Read this and then briefly explain history of Marshall olkin transformation? 10:06Answer 1 of 1In the 1970s, Olkin turned his attention tothe problem of moment estimation in thepresence of multivariate data. He developedthe method of moments estimation, whichis a generalization of the method ofmoments estimation for univariate data. Healso showed that the method of momentsestimation is asymptotically efficient in thepresence of multivariate data.In the 1980s, Olkin developed the theory oforder statistics for multivariate data. Heshowed that the distribution of the orderstatistics of a multivariate random vector isa generalization of the univariate case. Healso derived the asymptotic distribution ofthe order statistics of a multivariate randomvector.Olkin has also made contributions to thefields of nonparametric statistics and timeseries analysis. In the field of nonparametricstatistics, he has developed the theory ofrank-based nonparametric tests. In the fieldof time series analysis, he has developedthe theory of autoregressive movingDoneaverage processes.Olkin has been a member of the NationalAcademy of Sciences since 1975. He is aFellow of the American StatisticalAssociation and the Institute ofMathematical Statistics. He has also been aGuggenheim Fellow and a Fulbright Scholar.Olkin has received many honors and awardsfor his contributions to statistics. Inparticular, he has been awarded theDumnidantal Anal of the lotitia of In the 1970s, Olkin turned his attention tothe problem of moment estimation in thepresence of multivariate data. He developedthe method of moments estimation, whichis a generalization of the method ofmoments estimation for univariate data. Healso showed that the method of momentsestimation is asymptotically efficient in thepresence of multivariate data.In the 1980s, Olkin developed the theory oforder statistics for multivariate data. Heshowed that the distribution of the orderstatistics of a multivariate random vector isa generalization of the univariate case. Healso derived the asymptotic distribution ofthe order statistics of a multivariate randomvector.Olkin has also made contributions to thefields of nonparametric statistics and timeseries analysis. In the field of nonparametricstatistics, he has developed the theory ofrank-based nonparametric tests. In the fieldof time series analysis, he has developedthe theory of autoregressive movingaverage processes.Olkin has been a member of the National

In the last decade Marshall and Olkin (1997) introduced a general method to introduce a shape…

In the 1970s, Olkin turned his attention to the problem of moment estimation in the presence of multivariate data. He developed the method of moments estimation, which is a generalization of the method of moments estimation for univariate data. He also showed that the method of moments estimation is asymptotically efficient in the presence of multivariate data.

In the 1970s, Olkin turned his attention to the problem of moment estimation in the presence of multivariate data. He developed the method of moments estimation, which is a generalization of the method of moments estimation for univariate data. He also showed that the method of moments estimation is asymptotically efficient in the presence of multivariate data.

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter4: Linear Programming Models

