A simplified version of Leontief's analysis of the 1947 American economy has the following input-outputmatrix:AgricultureManufacturingHouseholdsAgriculture Manufacturing0.2450.0990.4330.1020.2910.372Households0.0510.2790.0113.1Suppose the demand matrix (in billions of dollars) is D = 33.233.1Find the amount of each commodity that should be produced

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Answered: A simplified version of Leontief's…

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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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. Cars Revenue Company (1,000s) ($ millions) Company A 11.5 120 Company B 10.0 137 Company C 9.0 102 Company D 5.5 39 Company E 4.2 40 Company F 3.3 30 (a) Develop a scatter diagram with the number of cars in service as the independent variable. 160 T 160- 1601 140 140 140 120- E 120- 120- 100 100 100- 80 80 80 CO 60 60 60 40 40 40 20 20 20- 6 8 10 12 14 4 6 8 10 12 14 Cars in Service (1,000s). ● 4 6 8 10 12 14 Cars in Service (1,000) 4 Cars in Service (1,000) Ⓡ 0 4 6 8 10 14 O Cars in Service (1,000) (b) What does the scatter diagram developed in part (a) indicate about the relationship between the two variables? O There…
This exercise requires the use of technology.Four sectors of the U.S. economy are (1) livestock and livestock products, (2) other agricultural products, (3) forestry and fishery products, and (4) agricultural, forestry, and fishery services. Suppose that in 1977 the input-output table involving these four sectors was as follows (all figures are in millions of dollars).Determine how these four sectors would react to an increase in demand for livestock (Sector 1) of $1,000 million, how they would react to an increase in demand for other agricultural products (Sector 2) of $1,000 million, and so on. (Round your answers to two decimal places. Let the columns of the matrix be given in millions of dollars.) To 1 2 3 4 From 1 11,937 9 109 855 2 26,649 4,285 0 4,744 3 0 0 439 61 4 5,423 10,952 3,002 216 Total Output 97,795 120,594 14,642 47,473
ABC Corporation is considering three options for managing its data processing operation: continuing with its own staff, hiring an outside vendor to do the management (referred to as outsourcing), or using a combination of its own staff and an outside vendor. The profit of the operations depends on future demand. The annual profit of each option (in thousands of dollars) and for each state of demand is summarized in the following table: Staffing Options Own Staff Outside Vendor Combination High 650 900 800 Demand Medium 650 600 650 Low 600 300 400 1. If the manager of ABC Corporation is optimistic, which staffing option will he/she choose? 2. If the manager of ABC Corporation is conservative, which staffing option will he/she choose? 3. Suppose the probabilities of high, medium, and low demand are 40%, 10% and 50%, respectively. Using the expected value approach, which staffing option should the manager choose? 4. What is the expected value of perfect information?
The company has data on demand and factory capacity for the next 4 months as in the table. Unit cost with regular time $ 24, overtime cost $ 28, on subcontract $ 34. Storage costs $ 2 per unit per month; backorders cost $ 5 per unit per month. Initial inventory is as many as 120 units, and it is expected that by the end of July there will be an inventory of 100 units. April May June July Demand 460 450 480 480 Regular Capacity 370 370 380 380 Overtime Capacity 60 60 60 60 Subcontract Capacity 30 30 30 30 Use the transportation method to optimize the aggregate plan. Determine the production cost each month and the total cost for 4 months
A simplified version of input-output analysis of a national economy has the following input-output matrix: Agriculture Manufacturing Households 0.245 0.051 0.099 0.279 0.433 0.011 A. Agriculture Manufacturing Households 0.102 0.291 0.372 units of Manufacturing are need to produce one unit of Households B. Given Demand (in billions of dollars) for the three sectors are as follows 32.6 = Manufacturing, 3.5-Agriculture 31.8-Households Find the amount of each commodity that should be produced (nearest 0.1 billion) = Agriculture - Manufacturing Households C. If the external demand of Households raises by $1 billion then manufacturing production needs to increase by $ billion (nearest 0.01) in order to meet that increase in household external demand
