In linear programming, sensitivity analysis is associated with: (I) objective function coefficient (II) right-hand side values of constraints (III) constraint coefficient A. I and II B. II and III C. I, II and III D. I and III E. none of the above
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In linear programming, sensitivity analysis is associated with: (I) objective function coefficient (II) right-hand side values of constraints (III) constraint coefficient
A. I and II B. II and III C. I, II and III D. I and III E. none of the above
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- The management of a technology company is trying to determine the variable that best explains the variation of employee salaries using a sample of 52 full-time employees; see the file P13_08.xlsx. Estimate simple linear regression equations to identify which of the following has the strongest linear relationship with annual salary: the employees gender, age, number of years of relevant work experience prior to employment at the company, number of years of employment at the company, or number of years of post secondary education. Provide support for your conclusion.Stock market analysts are continually looking for reliable predictors of stock prices. Consider the problem of modeling the price per share of electric utility stocks (Y). Two variables thought to influence this stock price are return on average equity (X1) and annual dividend rate (X2). The stock price, returns on equity, and dividend rates on a randomly selected day for 16 electric utility stocks are provided in the file P13_15.xlsx. Estimate a multiple regression equation using the given data. Interpret each of the estimated regression coefficients. Also, interpret the standard error of estimate and the R-square value for these data.An automobile manufacturer is considering whether to introduce a new model called the Racer. The profitability of the Racer depends on the following factors: The fixed cost of developing the Racer is triangularly distributed with parameters 3, 4, and 5, all in billions. Year 1 sales are normally distributed with mean 200,000 and standard deviation 50,000. Year 2 sales are normally distributed with mean equal to actual year 1 sales and standard deviation 50,000. Year 3 sales are normally distributed with mean equal to actual year 2 sales and standard deviation 50,000. The selling price in year 1 is 25,000. The year 2 selling price will be 1.05[year 1 price + 50 (% diff1)] where % diff1 is the number of percentage points by which actual year 1 sales differ from expected year 1 sales. The 1.05 factor accounts for inflation. For example, if the year 1 sales figure is 180,000, which is 10 percentage points below the expected year 1 sales, then the year 2 price will be 1.05[25,000 + 50( 10)] = 25,725. Similarly, the year 3 price will be 1.05[year 2 price + 50(% diff2)] where % diff2 is the percentage by which actual year 2 sales differ from expected year 2 sales. The variable cost in year 1 is triangularly distributed with parameters 10,000, 12,000, and 15,000, and it is assumed to increase by 5% each year. Your goal is to estimate the NPV of the new car during its first three years. Assume that the company is able to produce exactly as many cars as it can sell. Also, assume that cash flows are discounted at 10%. Simulate 1000 trials to estimate the mean and standard deviation of the NPV for the first three years of sales. Also, determine an interval such that you are 95% certain that the NPV of the Racer during its first three years of operation will be within this interval.
- A small computer chip manufacturer wants to forecast monthly ozperating costs as a function of the number of units produced during a month. The company has collected the 16 months of data in the file P13_34.xlsx. a. Determine an equation that can be used to predict monthly production costs from units produced. Are there any outliers? b. How could the regression line obtained in part a be used to determine whether the company was efficient or inefficient during any particular month?The method for rating teams in Example 7.8 is based on actual and predicted point spreads. This method can be biased if some teams run up the score in a few games. An alternative possibility is to base the ratings only on wins and losses. For each game, you observe whether the home team wins. Then from the proposed ratings, you predict whether the home team will win. (You predict the home team will win if the home team advantage plus the home teams rating is greater than the visitor teams rating.) You want the ratings such that the number of predictions that match the actual outcomes is maximized. Try modeling this. Do you run into difficulties? (Remember that Solver doesnt like IF functions.) EXAMPLE 7.8 RATING NFL TEAMS9 We obtained the results of the 256 regular-season NFL games from the 2015 season (the 2016 season was still ongoing as we wrote this) and entered the data into a spreadsheet, shown at the bottom of Figure 7.38. See the file NFL Ratings Finished.xlsx. (Some of these results are hidden in Figure 7.38 to conserve space.) The teams are indexed 1 to 32, as shown at the top of the sheet. For example, team 1 is Arizona, team 2 is Atlanta, and so on. The first game entered (row 6) is