4. A fast-food chain has many hundreds of franchisesnationwide. Ideally, each franchise would generateequal amounts of revenue for the chain, but in reality,some perform better than others. An internal auditreveals the following results: the lowest 30% of thefranchises account for just 6% of the total revenue,the lowest 50% account for 20% of the total revenue,and the lowest 70% account for 43.5% of the totalrevenue. (Assume that 100% of the franchisesaccount for 100% of the total revenue.)BURGERKING??BurgerChefDrive ThruBREAKFASTDRIVE THRUMMcDonald'sBILLION SEVEDDRIVE-THRUArby'sROASTBEEFSandwichBURGERKINGBURGERKINGa) Use regression to determine a power function thatmodels these data, and write the Lorenz functionin the form f(x) = x". The coefficient should be1, so you may have to do some rounding.b) Determine the Gini coefficient and the Gini index.c) What percentage of total revenue is generated bythe lowest 45% of the franchises?d) What percentage of total revenue is generated bythe top 10% of the franchises?

Answered: Image /qna-images/answer/7a591443-3ce6-46bc-8850-ee9fe591a3bf.jpg

Answered: 4. A fast-food chain has many hundreds…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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MIRA Corp. forecasted the following sales: $127,000 in February, $136,000 in March, $152,000 in April, and $145,000 in May. The average cost of goods sold is 80% of sales. All sales are on made on credit and sales are collected 65% in the month of sale, and 35% the month following. What are budgeted cash receipts in March? Multiple Choice $136,850 $132,850 $93,550 $96,350
An insurance company offers four different deductible levels-none, low, medium, and high-for its homeowner's policyholders and three different levels-low, medium, and high-for its automobile policyholders. The accompanying table gives proportions for the various categories of policyholders who have both types of insurance. For example, the proportion of individuals with both low homeowner's deductible and low auto deductible is 0.07 (7% of all such individuals). Homeowner's Auto N L M H 0.04 0.07 0.05 0.01 M 0.07 0.11 0.20 0.10 H 0.02 0.03 0.15 0.15 Suppose an individual having both types of policies is randomly selected. (a) What is the probability that the individual has a medium auto deductible and a high homeowner's deductible? (b) What is the probability that the individual has a low auto deductible? A low homeowner's deductible? auto deductible homeowner's deductible (c) What is the probability that the individual is in the same category for both auto and homeowner's deductibles?…
A business executive realizes that he is out of shape so he begins an exercise program in which he jogs daily and each day thereafter jogs 3% more miles than he did on the previous day. The program will be complete when he has jogged a total of at least 66 miles. If he jogs 3 miles on the first day, what is the minimum number of days he will have to exercise to complete the program?
Yesterday's closing prices of 2,420 different sto listed on a certain stock exchange were all different from today's closing prices. The number of stocks that closed at a higher price today than yesterday was 20 percent greater than the number that closed at a lower price. How many of the stocks closed at a higher price today than yesterday?
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An fruit grower knows from previous experience and careful data analysis that if the fruit on a specific kind of tree is harvested at this time of year, each tree will yield, on average, 130 pounds, and will sell for $5.2 per pound. However, for each additional week the harvest is delayed (up to a point), the yield per tree will increase by 1.7 pounds, while the price per pound will decrease by $0.06. A) How many weeks should the grower wait before harvesting the apples in order to maximize the sales revenue per tree? (Round your answer to the nearest tenth of a week.) (rounded to the nearest tenth) B) Use your answer in part A to find the actual maximum revenue that can be expected. (Round your answer to the nearest dollar.) dollars (rounded to the nearest Answer: Answer: dollar)
