Finite Mathematics and Applied Calculus (MindTap Course List)
7th Edition
ISBN: 9781337274203
Author: Stefan Waner, Steven Costenoble
Publisher: Cengage Learning
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Chapter 5.4, Problem 29E
In Exercises 25–32, set up the payoff matrix.
Marketing Your fast-food outlet, Burger Queen, has obtained a license to open branches in three closely situated South African cities: Brakpan, Nigel, and Springs. Your market surveys show that Brakpan and Nigel each provide a potential market of 2,000 burgers a day, while Springs provides a potential market of 1,000 burgers per day. Your company can finance an outlet in only one of those cities. Your main competitor, Burger Princess, has also obtained licenses for these cities and is similarly planning to open only one outlet. If you both happen to locate at the same city, you will share the total business from all three cities equally, but if you locate in different cities, you will each get all the business in the city in which you have located plus half the business in the third city. The payoff is the number of burgers you will sell per day minus the number of burgers your competitor will sell per day.
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(a) Define the variables. Be specific with descriptive words.
x₁ =
x₂ =
x3 =
(b) Clearly state the constraints (all inequalities) related to the feasible region.
(c) State the objective function.
7
Your broker has suggested that you diversify your investments by splitting your portfolio among mutual funds, municipal bond funds, stocks, and precious metals. She suggests five good mutual funds, four municipal bond funds, eight stocks, and three precious metals (gold, silver, and platinum).
1. Assuming your portfolio is to contain one of each type of investment, how many different portfolios are possible?
=
Consider an economy with three sectors, Chemicals & Metals, Fuels & Power, and Machinery. Chemicals sells 30% of its output to Fuels
and 50% to Machinery and retains the rest. Fuels sells 80% of its output to Chemicals and 10% to Machinery and retains the rest.
Machinery sells 40% of its output to Chemicals and 30% to Fuels and retains the rest. Complete parts (a) through (c) below.
a. Construct the exchange table for this economy.
Distribution of Output from:
Chemicals
Fuels
0.2
0.8
0.3
0.1
0.5
0.1
(Type integers or decimals.)
Machinery
0.4
0.3
0.3
Purchased by:
Chemicals
Fuels
Machinery
b. Develop a system of equations that leads to prices at which each sector's income matches its expenses. Then write the augmented
matrix that can be row reduced to find these prices. The first, second, and third columns of the matrix should correspond to Chemicals,
Fuels, and Machinery, respectively.
wrong
0.2 0.8 0.4 0
The augmented matrix is 0.3 0.1 0.3 0