team 19 New England versus team 25 Pittsburgh, played at New England. New England won the game by a score of 28 to 21, and the point spread (home team score minus visitor team score) is calculated in column J. A positive point spread in column J means that the home team won; a negative point spread indicates that the visiting team won. The goal is to determine a set of ratings for the 32 NFL teams that most accurately predicts the actual outcomes of the games played.2 Vidhya Balan is planning to liquidate her investments inmutual funds and invest in real estate. Before makingthe change to her investment strategy, Vidhya wants toforecast the price of mutual funds for the next 2 months.She has collected the following data on the average fundprices for the past 10 months.Month Average Fund Price1 55.12 53.83 53.44 52.955 52.156 52.757 52.658 51.59 52.2510 51.7a Using a five-period moving average, forecast theaverage fund price for Period 11.b. Using exponential smoothing with α = 0.3 forecastthe average fund price for Period 11. Assume an initialforecast for Month 2 (F2) as 55.10
- A motion picture industry analyst is studying movies based on epic novels. The following data were obtained for 10 Hollywood movies made in the past five years. Each movie was based on an epic novel. For these data, x1 = first-year box office receipts of the movie, x2 = total production costs of the movie, x3 = total promotional costs of the movie, and x4 = total book sales prior to movie release. All units are in millions of dollars. x1 x2 x3 x4 85.1 8.5 5.1 4.7 106.3 12.9 5.8 8.8 50.2 5.2 2.1 15.1 130.6 10.7 8.4 12.2 54.8 3.1 2.9 10.6 30.3 3.5 1.2 3.5 79.4 9.2 3.7 9.7 91.0 9.0 7.6 5.9 135.4 15.1 7.7 20.8 89.3 10.2 4.5 7.9 a) Suppose Hollywood is planning a new epic movie with projected box office sales x1 = 100 million and production costs x2 = 12 million. The book on which the movie is based had sales of x4 = 9.2 million. Forecast the dollar amount (in millions) that should be budgeted for promotion costs x3 and find an 80% confidence interval for your…A small manufacturing firm collected the following data on advertising expenditures A (in thousands of dollars) and total revenue R (in thousands of dollars). (a) Draw a scatter diagram of the data. Comment on the type of relation that may exist between the two variables.(b) The quadratic function of best fit to these data isR(A) = - 7.76A2 + 411.88A + 942.72Use this function to determine the optimal level of advertising.(c) Use the function to predict the total revenue when the optimal level of advertising is spent.(d) Use a graphing utility to verify that the function given in part (b) is the quadratic function of best fit.(e) Use a graphing utility to draw a scatter diagram of the data and then graph the quadratic function of best fit on the scatter diagram.It is thought that prehistoric Indians did not take their best tools, pottery, and household items when they visited higher elevations for their summer camps. It is hypothesized that archaeological sites tend to lose their cultural identity and specific cultural affiliation as the elevation of the site increases. Let x be the elevation (in thousands of feet) for an archaeological site in the southwestern United States. Let y be the percentage of unidentified artifacts (no specific cultural affiliation) at a given elevation. Suppose that the following data were obtained for a collection of archaeological sites in New Mexico: x 5.00 6.00 6.75 7.00 7.50 y 3 57 75 71 71 What percentage of the variation in y can be explained by the corresponding variation in x and the least-squares line? Round your answer to the nearest tenth of a percent. a.81.9% b.0.9% c.90.5% d.3.3%
- Time series decomposition seeks to separate the time series (Y) into 4 components: trend (T), cycle (C), seasonal (S), and irregular (I). What is the difference between these components? The model can be additive or multiplicative. When we do use an additive model? When do we use a multiplicative model? We have different ways of showing and projecting trends in a time series. the three most common are moving averages, exponential smoothing and our new friend regression analysis. How might any of these be used? Have you seen any in use?Honey is a technology company that provides online coupons to its subscribers. Honey's analytics staff has developed a classification method to predict whether a customer who has been sent a coupon will apply the coupon toward a purchase. For a sample of customers, the following table lists the classification model's estimated coupon usage probability for a customer. For this particular campaign, suppose that when a customer uses a coupon, Honey receives $1 in revenue from the product sponsor. To target the customer with the coupon offer, Honey incurs a cost of $0.05. Honey will offer a customer a coupon as long as the expected profit of doing so is positive. Using the equation Expected Profit of Coupon Offer = P(coupon used) × Profit if coupon used + (1 - P(coupon used)) × Profit if coupon not used determine which customers should be sent the coupon. Customer Probability of Using Coupon 1 0.49 2 0.38 3 0.29 4 0.11 5 0.06 Determine the expected profit for each…Describe the analysis of simultaneous changes in coefficients of objective function??