How many undergraduate students, graduate students and faculty members should be hired in order to maximize the number of interviews that will be conducted. What is the maximum number of interviews? *(Let x be the number of college students to be hired, y the number of graduate students to be hired. z the number of faculty members to be hired and I the number of interviews) * What is the objective function to the problem? Excluding the non-negative constraint, how may constraints can be formulated for the problem? What is the LP model that can be formulated from the problem? In the initial tableau, what is the entering variable? In the initial tableau, what is the leaving variable? How many iteration(s) was/were made to obtain the optimal solution? What is the optimal solution to the problem?
Addition Rule of Probability
It simply refers to the likelihood of an event taking place whenever the occurrence of an event is uncertain. The probability of a single event can be calculated by dividing the number of successful trials of that event by the total number of trials.
Expected Value
When a large number of trials are performed for any random variable ‘X’, the predicted result is most likely the mean of all the outcomes for the random variable and it is known as expected value also known as expectation. The expected value, also known as the expectation, is denoted by: E(X).
Probability Distributions
Understanding probability is necessary to know the probability distributions. In statistics, probability is how the uncertainty of an event is measured. This event can be anything. The most common examples include tossing a coin, rolling a die, or choosing a card. Each of these events has multiple possibilities. Every such possibility is measured with the help of probability. To be more precise, the probability is used for calculating the occurrence of events that may or may not happen. Probability does not give sure results. Unless the probability of any event is 1, the different outcomes may or may not happen in real life, regardless of how less or how more their probability is.
Basic Probability
The simple definition of probability it is a chance of the occurrence of an event. It is defined in numerical form and the probability value is between 0 to 1. The probability value 0 indicates that there is no chance of that event occurring and the probability value 1 indicates that the event will occur. Sum of the probability value must be 1. The probability value is never a negative number. If it happens, then recheck the calculation.
A social science professor has received a grant to fund a research project involving voting trends in the Philippines. The budget of the grant includes P32,000 for conducting a door-to-door interviews the day before the election. College students, graduate students and faculty members will be hired to conduct the interviews. Each college student will conduct 18 interviews and be paid P1,000. Each graduate student will conduct 30 interviews and be paid P1,500. Each faculty member will conduct 25 interviews and be paid P2,000. Due to limited transportation facilities, no more than 20 interviewers can be hired. How many undergraduate students, graduate students and faculty members should be hired in order to maximize the number of interviews that will be conducted. What is the maximum number of interviews? *(Let x be the number of college students to be hired, y the number of graduate students to be hired. z the number of faculty members to be hired and I the number of interviews) * What is the objective function to the problem? Excluding the non-negative constraint, how may constraints can be formulated for the problem? What is the LP model that can be formulated from the problem? In the initial tableau, what is the entering variable? In the initial tableau, what is the leaving variable? How many iteration(s) was/were made to obtain the optimal solution? What is the optimal solution to the problem?
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