Easyville University awarded scholarships of $50,000.00 each to two students for a bachelor’s degree program. The standard time for degree completion is four years or 8 semesters. Easyville University stipulates that the scholarship amount will be increased or decreased depending on how well the students meet, exceed or fail to meet the standard time (i.e. more money for exceeding standard and less for failing to meet standard). Sam Speedy completed his degree program in three and one half years; while Larry Laggard completed his degree program in five years. Using the Standard Hour Plan, how much scholarship money will be given to: a)Speedy Sam? b) Larry Laggard?
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- Easyville University awarded scholarships of $50,000.00 each to two students for a bachelor’s degree program. The standard time for degree completion is four years or 8 semesters. Easyville University stipulates that the scholarship amount will be increased or decreased depending on how well the students meet, exceed or fail to meet the standard time (i.e. more money for exceeding standard and less for failing to meet standard).
Sam Speedy completed his degree program in three and one half years; while
Larry Laggard completed his degree program in five years.
Using the Standard Hour Plan, how much scholarship money will be given to:
a)Speedy Sam? b) Larry Laggard?
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- Seas Beginning sells clothing by mail order. An important question is when to strike a customer from the companys mailing list. At present, the company strikes a customer from its mailing list if a customer fails to order from six consecutive catalogs. The company wants to know whether striking a customer from its list after a customer fails to order from four consecutive catalogs results in a higher profit per customer. The following data are available: If a customer placed an order the last time she received a catalog, then there is a 20% chance she will order from the next catalog. If a customer last placed an order one catalog ago, there is a 16% chance she will order from the next catalog she receives. If a customer last placed an order two catalogs ago, there is a 12% chance she will order from the next catalog she receives. If a customer last placed an order three catalogs ago, there is an 8% chance she will order from the next catalog she receives. If a customer last placed an order four catalogs ago, there is a 4% chance she will order from the next catalog she receives. If a customer last placed an order five catalogs ago, there is a 2% chance she will order from the next catalog she receives. It costs 2 to send a catalog, and the average profit per order is 30. Assume a customer has just placed an order. To maximize expected profit per customer, would Seas Beginning make more money canceling such a customer after six nonorders or four nonorders?Due to heavy rains that destroyed numerous roadways in Jamaica the National Works Agency (NWA) has decided to repair 300 km of the Sothern Coastal Highway and 200 km of Type A roads from Kingston to Lucea. The repair will cost $2 million per km for the Type A roads and $8 million per km for the Southern Coastal Highway. The NWA has identified two firms China Harbour and Caribbean Construction. Caribbean Construction can repair at most 300 km while China Harbour has no restriction on the amount of roadway it can repair. Each company must be awarded a contract of at least $300 million (before discounts). Each company wants to maximize the quantity of highway and Type A roads awarded by the NWA so are willing to offer a per km discount. China Harbour offers a discount of 1% for each km of Southern Coastal Highway and Type A road. Caribbean Construction offers a flat discount of $30,000 for each km of Type A road and $50,000 for each km of the Southern Coastal Highway. Due to a significant…Paul Bergey is in charge of loading cargo ships for International Cargo Company (ICC) at the port in Newport News, Virginia. Paul is preparing a loading plan for an ICC freighter destined for Ghana. An agricultural commodities dealer wants to transport the following products aboard this ship Paul can elect to load any and/or all of the available commodities. However, the ship has three cargo holds with the following capacity restrictions. More than one type of commodity can be placed in the same cargo hold. However, because of balance considerations, the weight in the forward cargo hold must be within 10% of the weight in the rear cargo hold and the center cargo hold must be between 40% to 60% of the total weight on board.a. Formulate an LP model for this problem.b. Create a spreadsheet model for this problem and solve it using Solver. c. What is the optimal solution?
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