...MAT 540 (Quantitative Methods) Week 1 - 11 Entire Course - IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://acehomework.com/MAT-540-Quantitative-Methods-Week-1-11-Complete-Course-234323.htm If You Face Any Problem E- Mail Us At JohnMate1122@gmail.com WEEK 1 Quiz 1 Set 1(20 Questions and Answers) Quiz 1 Set 2 (20 Questions and Answers) Quiz 1 Set 3 (20 Questions and Answers) WEEK 2 Discussion Question 1: Decision Tree Discussion Question 2: The Science of Probability Quiz 2 Set 1 (20 Questions and Answers) Quiz 2 Set 2 (20 Questions and Answers) WEEK 3 Assignment 1, Jet Copier Case Problem Discussion Question 1: Pseudorandom Discussion Question 2: Statistical Analysis WEEK 4 Assignment 2, Internet Field Trip Presentation Discussion Question 1: Forecasting Discussion Question 2: Forecasting Models WEEK 5 Midterm Exam 1 (40 Questions and Answers) Midterm Exam 2 (40 Questions and Answers) Midterm Exam 3 (40 Questions and Answers) Midterm Exam 4 (40 Questions and Answers) WEEK 6 Discussion Question 1: The Linear programming Model Discussion Question 2: The LP Model Discussion Question 3: Graphical Method Discussion Question 4: Minimization model Quiz 3 Set 1 (20 Questions and Answers) Quiz 3 Set 2 (20 Questions and Answers) Quiz 3 Set 3 (20 Questions and Answers) WEEK 7 Assignment 3, Case Problem, Julia's Food Booth Discussion Question 1: Shadow Price Discussion Question 2:...
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...Stateline Shipping and Transport Company School of Business MAT 540 This paper was presented in submission for MAT 540 assignment four (Part 1 Only). Abstract This paper serves as a written response to the instructions and questions asked in assignment four. Assignment four instructed the writer to read the case problem Stateline Shipping and Transport Company from pages 273-274 in the text, Introduction to Management Science by Bernard W. Taylor. The assignment then directed the writer to Formulate and Solve and linear transportation programming model, this step was done in QM. The linear programming model is attached herein. Keywords: Linear Programming, Transportation, Shipping, Model Introduction This Case Problem, Stateline Shipping and Transport Company, is based on a girl named Rachel Sundusky who is a manager of the South-Atlantic office for Stateline Shipping and Transport (Taylor, 2010). Rachel is negotiating a contract with Polychem an industrial use chemical company (Taylor, 2010). Polychem has six sites that it would like for Stateline to pick up waste from (Taylor, 2010). Polychem would then like for Stateline to transport the waste for disposal to one of three sites (Taylor, 2010). Polychem has agreed to handle all of the waste at all sites therefore Stateline needs only transport the materials and incur costs for the same (Taylor, 2010). Rachel would like to see what the less costly shipping routes are (Taylor, 2010). Rachel will need all of the...
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...Julia’s Food Booth MAT 540 February 22, 2014 Julia’s Food Booth Case Problem (A) Formulate and solve an LP model. Variables: X1 = pizza slices, X2 = hot dogs, and X3 = barbeque sandwiches Maximize Z = ($0.75 X1) + ($1.05 X2) + ($1.35 X3) Subject to: $0.75x1+ $0.45x2 + $0.90x3 ≤ $1,500 24x1 + 16x2 +25x3 ≤ 55.296in of oven space X1 ≥ x2 + x3 (change to –x1 + x2 + x3 ≤ 0 for constraint) X2/x3 ≥ 0 Solution: X1 = 1250 pizza slices X2 = 1250 hot dogs X3 = 0 barbeque sandwiches Z = $2,250 (B) Evaluate the prospect of borrowing money before the first game. Yes, I do believe Julia would increase her profit if she borrowed money. The shadow price is $1.50 for each additional dollar she earns. The upper limit in the model that is given is $1,658.88. This means that Julia can borrow $158.88 from her friend, which gives her an extra profit of $238.32 or a total profit of $2,488.32. (C) Evaluate the prospect of paying a friend $100/game to assist. According to the information presented in (A) and (B), I do believe Julia should hire her friend for $100 per game. It would be difficult for Julia to prepare all of the food needed within the amount of time to reach her goal, so she will need the additional help. If she is borrowing extra money from another friend, she would be able to pay the help for the time spent helping at the game because the $158.88 she borrowed will allow her to do so. (D) Analyze the impact of uncertainties on the model. An impact of uncertainty...
