail price of the 5-oz size bar…
Q: Leach Distributors packages and distributes industrial supplies. A standard shipment can be packaged…
A: Based on the data given, we understand it is a Linear Programming Problem. The decision variables…
Q: BYOB is a monopolist in beer production and distribution in the imaginary economy of Hopsville.…
A: Profit will be maximized at the level of output where Marginal Revenue = Marginal Cost In the given…
Q: Consider the SNAP food stamp program, where the government effectively gives recipients cash that…
A: Understand SNAP program The SNAP program focuses on promoting good nutrition and overall well-being…
Q: An investor has $749,000 to invest in bonds. Bond A yields an average of 3% and the bond B yields…
A: Given data is Available money to invest = $749000 Yield by bond A = 3% Yield by bond B = 8%
Q: A person starting in Columbus must visit Great Falls, Odessa, and Brownsville, and then return home…
A: Given, Columbus Great Falls Odessa Brownsville Columbus --- 102 79 56…
Q: (a) What combination of Maxivite and Healthovite pills will meet the walrus's requirement at lowest…
A: THE ANSWER IS AS BELOW:
Q: Suppose you use Solver to find the optimal solution to a maximization model. Then you remember that…
A: When a constraint is added to a maximization problem there are two possible outcomes. The original…
Q: An Electrical Utility Startup Problem A problem faced by an electrical utility company each day is…
A: Let us consider the variables A, B, C,D & E represent the Generators A,B,C,D & E. Now, let…
Q: Vladimir Ulanowsky is playing Keith Smithson in atwo-game chess match. Winning a game scores 1 match…
A:
Q: Consider a firm in a competitive market with market price p. Which of the following statements are…
A: Different types of market structures can be classified on the basis of number of buyers and sellers…
Q: Two companies are producing widgets. It costs the first company q12 dollars to produce q1 widgets…
A: Given: First company Second company q12 dollars 0.5q22 dollars
Q: A retail chain has 8 stores in a region supplied from 4 supply sources. Trucks have a capacity of…
A: Assumptions: All trucks travel full.Batch size shipped from each supplier to each store = 40,000…
Q: Leach Distributors packages and distributes industrial supplies. A standard shipment can be packaged…
A: The detailed solution is given in Steps ahead.
Q: X1: dollars invested in savings certificatėš X2: dollars invested in municipal bonds X3: dollars…
A: The answer is as below:
Q: A firm is planning to spend $75,000 on advertising. It costs $3000 per minute to advertise on…
A:
Q: Select all of the true statements: When we successfully find a solution to a linear programming…
A: Note - We are authorized to answer one question at a time, since you have not mentioned which…
Q: If the profit generated per cabinet is P80 and per dresser is P100, write the objecti that best…
A: Linear programming is a process to reach the best outcome such as maximum profit or lowest cost in a…
Q: A company manufactures two products. If it charges price pi for product i, it can sell qi units of…
A: Non-linear programming (NLP) is used in complex optimization problems where the objectives or…
Q: An ad campaign for a new snack chip will be conducted in a limited geographical area and can use TV…
A: Use the minimization function in order to calculate the least total cost.
Q: A sales representative lives in Bloomington and must bein Indianapolis next Thursday. On each of the…
A: Given data Indianapolis Bloomington Chicago Indianapolis - 5 2 Bloomington 5 - 7…
Q: In the optimal solution to the Great Threads model, no pants are produced. Suppose Great Threads has…
A: The altered Great Threads model is given underneath- Alter the Great Threads model so 300 sets of…
Q: Dataware is trying to determine whether to give a $10 rebate, cut the price $6, or have no price…
A: Consider creating a $10 rebate for a $45 product. Alternatives to a rebate would be to reduce the…
Q: The purchased and installation costs of some pieces of equipment are given as a function of weight…
A:
Q: Referring to Exhibit 1, what is the optimal objective function value for this problem? 500 300 800 O…
A: Linear programming model is used to obtain maximum profits, by utilizing minimum resources…
Q: H1 = amount of heavy crude used for Gas 1 (in barrels) H2 = amount of heavy crude used for Gas 2 (in…
A:
Q: Answer the following true or false.a. The lead time is always less than the cycle time.b. The…
A: Note:- We are authorized to answer one question at a time, since you have not mentioned which…
Q: ABC Co. produces a product in the United Kingdom at a cost of £0.55 per unit which it then sells in…
A: Cost of Product =£0.55 per unit Selling Price= €1.25 per unit.
