Companies in the U.S. car rental market vary greatly in terms of the size of the fleet, the number of locations, and annual revenue. In 2011, Hertz had 320,000 cars in service and annual revenue of approximately $4.2 billion. Suppose the following data show the number of cars in service (1,000s) and the annual revenue ($ millions) for six smaller car rental companies. Company Cars(1,000s) Revenue($ millions) Company A 11.5 116 Company B 10.0 133 Company C 9.0 98 Company D 5.5 37 Company E 4.2 40 Company F 3.3 32   a.Use the least squares method to develop the estimated regression equation that can be used to predict annual revenue (in $ millions) given the number of cars in service (in 1,000s). (Round your numerical values to three decimal places.) b. For every additional car placed in service, estimate how much annual revenue will change (in dollars). (Round your answer to the nearest integer.) Annual revenue will increase by $ , for every additional car placed in…

Companies in the U.S. car rental market vary greatly in terms of the size of the fleet, the number of locations, and annual revenue. In 2011, Hertz had 320,000 cars in service and annual revenue of approximately $4.2 billion. Suppose the following data show the number of cars in service (1,000s) and the annual revenue ($ millions) for six smaller car rental companies. Company Cars(1,000s) Revenue($ millions) Company A 11.5 118 Company B 10.0 137 Company C 9.0 102 Company D 5.5 39 Company E 4.2 40 Company F 3.3 32 (a) Develop a scatter diagram with the number of cars in service as the independent variable. A scatter diagram has 6 points plotted on it. The horizontal axis ranges from 0 to 14 and is labeled: Cars in Service (1,000s). The vertical axis ranges from 0 to 160 and is labeled: Annual Revenue ($ millions). The points are plotted from left to right in an upward, diagonal direction starting from the lower left corner of the diagram and are between 3 to 12 on…

Companies in the U.S. car rental market vary greatly in terms of the size of the fleet, the number of locations, and annual revenue. In 2011, Hertz had 320,000 cars in service and annual revenue of approximately $4.2 billion. Suppose the following data show the number of cars in service (1,000s) and the annual revenue ($ millions) for six smaller car rental companies. Company Cars(1,000s) Revenue($ millions) Company A 11.5 118 Company B 10.0 133 Company C 9.0 98 Company D 5.5 37 Company E 4.2 40 Company F 3.3 30 (a) Develop a scatter diagram with the number of cars in service as the independent variable. A scatter diagram has 6 points plotted on it. The horizontal axis ranges from 0 to 14 and is labeled: Cars in Service (1,000s). The vertical axis ranges from 0 to 160 and is labeled: Annual Revenue ($ millions). The points are plotted from left to right in an upward, diagonal direction starting from the lower left corner of the diagram and are between 3 to 12 on…

.    In 2010, of a total of 67,000 rooms on the Las Vegas Strip, Caesars Entertainment managed 22,880, while MGM Resorts managed over 12,000. However, owing to the Great Recession and new hotel openings, between 2008 and 2010, MGM's hotel occupancy decreased from 92% to 89%, while its average daily room rate fell from $148 to $108. Meanwhile, CityCenter, managed by MGM Resorts, and the Cosmopolitan opened with 4,000 and 3,000 rooms respectively, and the 1,720-room Sahara closed.  (Sources: Caesars Entertainment Corp., Annual Report 2010; MGM Resorts, Annual Report 2010; "Sahara's closure on May 16 will mark `the end of an era'," Las Vegas Sun, March 11, 2011.) (a) Using a suitable figure, explain how the opening of CityCenter and the Cosmopolitan affects the residual demand for an existing hotel and how it should adjust prices. (b) If MGM Resorts had not reduced its room rates, what would have been the effect on occupancy? (c) Use the Cournot model to explain…

I need typed work. Not handwritten. A bank has two types of branches. A satellite branch employs 3 people, requires P2,500,000 to construct and open, and generates an average daily revenue of P4,000,000. A full-service branch employs 6 people, requires P5,500,000 to construct and open, and generates an average daily revenue of P7,000,000. The bank has up to P80,000,000 available to open new branches, and has decided to limit the new branches to a maximum of 20 and to hire at most 120 employees. How many branches of each type should the bank open in order to maximize the average daily revenue?   REQUIREMENTS: 1. Formulate the LP Model; 2. Identify the decision variables used in the model; and 3. Determine the optimal solution.

Every day, secret, over-worked employees at Wayne Enterprises work two 6-hour shifts producing Batmobiles. These shifts are selected from 12 am - 6 am, 6 am - 12 pm, 12 pm - 6 pm, and 6 pm - 12 am. The following table depicts the number of employees needed during each shift: Shift Time Period 1 2 3 4 12 am - 6 am 6 am - 12 pm 12 pm - 6 pm 6 pm - 12 am Number of Employees Required 13 21 17 11 Bruce Wayne pays all employees working two consecutive shifts, $12 per hour (Note: employees scheduled to work 12 am - 6 am and 6 pm - 12 am would be considered consecutive). Employees whose shifts are not consecutive are paid $18 per hour for the inconvenience. Formulate an LP that can be used to minimize the cost of meeting the daily workforce demands for Batmobile production. To formulate the model, use the following decision variables: Xij = workers working shifts i and j where i, j = {1, 2, 3, 4}

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A local market research firm has just won a contract for several thousand small projects involving data gathering and statistical analysis. In the past, the firm has assigned each project to a single member of its highly trained professional staff. This person would both gather and analyze the data. Using this approach, an experienced person can complete an average of 10 such projects in an eight-hour day. The firm’s management is thinking of assigning two people to each project in order to allow them to specialize and become more efficient. The process would require the data gatherer to fill out a matrix on the computer, check it, and transmit it to the statisticalanalysis program for the analyst to complete. Data can be gathered on one project while the analysis is being completed on another, but the analysis must be complete before the statistical analysis program can accept the new data. After some practice, the new process can be completed with a standard time of 20 minutes for…

Companies in the U.S. car rental market vary greatly in terms of the size of the fleet, the number of locations, and annual revenue. In 2011, Hertz had 320,000 cars in service and annual revenue of approximately $4.2 billion. Suppose the following data show the number of cars in service (1,000s) and the annual revenue ($ millions) for six smaller car rental companies. Cars Revenue Company (1,000s) ($ millions) Company A 11.5 120 Company B 10.0 133 Company C 9.0 102 Company D 5.5 37 Company E 4.2 42 Company F 3.3 34 (a) Develop a scatter diagram with the number of cars in service as the independent variable. 160T 160T 160 160- 140- 140 140 140 120 120 120 120- 100 100 100 100- 80 80 80 80 60 60 60 60 .. . 40 40 .. 40 40 20 20 20 20 4 6 8 10 12 14 2 4 8 10 12 14 2 4 6 8 10 12 14 2 4 6 8 10 12 14 Cars in Service (1,000s) Cars in Service (1,000s) Cars in Service (1,000s) Cars in Service (1,000s) (b) What does the scatter diagram developed in part (a) indicate about the relationship between…