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...MAT 540 Week 4 Discussions Please respond to the following: * Choose one of the forecasting methods and explain the rationale behind using it in real-life. Adjusted exponential smooth is the exponential smoothing forecast with a trend factor added to it. It can adjust with the trend factor (Beta) with a high beta reflecting changes more than a low beta. In real life example such as forecasting computer sales based on at least one year of sales data helps management. By using exponential smoother factor (alpha) we will react and adjust more slowly as the value reaches 0. As alpha gets higher we will have a more positive effect on demand and the forecast will be for an increase. The initial smoothing constant alpha and the trend factor beta are set by the manager with a value from 0 to 1. It is adjusted accordingly and a comparison of the results is use in the forecast. * Describe how a domestic fast food chain with plans for expanding into China would be able to use a forecasting model. When a fast food chain plans to expand into china the use of forecasting methods will greatly enhance the company’s chances of success. For instance, they include integrated information system and real time exchange of information with its suppliers. Demand can be based on information of its demand for locations with at least 12 months of sales data. A labor management system could also use forecasting methods. What is the difference between a causal model and a time- series model...
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...Case Study 1 The University Bookstore Student Computer Purchase Program Case Study Pamela Hurdle Dr. Vargha Azad Quantitative Methods MAT 540 December 11, 2009 Case Study 2 Table of Contents Title Page 1 Table of Contents 2 Abstract 3 Case Information 4 Case Study 5-9 Conclusion 10 Reference 11 Case Study 3 Abstract Case problem, “The University Bookstore Student Computer Purchase Program” will forecast the bookstore use of computer demand for the next fall semester. It will show the history of computer purchased and the projected demand for the upcoming semester. It will also show the effectiveness of staff and production. They are operating on a very small profit margin. Case Study 4 Case Study Case Problem: The University Bookstore Student Computer Purchase Program Bernard Taylor in this chapter gives us the understanding of how to use forecasting to predict the future of demand of business for our entities. Forecasting is the prediction of what will occur in the future. We can forecast any aspect of life. Mathematically and through management, we can forecast the guideline of decision making for our entities and everyday living. There are many different aspects of forecasting. Short range forecast envisages the near future. It usually...
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...Mat 540 Quantitative Methods Final Exam 2013 Question 1 5 out of 5 points Correct In an unbalanced transportation model, supply does not equal demand and one set of constraints uses ≤ signs. Answer Selected Answer: True Correct Answer: True Question 2 5 out of 5 points Correct In a transshipment problem, items may be transported from destination to destination and from source to source. Answer Selected Answer: True Correct Answer: True Question 3 0 out of 5 points Incorrect Adjusted exponential smoothing is an exponential smoothing forecast adjusted for seasonality. Answer Selected Answer: True Correct Answer: False Question 4 5 out of 5 points Correct A cycle is an up and down movement in demand that repeats itself in less than 1 year. Answer Selected Answer: False Correct Answer: False Question 5 5 out of 5 points Correct If we are solving a 0-1 integer programming problem, the constraint x1 = x2 is a conditional constraint. Answer Selected Answer: False Correct Answer: False Question 6 5 out of 5 points Correct Fractional relationships between variables are not permitted in the standard form of a linear program. Answer Selected Answer: True Correct Answer: True Question 7 5 out of 5 points Correct A business owner is trying to decide whether to buy, rent, or lease office space and has constructed the following payoff table based on whether business is brisk or slow. The...