0.5 0.1 0.3 0
(Type an integer or decimal…
Chapter 5 Solutions
Finite Mathematics and Applied Calculus (MindTap Course List)
Ch. 5.1 - In Exercises 110, find the dimensions of the given...Ch. 5.1 - Prob. 2ECh. 5.1 - Prob. 3ECh. 5.1 - Prob. 4ECh. 5.1 - Prob. 5ECh. 5.1 - In Exercises 110, find the dimensions of the given...Ch. 5.1 - Prob. 7ECh. 5.1 - Prob. 8ECh. 5.1 - Prob. 9ECh. 5.1 - Prob. 10E
Ch. 5.1 - Solve for x,y,z,andw. [HINT: See Example 1.]...Ch. 5.1 - Prob. 12ECh. 5.1 - Prob. 13ECh. 5.1 - Prob. 14ECh. 5.1 - Prob. 15ECh. 5.1 - In Exercises 1320, evaluate the given expression....Ch. 5.1 - Prob. 17ECh. 5.1 - Prob. 18ECh. 5.1 - Prob. 19ECh. 5.1 - Prob. 20ECh. 5.1 - Prob. 21ECh. 5.1 - Prob. 22ECh. 5.1 - In Exercises 2128, evaluate the given expression....Ch. 5.1 - Prob. 24ECh. 5.1 - Prob. 25ECh. 5.1 - In Exercises 2128, evaluate the given expression....Ch. 5.1 - Prob. 27ECh. 5.1 - Prob. 28ECh. 5.1 - In Exercises 2936, use technology to evaluate the...Ch. 5.1 - Prob. 30ECh. 5.1 - Prob. 31ECh. 5.1 - Prob. 32ECh. 5.1 - Prob. 33ECh. 5.1 - Prob. 34ECh. 5.1 - Prob. 35ECh. 5.1 - Prob. 36ECh. 5.1 - Sales The following table shows the number of Mac...Ch. 5.1 - Home Prices The following table shows median home...Ch. 5.1 - Inventory The Left Coast Bookstore chain has two...Ch. 5.1 - Inventory The Left Coast Bookstore chain discussed...Ch. 5.1 - Prob. 41ECh. 5.1 - Revenue The following spreadsheet gives annual...Ch. 5.1 - Prob. 43ECh. 5.1 - Population Movement In 1990 the U.S. population,...Ch. 5.1 - Prob. 45ECh. 5.1 - Prob. 46ECh. 5.1 - Prob. 47ECh. 5.1 - Prob. 48ECh. 5.1 - Prob. 49ECh. 5.1 - Inventory Microbucks Computer Company, besides...Ch. 5.1 - Tourism in the 1990s The following table gives the...Ch. 5.1 - Prob. 52ECh. 5.1 - Prob. 53ECh. 5.1 - Prob. 54ECh. 5.1 - Prob. 55ECh. 5.1 - Prob. 56ECh. 5.1 - Prob. 57ECh. 5.1 - Prob. 58ECh. 5.1 - Prob. 59ECh. 5.1 - Prob. 60ECh. 5.1 - Prob. 61ECh. 5.1 - Prob. 62ECh. 5.1 - Prob. 63ECh. 5.1 - Prob. 64ECh. 5.1 - Prob. 65ECh. 5.1 - Prob. 66ECh. 5.2 - Prob. 1ECh. 5.2 - Prob. 2ECh. 5.2 - Prob. 3ECh. 5.2 - Prob. 4ECh. 5.2 - Prob. 5ECh. 5.2 - Prob. 6ECh. 5.2 - Prob. 7ECh. 5.2 - Prob. 8ECh. 5.2 - Prob. 9ECh. 5.2 - Prob. 10ECh. 5.2 - Prob. 11ECh. 5.2 - Prob. 12ECh. 5.2 - Prob. 13ECh. 5.2 - Prob. 14ECh. 5.2 - Prob. 15ECh. 5.2 - Prob. 16ECh. 5.2 - Prob. 17ECh. 5.2 - Prob. 18ECh. 5.2 - Prob. 19ECh. 5.2 - Prob. 20ECh. 5.2 - Prob. 21ECh. 5.2 - Prob. 22ECh. 5.2 - Prob. 23ECh. 5.2 - Prob. 24ECh. 5.2 - Prob. 25ECh. 5.2 - Prob. 26ECh. 5.2 - Prob. 27ECh. 5.2 - Prob. 28ECh. 5.2 - Prob. 29ECh. 5.2 - Prob. 30ECh. 5.2 - Exercises 3138 should be done in two ways: by hand...Ch. 5.2 - Prob. 32ECh. 5.2 - Prob. 33ECh. 5.2 - Prob. 34ECh. 5.2 - Prob. 35ECh. 5.2 - Exercises 3138 should be done in two ways: by hand...Ch. 5.2 - Prob. 37ECh. 5.2 - Prob. 38ECh. 5.2 - Prob. 39ECh. 5.2 - Prob. 40ECh. 5.2 - Prob. 41ECh. 5.2 - Prob. 42ECh. 5.2 - Prob. 43ECh. 5.2 - Prob. 44ECh. 5.2 - Prob. 45ECh. 5.2 - Prob. 46ECh. 5.2 - Prob. 47ECh. 5.2 - In Exercises 4548, translate the given matrix...Ch. 5.2 - Prob. 49ECh. 5.2 - Prob. 50ECh. 5.2 - Prob. 51ECh. 5.2 - Prob. 52ECh. 5.2 - Prob. 53ECh. 5.2 - Revenue Karen Sandberg, your competitor in...Ch. 5.2 - Prob. 55ECh. 5.2 - Prob. 56ECh. 5.2 - Revenue Recall the Left Coast Bookstore chain from...Ch. 5.2 - Prob. 58ECh. 5.2 - Prob. 59ECh. 5.2 - Income Exercises 5962 are based on the following...Ch. 5.2 - Income Exercises 5962 are based on the following...Ch. 5.2 - Prob. 62ECh. 5.2 - Prob. 63ECh. 5.2 - Prob. 64ECh. 5.2 - Foreclosure Crisis Starting in 2010, on the heels...Ch. 5.2 - Prob. 66ECh. 5.2 - Prob. 67ECh. 5.2 - Prob. 68ECh. 5.2 - Foreclosure Crisis Starting in 2010, on the heels...Ch. 5.2 - Foreclosure Crisis Starting in 2010, on the heels...Ch. 5.2 - Prob. 71ECh. 5.2 - Prob. 72ECh. 5.2 - Tourism in the 1990s The following table gives the...Ch. 5.2 - Tourism in the 1990s Referring to the tourism...Ch. 5.2 - Prob. 75ECh. 5.2 - Prob. 76ECh. 5.2 - Give an example of two matrices A and B such that...Ch. 5.2 - Prob. 78ECh. 5.2 - Prob. 79ECh. 5.2 - Prob. 80ECh. 5.2 - Prob. 81ECh. 5.2 - Prob. 82ECh. 5.2 - Prob. 83ECh. 5.2 - Prob. 84ECh. 5.2 - Prob. 85ECh. 5.2 - Prob. 86ECh. 5.3 - In Exercises 16, determine whether or not the...Ch. 5.3 - Prob. 2ECh. 5.3 - Prob. 3ECh. 5.3 - Prob. 4ECh. 5.3 - Prob. 5ECh. 5.3 - Prob. 6ECh. 5.3 - In Exercises 726, use row reduction to find the...Ch. 5.3 - Prob. 8ECh. 5.3 - Prob. 9ECh. 5.3 - In Exercises 726, use row reduction to find the...Ch. 5.3 - Prob. 11ECh. 5.3 - Prob. 12ECh. 5.3 - Prob. 13ECh. 5.3 - Prob. 14ECh. 5.3 - Prob. 15ECh. 5.3 - Prob. 16ECh. 5.3 - Prob. 17ECh. 5.3 - Prob. 18ECh. 5.3 - Prob. 19ECh. 5.3 - Prob. 20ECh. 5.3 - Prob. 21ECh. 5.3 - Prob. 22ECh. 5.3 - Prob. 23ECh. 5.3 - Prob. 24ECh. 5.3 - Prob. 25ECh. 5.3 - Prob. 26ECh. 5.3 - Prob. 27ECh. 5.3 - Prob. 28ECh. 5.3 - Prob. 29ECh. 5.3 - Prob. 30ECh. 5.3 - Prob. 31ECh. 5.3 - Prob. 32ECh. 5.3 - In Exercises 2734, compute the determinant of the...Ch. 5.3 - Prob. 34ECh. 5.3 - Prob. 35ECh. 5.3 - Prob. 36ECh. 5.3 - Prob. 37ECh. 5.3 - Prob. 38ECh. 5.3 - Prob. 39ECh. 5.3 - In Exercises 3542, use technology to find the...Ch. 5.3 - Prob. 41ECh. 5.3 - Prob. 42ECh. 5.3 - Prob. 43ECh. 5.3 - Prob. 44ECh. 5.3 - Prob. 45ECh. 5.3 - Prob. 46ECh. 5.3 - In Exercises 4348, use matrix inversion to solve...Ch. 5.3 - Prob. 48ECh. 5.3 - Prob. 49ECh. 5.3 - Prob. 50ECh. 5.3 - Some of the following exercises are similar or...Ch. 5.3 - Prob. 52ECh. 5.3 - Some of the following exercises are similar or...Ch. 5.3 - Some of the following exercises are similar or...Ch. 5.3 - Investing: Inverse ETFs (Exchange Traded Funds)...Ch. 5.3 - Prob. 56ECh. 5.3 - Investing: Lesser-Known