Section: Chapter Questions

Problem 84P

See similar textbooks

Similar questions

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…
When calculating a company’s free cash flow from earnings before interest and taxes we must add back depreciation, amortization and depletion expense and allowances because * The accounting method for reporting such expenses may be different from that reported to the taxing authority. They approximate the value of fixed asset purchases during the year. They are unrelated to the amount of taxes paid during the year. They are non-cash expenditures.
J&J has given you $12 million to spend on advertising Huggys diapers during the next 12 months. Atthe beginning of January, Huggys has a 30% market7.9 Conclusion 401share. During any month, 10% of the people whopurchase Huggys defect to brand X, and a fraction0.2a1y2 of customers who usually buy brand X switchto Huggys, where a is the amount spent on advertisingin millions of dollars. For example, if you spend $4million during a month, 40% of brand X’s customersswitch to Huggys. Your goal is to maximize J&J’saverage market share during the next 12 months,where the average is computed from each month’sending share. Determine an appropriate advertisingpolicy. (Hint: Make sure you enter a nonzero trialvalue for each month’s advertising expense or Solvermight give you an error message.)
Over a two-year period, the Topper Company sold the following numbers of lawnmowers:Month: 1 2 3 4 5 6 7 8 9 10 11 12Sales: 238 220 195 245 345 380 270 220 280 120 110 85Month: 13 14 15 16 17 18 19 20 21 22 23 24Sales: 135 145 185 219 240 420 520 410 380 320 290 240a. In column A input the numbers 1 to 24 representing the months and incolumn B the observed monthly sales. Compute the three-month moving-averageforecast and place this in the third column. Be sure to align your forecast with theperiod for which you are forecasting (the average of sales for months 1, 2, and 3should be placed in row 4; the average of sales for months 2, 3, and 4 in row 5; andso on.) In the fourth column, compute the forecast error for each month in whichyou have obtained a forecast.
The equation below specifies a function with independent variable x. Determine whether the function is linear, constant, or neither x=2y+5
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?
Confederate Express Service is attempting to determinehow its shipping costs for a month depend on the numberof units shipped during a month. For the last 15 months, thenumber of units shipped and total shipping cost are given inTable 24 (file Ship.xls). Units TotalMonth Shipped Shipping Cost1 300 $1,0602 400 $1,3803 500 $1,6404 200 $7405 300 $1,0606 350 $1,1907 460 $1,5208 480 $1,5809 120 $54010 760 $2,42011 580 $2,20012 340 $1,47013 120 $79014 100 $72015 500 $1,960
Mete makes his living buying and selling corn. On January 1, he has 50 tons of corn and 1000 TL. On the first day of each month Mete can buy corn at the following prices per ton. January: 300 TL, February: 350 TL, March: 400 TL, April: 500 TL. On the last day of each month Mete can sell corn at the following prices per ton: January: 250 TL, February: 400 TL, March: 350 TL, April: 550 TL. Mete stores his corn in a warehouse that can hold at most 1100 tons of corn. He must be able to pay cash for all corn at the time of purchase. How Mete can maximize his cash on hand at the end of April. Which of the following is the correct objective function for the given statement? Please use (Xi = Tons of corn purchased at the beginning of month i.; Yi = Tons of corn sold at the end of month i.)
Chris LeBlanc estimates that if he does five hours of research using datathat will cost $175, there is a good chance that he can improve hisexpected return on a $10,000, one-year investment from 6% to 9%. Chrisfeels that he must earn at least $30 per hour on the time he devotes to hisresearch.a. Find the cost of Chris’s research.b. By how much (in dollars) will Chris’s return increase as a result ofthe research?c. On a strict economic basis, should Chris perform the proposed reserach?
Chemco produces three products: 1, 2, and 3. Eachpound of raw material costs $25. It undergoes processingand yields 3 oz of product 1 and 1 oz of product 2. It costs$1 and takes 2 hours of labor to process each pound of rawmaterial. Each ounce of product 1 can be used in one ofthree ways.It can be sold for $10/oz.It can be processed into 1 oz of product 2. This requires 2 hours of labor and costs $1.It can be processed into 1 oz of product 3. This requires 3 hours of labor and costs $2.Each ounce of product 2 can be used in one of two ways.It can be sold for $20/oz.It can be processed into 1 oz of product 3. This requires 1 hour of labor and costs $6.Product 3 is sold for $30/oz. The maximum number ofounces of each product that can be sold is given in Table 23.A maximum of 25,000 hours of labor are available.Determine how Chemco can maximize profit. TAB LE 23Product Oz1 5,0002 5,0003 3,000
(Please use the format of the speadsheet in the image) A rancher is mixing two types of foods, Brand X and Brand Y, for his cattle. Each serving for cattle is required to have 360 grams of protein and 360 grams of fat. Brand X has 5 grams of protein and 10 grams of fat. Brand Y has 10 grams of protein and 5 grams of fat. Rancher has found that Brand X costs $3.5 and brand Y costs $5 per unit. Find out how much of each type should be used by the rancher to minimize cost. Keep in mind that the rancher has to buy at least one unit of each brand. Moreover, the number of brand X has to be twice the number of brand Y. (Possible Answer: $216)
Ariel holds a $10,000 portfolio that consists of four stocks. Her investment in each stock, as well as each stock’s beta, is listed in the following table: Stock Investment Beta Standard Deviation Andalusian Limited (AL) $3,500 0.80 15.00% Kulatsu Motors Co. (KMC) $2,000 1.50 12.00% Western Gas & Electric Co. (WGC) $1,500 1.20 16.00% Makissi Corp. (MC) $3,000 0.50 22.50% Suppose all stocks in Ariel’s portfolio were equally weighted. Which of these stocks would contribute the least market risk to the portfolio? Makissi Corp. Andalusian Limited Western Gas & Electric Co. Kulatsu Motors Co. Suppose all stocks in the portfolio were equally weighted. Which of these stocks would have the least amount of standalone risk? Western Gas & Electric Co. Makissi Corp. Andalusian Limited Kulatsu Motors Co. If the risk-free rate is 4% and the market risk premium is 6%, what is Ariel’s…