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...Stateline Shipping and Transport Company Carla Coleman Strayer University MAT 540: Quantitative Method Dr. Luke Howard March 20, 2014 2014 Case Study: Stateline Shipping and Transport Company In this case study, we are introduced to Rachel Sundusky, the manager of the South-Atlantic office of the Stateline Shipping and Transport Company. The information we are given is that Rachel is in the process of negotiating a new contract to haul hazardous chemical waste from six (6) locations to three (3) waste disposal sites for Polychem, a manufacturer or chemicals for industry use. Rachel has estimated both the cost to transport one barrel from each location to each disposal site, as well as between each location. In estimating these costs, Rachel took into account that some towns and municipalities where the six plants are located restrict the transportation of hazardous material within municipal limits, so costs in some cases had to include traversing circutous routes. Rachel is given the number of barrels of waste each of the six plant locations will need picked up and how many barrels each of the waste disposal sights can accept. Given this information, and the esimated shipping costs she has developed, Rachel would like to determine which shipping routes will minimize Stateline’s total cost. She would like to consider the cost to move the waste directly from each plant location to a...
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...Bibliography III Taylor, B. W. (2011). Introduction to Management Science. Upper Saddle River: Prentice Hall. Assignment Week 3 Samuel Leonard Blake Introduction to Management Science MAT 540 Dr. Simona Barb April 28, 2013 (III Taylor, 2011) Assignment Week 3 Brief Description JET Copies was created to solve a problem of resource scarcity, James, Ernie, and Terri all students were having challenges trying to get their copies. They were traveling to another building outside of theirs and several students were using the same copier. James thought they could make a lot of money if they purchased a copier and charged students 0.10 cents a copy. So James, Ernie, and Terri borrowed $18,000.00 dollars from their parents and went into business. Simulation Estimate I took the example from page 647 in our text and used it as a template to create my model. I used the discrete distribution table shown on page 679 to gather my information that stipulated repair times in days with the corresponding probability. The probability distribution was located on page 679 as well and gave a 0 to 6 week timeframe between break downs. I used the continuous probability function in excel to show the values. To compute the loss of revenue over 1 year I calculated all values then divided them by the cumulative total divided by 52 weeks for an average annual cost of $ 58,231 dollars. Case Problem Question Should JET buy a backup copier for $ 8000...
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...overview presented by Margie Dominguez MAT 540 August 10, 2013 1 Slide Background Mix 3 4 5 6 7 8 9 10 2 Modeling Predictive Modeling Genius Forecasting Inventory Forecasting Simulations Modeling Decision Tree Conclusion Many companies and businesses use forecasting. Whether its to predict sales growth, consumer demand, profit or plan production, management wants to know how to proceed in making an informed decision about the future. This presentation will examine some of today’s most popular forecasting models by highlighting how leading companies are putting them to use. 3 Mix modeling – Marketing strategy Mix modeling can help with marketing strategies by measuring the potential value of all market input and marketing investments. The goal is a long-term revenue growth. Mix modeling’s multiple-regression technique is conducted based on the number of inputs and how these inputs relate to an outcome. The data that go into creating a marketing mix model includes: • Economic data • Industry data • Category data • Advertising data (including copy testing) Promotional data Competitive data Service data • Product data- Pricing data, Features & performance • Market outcome data- sales, revenue, profits Reference: http://www.decisionanalyst.com/Services/MarketingMixModeling.dai 4 Predictive Modeling for Consumer Demand forecast Predictive modeling is an effective forecasting model for consumer demand. The technique...