Stocks Exercises 5758 are...Ch. 5.3 - Prob. 58ECh. 5.3 - Population Movement In 2009 the population of the...Ch. 5.3 - Prob. 60ECh. 5.3 - Prob. 61ECh. 5.3 - Rotations If a point (x,y) in the plane is rotated...Ch. 5.3 - Encryption Matrices are commonly used to encrypt...Ch. 5.3 - Encryption Matrices are commonly used to encrypt...Ch. 5.3 - Prob. 65ECh. 5.3 - Prob. 66ECh. 5.3 - Multiple choice: If A and B are square matrices...Ch. 5.3 - Prob. 68ECh. 5.3 - What can you say about the inverse of a 22 matrix...Ch. 5.3 - Prob. 70ECh. 5.3 - Prob. 71ECh. 5.3 - Derive the formula in Exercise 71 using row...Ch. 5.3 - Prob. 73ECh. 5.3 - Prob. 74ECh. 5.3 - Prob. 75ECh. 5.3 - Solve the matrix equation A(B+CX)=D for X. (You...Ch. 5.3 - Prob. 77ECh. 5.3 - Prob. 78ECh. 5.4 - Prob. 1ECh. 5.4 - Prob. 2ECh. 5.4 - Prob. 3ECh. 5.4 - Prob. 4ECh. 5.4 - Prob. 5ECh. 5.4 - Prob. 6ECh. 5.4 - Prob. 7ECh. 5.4 - Prob. 8ECh. 5.4 - Prob. 9ECh. 5.4 - In Exercises 914, reduce the given payoff matrix...Ch. 5.4 - In Exercises 914, reduce the given payoff matrix...Ch. 5.4 - In Exercises 914, reduce the given payoff matrix...Ch. 5.4 - Prob. 13ECh. 5.4 - Prob. 14ECh. 5.4 - Prob. 15ECh. 5.4 - Prob. 16ECh. 5.4 - Prob. 17ECh. 5.4 - Prob. 18ECh. 5.4 - Prob. 19ECh. 5.4 - Prob. 20ECh. 5.4 - Prob. 21ECh. 5.4 - Prob. 22ECh. 5.4 - Prob. 23ECh. 5.4 - Prob. 24ECh. 5.4 - Prob. 25ECh. 5.4 - Prob. 26ECh. 5.4 - Prob. 27ECh. 5.4 - Prob. 28ECh. 5.4 - In Exercises 2532, set up the payoff matrix....Ch. 5.4 - In Exercises 2532, set up the payoff matrix....Ch. 5.4 - In Exercises 2532, set up the payoff matrix....Ch. 5.4 - Prob. 32ECh. 5.4 - Prob. 33ECh. 5.4 - More Retail Discount Wars Your Abercrom B mens...Ch. 5.4 - Factory Location22 A manufacturer of electrical...Ch. 5.4 - Crop Choice23 A farmer has a choice of growing...Ch. 5.4 - Study Techniques Your mathematics test is tomorrow...Ch. 5.4 - Prob. 38ECh. 5.4 - Prob. 39ECh. 5.4 - Prob. 40ECh. 5.4 - Prob. 41ECh. 5.4 - Prob. 42ECh. 5.4 - Prob. 43ECh. 5.4 - Prob. 44ECh. 5.4 - Prob. 45ECh. 5.4 - Prob. 46ECh. 5.4 - Prob. 47ECh. 5.4 - Prob. 48ECh. 5.4 - Campaign Strategies27 Florida and Ohio are swing...Ch. 5.4 - Prob. 50ECh. 5.4 - Prob. 51ECh. 5.4 - Prob. 52ECh. 5.4 - Prob. 53ECh. 5.4 - Prob. 54ECh. 5.4 - Prob. 55ECh. 5.4 - Exercises 37 and 38 seem to suggest that studying...Ch. 5.4 - Prob. 57ECh. 5.4 - Prob. 58ECh. 5.5 - Let A be the technology matrix A=[0.20.050.80.01],...Ch. 5.5 - Let A be the technology matrix...Ch. 5.5 - Prob. 3ECh. 5.5 - Prob. 4ECh. 5.5 - Prob. 5ECh. 5.5 - In Exercises 512, you are given a technology...Ch. 5.5 - In Exercises 512, you are given a technology...Ch. 5.5 - In Exercises 512, you are given a technology...Ch. 5.5 - In Exercises 512, you are given a technology...Ch. 5.5 - In Exercises 512, you are given a technology...Ch. 5.5 - In Exercises 512, you are given