Practical Management Science, Loose-leaf Version
5th Edition
ISBN: 9781305631540
Author: WINSTON, Wayne L.; Albright, S. Christian
Publisher: Cengage Learning
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Chapter 8, Problem 34P
a)
Summary Introduction
To determine: The place where the bus should stop.
Introduction: The variation between the present value of the
b)
Summary Introduction
To determine: The reduction in the total walking distance.
Introduction: The variation between the present value of the cash outflows and the present value of the cash inflows are known as the Net Present Value (NPV).
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Students have asked these similar questions
A call center employs 1,425 agents. Every month 57 employees leave the company and 57 new employees are hired.
a. How long on average does an agent work for this call center (in months)
Suppose the cost of hiring and training a new agent is $1,140. The manager of this call center believes that increasing agents’ salaries would keep them working longer at the company. The manager wants to increase the average time that an agent works for the call center to 36 months, or three years.
b-1. Given the current average working time for agents at this call center, determine the current annual cost for hiring and training.
b-2. Assuming the average time that an agent works for the call center is increased to 36 months, determine the new annual cost for hiring and training.
b-3. If the time an agent works for the call center is increased to 36 months on average, how much could the company save on hiring and training costs over a year?
Subject: FUNDAMENTALS OF BUSINESS ANALYTICS
Problem: The Supermarket contains over 14,000 transactions made by supermarket customers over a period of approximately two years. (The data are not real, but real supermarket chains have huge data sets just like this one.) A small sample of the data appears in in the Figure below, Column B contains the date of the purchase, column C is a unique identifier for each customer, columns D–H contain information about the customer, columns I–K contain the location of the store, columns L–N contain information about the product purchased (these columns have been hidden to conserve space), and the last two columns indicate the number of items purchased and the amount paid.
Question: Based on the given problem and picture provided, determine which variables are categorical and numerical?
What factors determine whether a person chooses car or bus to travel to work? That is an interesting
question. Suppose that you analyze this simple transportation problem using the probit model. The
variables in the model are defined as follows:
autotime
commute time via auto, minutes
commute time via bus, minutes
=(bus time - auto time)/10, 10 minute units
= 1 if auto chosen
bustime
dtime
auto
The probit model you estimate is
P(AUTO = 1) = ¤(ß1 + B2DTIME).
The estimates of the parameters are: -0.0788 + 0.400DTIME.
The marginal effect of increasing public (bus) transportation time, given that travel via public
transportation currently takes 15 minutes longer than auto travel is
A) 0.348
B) 0.139
C) 0.307
D) 0.123
E) None of the above (A, B, C, D) is close to be correct.
Chapter 8 Solutions
Practical Management Science, Loose-leaf Version
Ch. 8.3 - Prob. 1PCh. 8.3 - Prob. 2PCh. 8.4 - Prob. 3PCh. 8.4 - Prob. 4PCh. 8.4 - Prob. 5PCh. 8.5 - Prob. 6PCh. 8.5 - Prob. 7PCh. 8.5 - In the lawn mower production problem in Example...Ch. 8.6 - Prob. 9PCh. 8.6 - Prob. 10P
Ch. 8.6 - Prob. 11PCh. 8.6 - Prob. 12PCh. 8.7 - Prob. 13PCh. 8.7 - Prob. 14PCh. 8.8 - Prob. 15PCh. 8.9 - Prob. 17PCh. 8.9 - Prob. 18PCh. 8.10 - Prob. 20PCh. 8.10 - Prob. 21PCh. 8.10 - Prob. 22PCh. 8.10 - Prob. 23PCh. 8.10 - Prob. 24PCh. 8 - Prob. 25PCh. 8 - Prob. 26PCh. 8 - Prob. 27PCh. 8 - Prob. 28PCh. 8 - Prob. 29PCh. 8 - Prob. 30PCh. 8 - Prob. 31PCh. 8 - Prob. 32PCh. 8 - Prob. 33PCh. 8 - Prob. 34PCh. 8 - Prob. 35PCh. 8 - Prob. 36PCh. 8 - Prob. 37PCh. 8 - Prob. 38PCh. 8 - Prob. 39PCh. 8 - Prob. 40PCh. 8 - Prob. 41PCh. 8 - Prob. 42PCh. 8 - Prob. 43PCh. 8 - Prob. 44PCh. 8 - Prob. 46PCh. 8 - Prob. 1CCh. 8 - Prob. 2C
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