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...Quantitative Methods -MAT 540 JET Copies Case Problem Assignment #1 Days-to-repair Terri was able to gather data from the college which allowed them to develop a table for the probability distribution of the wait for repair services on JET’s copier. To model the probability of wait times in the JET Copies simulation, the JET partners generated a random number representing the probability of an occurrence of a breakdown. They then programmed a VLOOKUP function to match this breakdown probability to the corresponding “Repair Time in Days” column of the table. The result is the simulated time to get repair service for each breakdown occurrence. Interval between breakdowns The James, Ernie, and Terri purchased a copier just like the one used at their college office. When Ernie talked with someone in the dean’s office at State, he was told that the University’s copier broke down frequently often for 1 to 4 days. The partners became worried that their machine would also frequently break down. Although they could not get an exact probability distribution, James was able to determine that breakdowns occurred between 0 and 6 weeks apart. The probability of a breakdown increased as time passed. To model the time between breakdowns in their simulation, JET created a list of random numbers. Next, they applied the probability function f(x) = 2x/a2 0≤ x ≤ a. For this situation, the formula used is x = a √r. Since James estimated breakdowns occur zero to six weeks apart...
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...Week 8 Assignment 1 Keila Stinson Strayer University MAT 540 Dr. Negash Begashaw March 2, 2015 In the case study regarding Julia’s food booth a solution needs to be determined as to if investing in a booth to sell food during Tech football games is a sound investment. Julia is considering leasing a booth to sell food outside of Tech stadium at home football games to generate revenue in order to finance her final year at the school. After all of her expenses are paid Julia wants to bring in a profit of $ 1,000 per game. If she can accomplish this then she feels that it will be worth the money to invest in a booth. The fixed cost associated with leasing the booth would include $1,000 per game for booth rental and $600 to lease a warming oven for the six home football games. Julia’s has $1,500 available cash, which she will use to purchase and prepare the food for the first game. For the remaining home games she plans on using funds generated from the previous game to purchase her ingredients. In order to help Julia determine if she should lease a booth a linear programming model should be formulated and solved. The first step in setting up the model is to determine the variables. The variables for this case include: x1 =Pizza, x2 = Hotdogs, and x3= BBQ sandwiches. These variables are the three food choices Julia wishes to sell at her booth. Julia’s objective function in this case is to maximize profit (maximize Z). Julia’s objective function in this case equates...
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...JET Copies Case Problem Venetia Carter Professor Donald Ray West Quantitative Methods MAT 540 January 18, 2011 1. The number of days needed to repair the copier when it is out of service , according to the discrete distribution shown : Repair time (days) | Probability | Contribution to average repair time | 1 | 0.20 | 0.20 | 2 | 0.45 | 0.90 | 3 | 0.25 | 0.75 | 4 | 0.10 | 0.40 | Total (average days) | 1.00 | 2.25 | 2. Number of weeks between breakdowns simplified # of weeks | Cumulative chance of breakdowns | Simplified | 0 | 0* 0/18 *1/2 | 0 | 1 | 1*1/18*1/2 | 1/36 | 2 | 2*2/18*1/2 | 4/36 | 3 | 3*3/18*1/2 | 9/36 | 4 | 4*4/18*1/2 | 16/36 | 5 | 5*5/18*1/2 | 25/36 | 6 | 6*6/18*1/2 | 36/36 | The chance of a breakdown within x weeks after a previous breakdown is x^2/36. To find the average value of x we set x^2/36=1/2 to get x =3 *sqrt (2) =4.243. This gives us 4.243 weeks between breakdowns. 3. Revenue lost per day the copier is out of service # of copies sold per day Price of each copy Revenue per day Low estimateHigh estimate | 20008000 | $0.10$0.10 | $200$800 | Average 5000 $0.10 $ 500 4. Lost revenue due to copier breakdowns over 1 year (average) Weeks per year | 52 | Weeks between breakdowns | 4.243 | Breakdowns per year | 12.255 | Days lost per breakdown...