Q: Stock in Company A sells for $89 a share and has a 3-year average annual return of $24 a share. The…
A: Let; a be the number of shares in company A b be the number of shares in company B
Q: a. Formulate a linear programming model that can be used to determine the number of gallons of…
A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…
Q: Your corporation has just approved an 8-year expansion plan to grow its market share. The plan…
A: Excel solver formula: Use the following solver parameters. Solution:
Producers of a certain brand of refrigerator will make 4000 refrigerators available when the unit price is $340. At a unit price of $380, 8000 refrigerators will be marketed. Find the equation relating the unit price p of a refrigerator to the quantity supplied x if the equation is known to be linear.
p =
How many refrigerators will be marketed when the unit price is $420?
refrigerators
What is the lowest price at which a refrigerator will be marketed?
$
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
- You now have 10,000, all of which is invested in a sports team. Each year there is a 60% chance that the value of the team will increase by 60% and a 40% chance that the value of the team will decrease by 60%. Estimate the mean and median value of your investment after 50 years. Explain the large difference between the estimated mean and median.The IRR is the discount rate r that makes a project have an NPV of 0. You can find IRR in Excel with the built-in IRR function, using the syntax =IRR(range of cash flows). However, it can be tricky. In fact, if the IRR is not near 10%, this function might not find an answer, and you would get an error message. Then you must try the syntax =IRR(range of cash flows, guess), where guess" is your best guess for the IRR. It is best to try a range of guesses (say, 90% to 100%). Find the IRR of the project described in Problem 34. 34. Consider a project with the following cash flows: year 1, 400; year 2, 200; year 3, 600; year 4, 900; year 5, 1000; year 6, 250; year 7, 230. Assume a discount rate of 15% per year. a. Find the projects NPV if cash flows occur at the ends of the respective years. b. Find the projects NPV if cash flows occur at the beginnings of the respective years. c. Find the projects NPV if cash flows occur at the middles of the respective years.Assume that all of a companys job applicants must take a test, and that the scores on this test are normally distributed. The selection ratio is the cutoff point used by the company in its hiring process. For example, a selection ratio of 25% means that the company will accept applicants for jobs who rank in the top 25% of all applicants. If the company chooses a selection ratio of 25%, the average test score of those selected will be 1.27 standard deviations above average. Use simulation to verify this fact, proceeding as follows. a. Show that if the company wants to accept only the top 25% of all applicants, it should accept applicants whose test scores are at least 0.674 standard deviation above average. (No simulation is required here. Just use the appropriate Excel normal function.) b. Now generate 1000 test scores from a normal distribution with mean 0 and standard deviation 1. The average test score of those selected is the average of the scores that are at least 0.674. To determine this, use Excels DAVERAGE function. To do so, put the heading Score in cell A3, generate the 1000 test scores in the range A4:A1003, and name the range A3:A1003 Data. In cells C3 and C4, enter the labels Score and 0.674. (The range C3:C4 is called the criterion range.) Then calculate the average of all applicants who will be hired by entering the formula =DAVERAGE(Data, "Score", C3:C4) in any cell. This average should be close to the theoretical average, 1.27. This formula works as follows. Excel finds all observations in the Data range that satisfy the criterion described in the range C3:C4 (Score0.674). Then it averages the values in the Score column (the second argument of DAVERAGE) corresponding to these entries. See online help for more about Excels database D functions. c. What information would the company need to determine an optimal selection ratio? How could it determine the optimal selection ratio?