The idea of a large, stable middle class (defined as those with annual household incomes in 2010 between $39, 000 and $118, 000 for a family of three) is central to America’s sense of itself. The following table gives the percentage of middle-income adults in the United States from 1971 through 2011: Year 1971 1981 1991 2001 2011 Percent 61 59 56 54 51 A mathematical model giving the percentage of middle-class adults in the United States for the period under consideration is given by f(t) = −2.5t = 61.2 (0 ≤ t ≤ 4) where t is measured in decades, with t = 0 corresponding to 1971. (a) Plot the data points, and sketch the graph of f the function on the same set of axes.(b) What is the rate of change of the percentage of middle-income adults in the United States over the period from 1971 to 2011? (c) Assuming that the trend continues, what will the percentage of middle-income adults in the United States be in 2021?
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. Cars Revenue Company (1,000s) ($ millions) Company A 11.5 120 Company B 10.0 133 Company C 9.0 102 Company D 5.5 37 Company E 4.2 42 Company F 3.3 34 (a) Develop a scatter diagram with the number of cars in service as the independent variable. 160T 160T 160 160- 140- 140 140 140 120 120 120 120- 100 100 100 100- 80 80 80 80 60 60 60 60 .. . 40 40 .. 40 40 20 20 20 20 4 6 8 10 12 14 2 4 8 10 12 14 2 4 6 8 10 12 14 2 4 6 8 10 12 14 Cars in Service (1,000s) Cars in Service (1,000s) Cars in Service (1,000s) Cars in Service (1,000s) (b) What does the scatter diagram developed in part (a) indicate about the relationship between…
A manufacturing company makes two types of water skis, a trick ski and a slalom ski. The relevant manufacturing data are given in the table. Labor-Hours per Ski Maximum Labor-Hours Available per Day Department Fabricating Finishing Answer parts (A), (B), and (C) below. Trick Ski 6 1 Slalom Ski 4 1 (A) If the profit on a trick ski is $30 and the profit on a slalom ski is $40, how many of each type of ski should be manufactured each day to realize a maximum profit? What is the maximum profit? The maximum profit is $ The maximum occurs when trick skis and 216 42 slalom skis are produced.
Find the production schedule for the technology matrix and demand vector given below:
A local firm is planning its workforce and production levels over the next year. The firm makes a variety of microprocessors and uses sales dollars as its aggregate production unit. Based on orders received and sales forecasts provided by the marketing department, the estimate of dollar sales for the next year by month is as follows: Month Production Days Predicted Demand(in $10,000) Month Production Days Predicted Demand(in $10,000) January 20 595 July 20 410 February 19 225 August 21 130 March 22 565 September 19 405 April 18 205 October 23 315 May 21 230 November 21 355 June 22 120 December 18 350 Inventory holding costs are based on a 25% annual interest charge. It is anticipated that there will be 675 workers on the payroll at the end of the current year and inventories will amount to $120,000. The firm would like to have at least $100,000 of inventory at the end of December…
Find the production schedule for the technology matrix and demand vector given below: 0.1 0.3 0.4 4 A = 0.1 0.2 0.4 D = 5 %3D 0.1 0.1 3 X =
An entrepreneur who owns and operates two businesses (A and B) would like to analyze their profitability. They would like your help in the analysis. They give you the annual net profit (in thousands of $) for each business from 2008-2020. Table 1: Annual Net Profits for Businesses A and B Business Year Profit Business Year Profit 2008 -50 2008 -10 2009 57 2009 30 2010 71 2010 27 2011 64 2011 22 2012 60 2012 21 2013 50 2013 20 A 2014 41 2014 24 2015 59 2015 24 2016 71 2016 32 2017 71 2017 36 2018 74 2018 37 019 81 20 40 2020 97 2020 49 a. Suppose you want to graph the distribution of profits. Explain why using only one stem- plot might not be optimal for the analysis. b. Describe the correct stemplot to use. Generate this stemplot. Explain your steps. What can you say about the distribution from this stemplot? c. When are stemplots useful? And why is that? d. Suppose that instead of having 26 observations you have 200 observations. What graph should you generate? e. What other type of…

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