An insurance company offers four different deductible levels-none, low, medium, and high-for its homeowner's policyholders and three different levels-low, medium, and high-for its automobile policyholders. The accompanying table gives proportions for the various categories of policyholders who have both types of insurance. For example, the proportion of individuals with both low homeowner's deductible and low auto deductible is 0.05 (5% of all such individuals). Auto L M H Homeowner's NLMH 0.04 0.05 0.05 0.02 0.07 0.09 0.20 0.13 0.02 0.03 0.15 0.15 Suppose an individual having both types of policies is randomly selected. (a) What is the probability that the individual has a medium auto deductible and a high homeowner's deductible? (b) What is the probability that the individual has a low auto deductible? A low homeowner's deductible? auto deductible homeowner's deductible (c) What is the probability that the individual is in the same category for both auto and homeowner's deductibles?…
Suppose that every year, only 10% of the fish in a lake have surviving offspring. If there were 100 fish in the lake last year, there would now be 110 fish. If there were 1000 fish in the lake last year, there would now be 1100 fish. Absent any inhibiting factors, populations of people and animals tend to grow by a percent of the existing population each year. Suppose our lake began with 1000 fish, and 10% of the fish have surviving offspring each year. Since we start with 1000 fish, Po 1000. How do we calculate P₁? The new population will be the old population, plus an additional 10%. Symbolically: = P1 = Po + 0.10Po Notice this could be condensed to a shorter form by factoring: P₁= Po+0.10Po = 1Po + 0.10Po= (1+0.10)Po= 1.10Po While 10% is the growth rate, 1.10 is the growth multiplier. Notice that 1.10 can be thought of as "the original 100% plus an additional 10%" For our fish population, P₁ = 1.10(1000) = 1100 We could then calculate the population in later years. Fill in the…
A friend who lives in Los Angeles makes frequent consulting trips to Washington, DC; 50% of the time she travels on airline #1, 30% of the time on airline #2, and the remaining 20% of the time on airline #3. For airline #1, flights are late into DC 30% of the time and late into LA 10% of the time. For airline #2, these percentages are 25% and 20%, whereas for airline #3 the percentages are 40% and 25%. If we learn that on a particular trip she arrived late at exactly one of the two destinations, what are the posterior probabilities of having flown on airlines #1, #2, and #3? Hint: From the tip of each first-generation branch on a tree diagram, draw three second-generation branches labeled, respectively, 0 late, 1 late, and 2 late.
A manufacturing company that has just located in a small community will pay two million dollars per year in salaries. It has been estimated that 60% of these salaries will be spent in the local area, and 60% of the money spent will again change hands within the community. This process, called the multiplier effect, will be repeated ad infinitum. Find the total amount of local spending that will be generated by company salaries.
Companies in the U.S. car rental market vary greatly in terms of the size of the fleet, the number of locations, and annual revenue. In 2011, Hertz had 320,000 cars in service and annual revenue of approximately $4.2 billion. Suppose the following data show the number of cars in service (1,000s) and the annual revenue ($ millions) for six smaller car rental companies. (a) Develop a scatter diagram with the number of cars in service as the independent variable. (b) What does the scatter diagram developed in part (a) indicate about the relationship between the two variables? (c) Use the least squares method to develop the estimated regression equation that can be used to predict annual revenue (in $ millions) given the number of cars in service (in 1,000s). (Round your numerical values to three decimal places.) (d) For every additional car placed in service, estimate how much annual revenue will change (in dollars). (Round your answer to the nearest integer.) Annual revenue…
An insurance company offers four different deductible levels-none, low, medium, and high-for its homeowner's policyholders and three different levels-low, medium, and high-for its automobile policyholders. The accompanying table gives proportions for the various categories of policyholders who have both types of insurance. For example, the proportion of individuals with both low homeowner's deductible and low auto deductible is 0.05 (5% of all such individuals). Homeowner's N L M н Auto L 0.04 0.05 0.05 0.02 M 0.07 0.11 0.20 0.11 0.02 0.03 0.15 0.15 Suppose an individual having both types of policies is randomly selected. (a) What is the probability that the individual has a medium auto deductible and a high homeowner's deductible? (b) What is the probability that the individual has a low auto deductible? A low homeowner's deductible? auto deductible homeowner's deductible (c) What is the probability that the individual is in the same category for both auto and homeowner's deductibles?…

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