a technology...Ch. 5.5 - In Exercises 512, you are given a technology...Ch. 5.5 - Given A=[0.10.40.20.5], find the changes in...Ch. 5.5 - Prob. 14ECh. 5.5 - Prob. 15ECh. 5.5 - Prob. 16ECh. 5.5 - Prob. 17ECh. 5.5 - Prob. 18ECh. 5.5 - Campus Food The two campus cafeterias, the Main...Ch. 5.5 - Plagiarism Two student groups at Enormous State...Ch. 5.5 - Prob. 21ECh. 5.5 - Wood and Paper Two sectors of the U.S. economy are...Ch. 5.5 - Prob. 23ECh. 5.5 - Prob. 24ECh. 5.5 - Prob. 25ECh. 5.5 - Prob. 26ECh. 5.5 - Prob. 27ECh. 5.5 - Prob. 28ECh. 5.5 - Prob. 29ECh. 5.5 - Prob. 30ECh. 5.5 - Exercises 3134 require the use of technology....Ch. 5.5 - Exercises 3134 require the use of technology....Ch. 5.5 - Prob. 33ECh. 5.5 - Prob. 34ECh. 5.5 - Prob. 35ECh. 5.5 - Prob. 36ECh. 5.5 - What would it mean if the total output figure for...Ch. 5.5 - Prob. 38ECh. 5.5 - Prob. 39ECh. 5.5 - Prob. 40ECh. 5.5 - Prob. 41ECh. 5.5 - Prob. 42ECh. 5 - For Exercises 110, let...Ch. 5 - Prob. 2RECh. 5 - Prob. 3RECh. 5 - Prob. 4RECh. 5 - For Exercises 110, let...Ch. 5 - Prob. 6RECh. 5 - Prob. 7RECh. 5 - Prob. 8RECh. 5 - Prob. 9RECh. 5 - Prob. 10RECh. 5 - Prob. 11RECh. 5 - Prob. 12RECh. 5 - Prob. 13RECh. 5 - Prob. 14RECh. 5 - Prob. 15RECh. 5 - Prob. 16RECh. 5 - Prob. 17RECh. 5 - Prob. 18RECh. 5 - In Exercises 1720, write the given system of...Ch. 5 - Prob. 20RECh. 5 - Prob. 21RECh. 5 - Prob. 22RECh. 5 - Prob. 23RECh. 5 - Prob. 24RECh. 5 - In Exercises 2528, find the production vector X...Ch. 5 - Prob. 26RECh. 5 - Prob. 27RECh. 5 - Prob. 28RECh. 5 - Prob. 29RECh. 5 - Prob. 30RECh. 5 - Prob. 31RECh. 5 - Prob. 32RECh. 5 - It is now July 1, and online sales of romance,...Ch. 5 - Prob. 34RECh. 5 - Prob. 35RECh. 5 - Prob. 36RECh. 5 - Prob. 37RECh. 5 - Prob. 38RECh. 5 - OHaganBooks.com has two main...Ch. 5 - Prob. 40RECh. 5 - OHaganBooks.com has two main...Ch. 5 - Prob. 42RECh. 5 - Prob. 43RECh. 5 - Prob. 44RECh. 5 - Prob. 45RECh. 5 - Prob. 46RECh. 5 - Prob. 47RECh. 5 - Prob. 48RECh. 5 - Prob. 49RECh. 5 - Some of the books sold by OHaganBooks.com are...Ch. 5 - Some of the books sold by OHaganBooks.com are...Ch. 5 - Some of the books sold by OHaganBooks.com are...
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Calculus
ISBN:9781337552516
Author:Ron Larson, Bruce H. Edwards
Publisher:Cengage Learning
Finite Math: Markov Chain Example - The Gambler's Ruin; Author: Brandon Foltz;https://www.youtube.com/watch?v=afIhgiHVnj0;License: Standard YouTube License, CC-BY
Introduction: MARKOV PROCESS And MARKOV CHAINS // Short Lecture // Linear Algebra; Author: AfterMath;https://www.youtube.com/watch?v=qK-PUTuUSpw;License: Standard Youtube License
Stochastic process and Markov Chain Model | Transition Probability Matrix (TPM); Author: Dr. Harish Garg;https://www.youtube.com/watch?v=sb4jo4P4ZLI;License: Standard YouTube License, CC-BY