of the island to help alleviate traffic congestion and to provide users with a safer road network. The government of Grenada has approached two (2) contractors for an estimate. They are required to submit a proposal that details the cost combination of labour (L), machinery (M), and technology (T) in achieving their expected total cost, total profit, and total revenue. Contractor 1 Two labour, four machinery, and three technology will result in a total cost of thirty-three dollars. While one labour, two machinery, and one technology give a total profit of fifteen dollars. Lastly, ten labour, five machinery, and six technologies result in total revenue of eighty-three dollars. Contractor 2 No Proposal was submitted. a) From Contractor 1's proposal, derive three (3) simultaneous equations. b) From the answer to part a) above, set these equations in matrix form c) Given that the government of Grenada only received one proposal, should the contract be awarded to Contractor 1? Give reason(s) for your answer. d) Give three (3) reasons why you believe Contractor 2 never submitted a proposal?

What is Jenny’s contribution margin per haircut? Jenny’s Cutting Station offers a new concept in haircuts; low cost and very quick. Set in a local mall, Jenny’s offers 15-minute haircuts for harried shoppers who do not have time for lengthy appointments. To ensure that the clients are in and out quickly, she schedules her 5 employees based on expected client traffic. Each of the employees is paid $1200 per month, with part of their pay coming from client tips. Jenny pays rent and overhead costs of $2000 per month on the facility. Because of the quick nature of the service, Jenny doesn’t have time to clean combs in between clients, so she uses a new comb for each customer, at a cost of $0.55 each. She also provides shampoo and conditioner for each client at a cost of $0.95 per client. The average price for a haircut is $12. Jenny pays herself $5000 per month.

32. A hardware company sells a lot of low-cost, highvolume products. For one such product, it is equallylikely that annual unit sales will be low or high. Ifsales are low (30,000), the company can sell theproduct for $20 per unit. If sales are high (70,000),a competitor will enter and the company will be ableto sell the product for only $15 per unit. The variablecost per unit has a 20% chance of being $10, a 60%chance of being $11, and a 20% chance of being $12.Annual fixed costs are $20,000.a. Use simulation to estimate the company’s expectedannual profit.b. Find a 95% interval for the company’s annualprofit, that is, an interval such that about 95% ofthe actual profits are inside it.c. Now suppose that annual unit sales, variable cost,and unit price are equal to their respective expectedvalues—that is, there is no uncertainty. Determinethe company’s annual profit for this scenario.d. Can you conclude from the results in parts a and cthat the expected profit from a simulation is…