enough water for the growing population. The city council needs to decide whether to The table shows the amount of water consumed by the city over a 7-year period. (An build a new reservoir to sustain the water needs of the growing town. authority is closely monitoring water usage to make sure the reservoir will provide 8. REINFORCE The town of Benton is experiencing a population increase. The local water Exploring "Representing data" Page 6 of 7 foot.) Year 2008 2009 2010 2011 2012 2013 2014 Acre-feet of water 60 76 92 100 108 68 84 consumed (in hundreds) The head of the local water authority, Rob Salinas, is preparing a neutral presentation to the city council. His assistant created three graphs of average yearly water use for him to choose from. Graph C Graph B Graph A 200 Years aince 2008 Water uned (100 ot ITTT
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- Using customer demand data, a company estimates it needs to produce items at a takt time of 38 seconds per item. Based on the operator loading chart shown (as is, without balancing), this process can meet takt time. True or FalseA manufacturer of lightweight mountain tents makes a standard model and an expeditionmodel for national distribution. Each standard tent requires 1 labour hour from the cuttingdepartment and 3 labour hours from the assembly department. Each expedition tent requires 2labour hours from the cutting department and 4 labour hours from the assembly department.The maximum labour hours available per day in the cutting department and the assemblydepartment are 32 and 84 respectively. If the company makes a profit of E50 on each standardtent and E80 on each expedition tent, use the graphical method to determine how many tentsof each type should be manufactured each day to maximize the total daily profit?The following graph shows the labor market for research assistants in the fictional country of Collegia. The equilibrium wage is $10 per hour, and the equilibrium number of research assistants is 200. Suppose the government has decided to institute a $2-per-hour payroll tax on research assistants and is trying to determine whether the tax should be levied on the employer, the workers, or both (such that half the tax is collected from each side). Use the graph input tool to evaluate these three proposals. Entering a number into the Tax Levied on Employers field (initially set at zero dollars per hour) shifts the demand curve down by the amount you enter, and entering a number into the Tax Levied on Workers field (initially set at zero dollars per hour) shifts the supply curve up by the amount you enter. To determine the before-tax wage for each tax proposal, adjust the amount in the Wage field until the quantity of labor supplied equals the quantity of labor demanded. You will not be…
- Two pumps capable of delivering 100 hp to an agricultural application are being evaluated in a present economy study. The selected pump will only be utilized for one year, and it will have no market value at the end of the year. Pertinent data are summarized as given follows. If electric power costs $0.10 per kWh and the pump will be operated 4,000 hours per year, which pump should be chosen? Recall that 1 hp = 0.746 kW.Within a company is a (micro)economy that is monitored by the accounting procedures. In terms of the accounts, the various departments "produce" costs, some of which are internal and some of which are direct costs. This problem shows how an open Leontief model can be used to determine departmental costs. The sales department of an auto dealership charges 10% of its total monthly costs to the service department, and the service department charges 20% of its total monthly costs to the sales department. During a given month, the direct costs are $68,600 for sales and $29,400 for service. Find the total costs (in dollars) of each department. (Round your answers to the nearest whole number.)Draw a graph that best represents the feasibility region for the system above?
- It is often said that the economy of Arizona depends on the “Five C’s”: Copper, Cattle, Cotton, Citrus, andClimate. Assume a (highly simplified) model of the Arizona Economy that depends only on C1, C2, C3, C4,and C5, which represent the number of economic units (pennies, pounds, etc) purchased of each of the FiveC’s, respectively. Further assume that the Utility, or Economic Value (which is different from DollarValue), can be described by the function:U(C1, C2, C3, C4, C5) = C1∙C2∙C3∙C4∙C5As a mathematical function, does U have a maximum or minimum value? What values of Ci correspond tothe minimum value of U? What values of Ci correspond to the maximum value of U? Do these values of Cimake sense from an economic standpoint?A baseball card store can obtain Mel Schlabotnic rookie cards at a cost of $4 per card. The store has been offering the cards at $13 apiece and, at this price, has been selling 28 cards per month. The store is planning to lower the price to stimulate sales and estimates that for each 50-cent reduction in the price, 4 more cards will be sold each month. At what price should the cards be sold to maximize total monthly profit?The River is a literary magazine published by the English Department at Tech. It has a 70-year history and enjoys an excellent reputation for providing a literary outlet for aspiring Appalachian writers in particular. However, its sales, mostly through independent bookstores and college libraries, have never been very large. Several years ago, the magazine’s advisory board decided to create a Web site and post the bi-monthly issues online for free access. Due to poor economic conditions and state budget cuts, Tech recently withdrew funding for the magazine, and in order to make up for this financial loss, the magazine’s staff has decided to try to sell advertising (especially to local and regional businesses) on the magazine’s Web site. In order to sell advertising, the magazine’s staff would like to be able to provide potential advertisers with a forecast of the number of “visits” the Web site might receive in future months. Following is the number of monthly visits the Web site has…
- How many units of each chemical should be purchased to maximize production of chemical Z? What is the maximum number of units of chemical Z?An oil explorer must decide whether to drill on a site before her option expires or to abandon her rights to the site. Drilling a well costs $100,000. If oil is struck, the explorer will sell and make a $500,000 profit. The explorer can hire a geologist to take a seismic sounding of the site at the cost of $10,000. Such soundings reveal, with certainty, whether the geophysical substructure of the land is of type A, type B or Type C, where each type has a different degree of favorability for the existence of oil. From experience, the probability that a certain substructure will occur, given that oil exists, is P(type A|oil) = 14/28 P(type B|oil) = 9/28 P(type C|oil) = 5/28. Further, the following probabilities for substructures at this site are P(type A) = 0.20 P(type B) = 0.30 P(type C) = 0.50 given that P(oil) = 0.28. Perform a decision tree analysis. Determine the EVPI and EVE.The Fast Track Ski Shoppe sells ski goggles during the four months of the ski season.Average demand follows: a. Calculate the deseasonalized sales and the seasonal index for each of the fourmonths.b. If next year’s demand is forecast at 1200 pairs of goggles, what will be the forecast sales for each month?