Dr. Lillian Fok, a New Orleans psychologist, specializes in treating patients who are agoraphobic (i.e., afraid to leave their homes). Thefollowing table indicates how many patients Dr. Fok has seen each year for the past 10 years. It also indicates what the robbery rate wasin New Orleans during the same year:23YearNumber ofPatientsRobbery Rateper 1000Population12 [Select]1363358.3 61.1[Select]b. What is the MAD? [ [Select]4073.44e. What is the MAD? [ [Select]41540c. What is the correlation coefficient - r-value? [Select]as a function of time.655760f. What is the correlation Coefficient - r-value? [Select]a. Using trend (linear regression) analysis, predict the number of patients Dr. Fok will see in years 11 [Select]85475.7 81.1 89.0 101.1 94.8 103.3 116.2g. Based on the overall analysis, how well does each model fit the data?%d. Now based on regression analysis predict the number of patients that Dr. Fok will see in year 11 [Select]958do10based on the forecasted Robbery Rate - year 11 is 117.1 and year 12 is 120.8.%61[Select]>andand 12

a. Using trend (linear regression) analysis, predict the number of patients Dr. Fok will see in years 11 [Select] 12 [Select] b. What is the MAD? [Select] as a function of time. c. What is the correlation coefficient - r-value? [Select] % and

a. Using trend (linear regression) analysis, predict the number of patients Dr. Fok will see in years 11 [Select] 12 [Select] b. What is the MAD? [Select] as a function of time. c. What is the correlation coefficient - r-value? [Select] % and

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter7: Nonlinear Optimization Models

Section: Chapter Questions

Problem 49P: If a monopolist produces q units, she can charge 400 4q dollars per unit. The variable cost is 60...

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1. Suppose you are going on a weekend trip to a city that is d miles away. Develop a model that determines your round-trip gasoline costs. What assumptions or approximations are necessary to treat this model as a deterministic model? Are these assumptions or approximations acceptable to you? 2. Suppose that a manager has a choice between the following two mathematical models of a given situation: (a)a relatively simple model that is a reasonable approximation of the real situation, and (b)a thorough and complex model that is the most accurate mathematical representation of the real situation possible. Why might the model described in part (a) be preferred by the manager?
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#28Even though independent gasoline stations have been having a difficult time, Susan Solomon hasbeen thinking about starting her own independent gasoline station. Susan’s problem is to decide howlarge her station should be. The annual returns will depend on both the size of her station and a numberof marketing factors related to the oil industry and demand for gasoline. After a careful analysis, Susandeveloped the following table: GOOD FAIR POORSIZE OF MARKET MARKET MARKETFIRST STATION ($) ($) ($)Small 50,000 20,000 –10,000Medium 80,000 30,000 –20,000Large 100,000 30,000 –40,000Very large 300,000 25,000 –160,000For example, if Susan constructs a…
Integrated Products Corporation (IPC) needs to estimate its PC sales for next year.The most recent six years of revenue data for the company’s line of XT PersonalComputers, and those of the industry, is found in the table below:Year XT PC Sales Revenue($’000,000)All Industry PC Sales Revenue($’000,000,000)1 2.4 4.62 5.9 8.63 15.5 10.74 27.8 14.85 35.9 18.56 38.1 19.4Required:A. Assuming that the sales data above are representative of sales expected nextyear, use time series regression analysis to forecast next year’s sales revenues(there is no seasonal effect).B. Perform a regression analysis between the annual sales revenues of XTPersonal Computers and all industry PC annual sales revenues. What is theforecast for next year’s sales revenue for XT Personal Computers if the estimateof next year’s industry PC sales revenues is $21.9 billion? C. Advise management at Integrated Products Corporation (IPC) which of the twosales estimates from parts A and B above they should use. Justify your…
Integrated Products Corporation (IPC) needs to estimate its PC sales for next year.The most recent six years of revenue data for the company’s line of XT PersonalComputers, and those of the industry, is found in the table below:Year XT PC Sales Revenue($’000,000)All Industry PC Sales Revenue($’000,000,000)1 2.4 4.62 5.9 8.63 15.5 10.74 27.8 14.85 35.9 18.56 38.1 19.4Required:A. Assuming that the sales data above are representative of sales expected nextyear, use time series regression analysis to forecast next year’s sales revenues(there is no seasonal effect).B. Perform a regression analysis between the annual sales revenues of XTPersonal Computers and all industry PC annual sales revenues. What is theforecast for next year’s sales revenue for XT Personal Computers if the estimateof next year’s industry PC sales revenues is $21.9 billion?
Based on Carino and Lenoir (1988). BradyCorporation produces cabinets. Each week, Bradyrequires 90,000 cubic feet of processed lumber. Thecompany can obtain lumber in two ways. First, itcan purchase lumber from an outside supplier andthen dry it at the Brady kiln. Second, Brady canchop down trees on its land, cut them into lumber atits sawmill, and then dry the lumber at its kiln. Thecompany can purchase grade 1 or grade 2 lumber.Grade 1 lumber costs $3 per cubic foot and whendried yields 0.7 cubic foot of useful lumber. Grade 2lumber costs $7 per cubic foot and when dried yields0.9 cubic foot of useful lumber. It costs the company$3 to chop down a tree. After being cut and dried,a log yields 0.8 cubic feet of lumber. Brady incurscosts of $4 per cubic foot of lumber it dries. It costs$2.50 per cubic foot of logs sent through the sawmill.Each week, the sawmill can process up to 35,000cubic feet of lumber. Each week, up to 40,000 cubicfeet of grade 1 lumber and up to 60,000 cubic feetof…
The management of the Keribels Company wishes to apply the Miller-Orr model to manage its cash investments. They have determined that the cost of either investing in or selling marketable securities is P 100. By looking at the Keribels Company’s past cash needs, they have determined that the variance of daily cash flow is P 75,000. Keribels Company’s opportunity cost of cash per day is 0.05%. Based on their experience the cash balance should not fall below P 50,000. WHAT IS THE RETURN POINT?
We are considering investing in three stocks. The randomvariable Si represents the value one year from now of $1invested in stock i. We are given that E(S1) 1.15, E(S2) 1.21, E(S3) 1.09; var S1 0.09, var S2 0.04, var S3 0.01; cov(S1, S2) 0.006, cov(S1, S3) 0.004, and cov(S2,S3) 0.005. We have $100 to invest and want to have anexpected return of at least 15% during the next year.Formulate a QPP to find the portfolio of minimum variancethat attains an expected return of at least 15%.
Bob and Dora Sweet wish to start investing $1,000 each month. The Sweets are looking at five investment plans and wish to maximize their expected return each month. Assume interest rates remain fixed and once their investment plan is selected they do not change their mind. The investment plans offered are: Fidelity 9.1% return per year Optima 16.1% return per year CaseWay 7.3% return per year Safeway 5.6% return per year National 12.3% return per year Since Optima and National are riskier, the Sweets want a limit of 30% per month of their total investments placed in these two investments. Since Safeway and Fidelity are low risk, they want at least 40% of their investment total placed in these investments.Formulate the LP model for this problem, using the standard LP format. Remember to define the objective function, the decision variables, and label the constraint functions. There is no need to solve the problem. Note:- Do not provide handwritten solution. Maintain…