- Six months before its annual convention, the American Medical Association must determine how many rooms to reserve. At this time, the AMA can reserve rooms at a cost of 150 per room. The AMA believes the number of doctors attending the convention will be normally distributed with a mean of 5000 and a standard deviation of 1000. If the number of people attending the convention exceeds the number of rooms reserved, extra rooms must be reserved at a cost of 250 per room. a. Use simulation with @RISK to determine the number of rooms that should be reserved to minimize the expected cost to the AMA. Try possible values from 4100 to 4900 in increments of 100. b. Redo part a for the case where the number attending has a triangular distribution with minimum value 2000, maximum value 7000, and most likely value 5000. Does this change the substantive results from part a?In the financial world, there are many types of complex instruments called derivatives that derive their value from the value of an underlying asset. Consider the following simple derivative. A stocks current price is 80 per share. You purchase a derivative whose value to you becomes known a month from now. Specifically, let P be the price of the stock in a month. If P is between 75 and 85, the derivative is worth nothing to you. If P is less than 75, the derivative results in a loss of 100(75-P) dollars to you. (The factor of 100 is because many derivatives involve 100 shares.) If P is greater than 85, the derivative results in a gain of 100(P-85) dollars to you. Assume that the distribution of the change in the stock price from now to a month from now is normally distributed with mean 1 and standard deviation 8. Let EMV be the expected gain/loss from this derivative. It is a weighted average of all the possible losses and gains, weighted by their likelihoods. (Of course, any loss should be expressed as a negative number. For example, a loss of 1500 should be expressed as -1500.) Unfortunately, this is a difficult probability calculation, but EMV can be estimated by an @RISK simulation. Perform this simulation with at least 1000 iterations. What is your best estimate of EMV?A martingale betting strategy works as follows. You begin with a certain amount of money and repeatedly play a game in which you have a 40% chance of winning any bet. In the first game, you bet 1. From then on, every time you win a bet, you bet 1 the next time. Each time you lose, you double your previous bet. Currently you have 63. Assuming you have unlimited credit, so that you can bet more money than you have, use simulation to estimate the profit or loss you will have after playing the game 50 times.
- A company manufacturers a product in the United States and sells it in England. The unit cost of manufacturing is 50. The current exchange rate (dollars per pound) is 1.221. The demand function, which indicates how many units the company can sell in England as a function of price (in pounds) is of the power type, with constant 27556759 and exponent 2.4. a. Develop a model for the companys profit (in dollars) as a function of the price it charges (in pounds). Then use a data table to find the profit-maximizing price to the nearest pound. b. If the exchange rate varies from its current value, does the profit-maximizing price increase or decrease? Does the maximum profit increase or decrease?Your answer is partially correct. An independent contractor for a transportation company needs to determine whether she should upgrade the vehicle she currently owns or trade her vehicle in to lease a new vehicle. If she keeps her vehicle, she will need to invest in immediate upgrades that cost $5,200 and it will cost $1,300 per year to operate at the end of year that follows. She will keep the vehicle for 5 years; at the end of this period, the upgraded vehicle will have a salvage value of $3,800. Alternatively, she could trade in her vehicle to lease a new vehicle. She estimates that her current vehicle has a trade-in value of $9,800 and that there will be $4,100 due at lease signing. She further estimates that it will cost $2,900 per year to lease and operate the vehicle. The independent contractor's MARR is 11%. Compute the EUAC of both the upgrade and lease alternatives using the insider perspective. Click here to access the TVM Factor Table Calculator. 1943.56 EUAC(keep): $…Barbara Flynn sells papers at a newspaper stand for $0.40. The papers cost her $0.30, giving her a $0.10 profit on each one she sells. From past experience Barbara knows that: a) 20% of the time she sells 150 papers. b) 20% of the time she sells 200 papers. c) 30% of the time she sells 250 papers. d) 30% of the time she sells 300 papers. Assuming that Barbara believes the cost of a lost sale to be $0.05 and any unsold papers cost her $0.30 and she orders 250 papers. Use the following random numbers: 14, 4, 13, 9, and 25 for simulating Barbara's profit. (Note: Assume the random number interval begins at 01 and ends at 00.) Based on the given probability distribution and the order size, for the given random number Barbara's sales and profit are (enter your responses for sales as integers and round all profit responses to two decimal places): Random Number Sales Profit 14 4 13 9 25
- In Des Moines, Iowa, 17 stores specializing in selling the same quality and brand of wheat products are located on one street. A store cannot charge more than the going-rate price without the risk of losing business to the other competitors. What type of market is this?3. Gursoy is selling Christmas trees. She purchases trees for $10 and sells for $25 each. The number of trees she can sell is normally distributed with a mean of 100 and standard deviation of 30. How many trees should Gursoy purchase?Topgun Records and several movie studios have decided to sign a revenue-sharing contract for CDs. Each CD costs the studio $2 to produce. The CD will be sold to Topgun for $3. Topgun, in turn, prices a CD at $15 and forecasts demand to be normally distributed, with a mean of 5,000 and a standard deviation of 2,000. Any unsold CDs are discounted to $1, and all sell at this price. Topgun will share 35 percent of the revenue with the studio, keeping 65 percent for itself. How many CDs should Topgun order? How many CDs does Topgun expect to sell at a discount? What is the profit that Topgun expects to make? What is the profit that the studio expects to make? Repeat parts (a)–(d) if the studio sells the CD for $2 (instead of $3) but gets 43 percent of revenue.