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...Julia’s Food Booth NAME Strayer University MAT 540 LECTURER DATE Julia’s Food Booth Formulate and solve an L.P. model for this case. Julia Robertson is trying to advance her education and financing her education, to do so she started a food booth outside the Tech stadium selling Slices of cheese pizza, hot dogs, and barbecue sandwiches. This covers the items X1, X2, and X3 respectively. The costs of these items are $4.50, $0.50 and $1.00 respectively. As one knows the objective is to maximize Julia Robertson’s profit. The method of doing this is by evaluating subtracted costs from the selling price. Things to consider are constraints and the cost of everything involved. Being that cost always seems the most important this paper will start there. Profit on pizza slice = $1.50 - $0.75 = $ 0.75 Profit on hot dog = $1.50 – 0.45 = $1.05 Profit on sandwich = $2.25 - $0.90 = $1.35 The overall profit would be the following: Z=0.75 X1+ 1.05 X2 + 1.35 X3 Constraints: Budget Constraints would go as follows: 0.75X1 + 0.45X2 + 0.90X3 <=$1500 Space Constraints: Space available = 3 x 4 x 16 = 192 sq. feet = 192 x 12 x 12 =27648 sq. inches The oven will be refilled during half time. Thus total space available = 27648 x 2 = 55296 Space required for pizza = 14 x 14 = 196 sq. inches Space required for pizza slice = 196/ 8 = 24.5 sq. inches Total Oven Space required: 24.5 X1 + 16 X2 + 25 X3 Constraint: 24.5 X1 + 16 X2 + 25 X3 ≤ 55296 sq. Inches Another area to consider is the demand or potential...
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...Assignment #3: Case Problem “Julia’s Food Booth” La-Tia Jackson MAT 540 Dr. Albert Yin May 26, 2013 1. Formulate and solve an L.P. model for this case. There are three products or variables in this problem that we must consider for purchase. X1 = number of pizza slices Julia should purchase X2 = number of hotdogs Julia should purchase X3 = number of barbecue sandwiches Julia should purchase. Julia decided to have a food booth in order to make some money. Her goal is to maximize the profit that she can get from selling the hotdogs, pizza, and barbeque sandwiches that she plans on selling. The first thing to do is find the profit that Julia will make per Item. To find that per Item price, the cost of the item will be subtracted from the selling price. Pizza: Julia can buy a pizza that contains 8 slices for $6. That means each slice of pizza will cost her $0.75. She plans to sell each piece for 1.50. $1.50-$0.75= $0.75 profit Hot dog: $1.50 - $0.45 = $1.05 profit Barbecue Sandwiches: $2.25 - $0.90 = $1.35 profit The objective function can now be written since we have found the potential profit of each food item. The objective of this function is to maximize Z (profit). Z= $0.75x1 + $1.05x2 + $1.35X3 Budget is the one thing that has to be taken into consideration. Julia has $1,500 on hand to purchase and prepare food for the first home game. A constraint must be formed for the budget. Cost of each item and money available is what is known, so it is easy to form the...
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...Childhood Obesity: It’s a Family Issue Megan Ehrhart Statistical Concept for Research MAT 540 Professor Richard Smatt March 26, 2012 Introduction Parents are the first teachers in a child’s life. This runs true for teaching kids healthy eating habits as well. When parents themselves model good healthy eating habits along with teaching their children healthy habits the children grow up to be healthy adults. When parents are obese and engage their children in this unhealthy life style it is more likely that the children will grow obese and unhealthy and the cycle will continue with their children. Many children these days are allowed to have televisions in their bedrooms, play hours of video games, eat what and when they want and are not required to play outside or participate in extracurricular activities. The parents are doing the same things at home such as playing on the computer, watching television, cooking fast and unhealthy meals and not interacting in any physical activities with their children. All of these issues are factors in the weight gain of today’s youth and their parents. Parents need to take a bigger stand on healthy eating and exercise to prevent obesity. Obesity leads to many health problems and often early death which could be prevented in many cases. Statement of the Problem The Center for Disease Control and Prevention reports that obesity has more than tripled in the past thirty years (Center for Disease Control, para. 1). “ The...
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