Many manufacturing situations, for example, the production of such large and complex items as aircraft or machines, exhibit a learning effect in which the production time per unit decreases asmore units are produced. This is often modeled by a power curve, y = ax , where a and b are constants. Suppose that the accompanying data on production times for the first ten units producedwere collected from a new project at Glasgow Machine Tool. Develop a model for estimating the power curve to minimize the sum of the squared deviations of the errors. Use nonlinearoptimization to find the parameters.Click the icon to view the production times data.The model is y=(x-D(Round to two decimal places as needed.)Get more helpProduction Times DataUnit Production Hours12345678910Print3,211.002,720.002,615.002,278.002,028.002,193.002,249.002,268.001,994.002,000.00DoneX[]Clear allCheck answer

Let x=Unit and y=Production hours x y 1 3211 2 2720 3 2615 4 2278 5 2028 6 2193 7…

Answered: Many manufacturing situations, for…

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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We want to understand the relationship between sales growth rates (s) and project FCF growth rates (g). This is useful to think about, because in our spreadsheet models we often need an estimate of g but when we look for analyst forecasts, they often just apply to s. We consider a hypothetical firm in which there are Sales, COGS, Depreciation, Taxes, ONWC, and CAPEX occurring each year. You know that sales growth is constant and equals s. You further know that in any given year, COGS/Sales-c, the tax rate is p, the ratio of ONWC to Sales is n, and CAPEX-Depreciation, and Depreciation/Sales-d. s, c, p, n, and d are constants (i.e., fixed parameters that don't change over time). Perform an algebraic series of calculations. Start with FCF = (Sales - COGS - DA - Taxes - etc). Simplify the expression until it is in the form Sales. *((1-c-d)(1-p)-s/(1+s)*n).
In economics we are often faced with causal problems where the endogeneity arises because of simultaneity. A classic example is that if you are interested in estimating a demand curve, the issue is what you observe in the data are equli- birum and prices and quantity which is not only a function of demand but also a function of supply. In this excercise we will generalize the problem of simultaneity bias. Consider a situation where we are interested in the effect of Ti on Yi, i.e. obtaining a consistent estimate of α. But Yi also effects Ti. Let Xi be some exogenous covariates affecting both Yi and Ti. Let us imagine you have an exogenous variable Z which only effects Ti but does not directly effect Yi. In particular, consider the following structural equations: Yi = αTi+Xi′β+ui (1) Ti = ρYi+Xi′γ+Ziδ+νi (2) where E(ui | Xi,Zi) = 0 and E(vi | Xi,Zi) = 0 (a) Show why you cannot you use OLS to estimate α consistently in model 1? (b) Solve for the reduced form equation for Ti…
What does February 2020’s actual grocery store sales value tell us about the strength of this model to extend past the ten years covered in the scatterplot?
What is the solution and correct answer to the given question?
Fiske Corporation manufactures a popular regional brand of kitchen utensils. The design and variety has been fairly constant over the last three years. The managers at Fiske are planning for some changes in the product line next year, but first they want to understand better the relation between activity and factory costs as experienced with the current products. Discussions with the plant supervisor suggest that overhead seems to vary with labor-hours, machine-hours, or both. The following data were collected from last three year's operations: Quarter Machine-Hours 18,850 4 5 6 7 8 9 10 11 12 18,590 17,480 19,240 21,280 19,630 19,240 18,850 18,460 20,670 17,550 18,460 Labor-Hours 15,605 15,484 16,727 15,990 17,508 17,376 15,297 14,373 16,001 17,002 14,285 17,651 Factory costs $ 3,395,671 3,425,836 3,617,844 3,573,940 3,812,984 3,778,012 3,532,426 3,369,802 3,513, 187 3,731,434 3,325,615 3,724,486 Required: Prepare a scatter graph based on the factory cost and labor-hour data. Note: 1.…
Help with the last two questions... can't come up with an answer
Suppose you are the marketing manager of a firm, and you plan to introduce a new product to the market. You have to estimate the first year net profit, which depends on several variables • Sales volume (in units) • Price per unit • Unit cost . Fixed costs Your net profit is net profit = sales volume x (price per unit-unit cost) - fixed cost The fixed cost is $120, 000, but other factors have some uncertainty. Based on your market research, there are equal chance that the market will be slow, ok, or hot. • Slow market the sales volume follows Poisson distribution with mean 50,000 units product, and the average price per unit is $11.00 ● Ok market the sales volume follows Poisson distribution with mean 75,000 units product, the average price per unit is $10.00 Hot market: the sales volume follows Poisson distribution with mean 100,000 units product, but the competition is severe so you expect the average price per unit is just $8.00 No matter what the market type is, your average unit…
The Harriet Hotel in downtown Boston has 100 rooms that rent for $150 per night. It costs the hotel $30 per room in variable costs (cleaning, bathroom items, etc.) each night a room is occupied. For each reservation accepted, there is a 5% chance that the guest will not arrive. If the hotel overbooks, it costs $200 to compensate guests whose reservations cannot be honored. How many reservations should the hotel accept if it wants to maximize the average daily profit?
You have started a new project and you are trying to figure out the learning curve for the manufacturing of the product. The first unit took 20 hours to complete, the second unit took 16 hours to complete, and the third unit took 12.8 hours to complete. Using the learning curve equation, answer the following questions below. a. What is the learning rate for the technician? b. What would be the production time for the 18th unit? c. If the 20th unit took 5 hours to complete, how long would the first unit take?
Walmart has become the largest supermarket in America, and as Walmart grows, its net sales also increase. The table below shows Walmart's Net Sales data per quarter from 2015 to 2021. Using this data help Walmart to forecast (using solver excel step by step): • Make a forecast for the next period with the Moving Average method n: 5 • Make a forecast for the next period with the Weighted Moving Average method, 0,1; 0,3 ; 0,2; 0,4 • How much is the change in net sales per quarter? • Using liner trend method how much Net Sales in 2025 Quarter 2? Periods Net Sales 2015 Quarter 1 $ 115.000.000,002015 Quarter 2 $ 120.000.000,002015 Quarter 3 $ 117.000.000,002015 Quarter 4 $ 130.000.000,002016 Quarter 1 $ 116.000.000,002016 Quarter 2 $ 121.000.000,002016 Quarter 3 $ 118.000.000,002016 Quarter 4 $ 131.000.000,002017 Quarter 1 $ 118.000.000,002017 Quarter 2 $ 123.000.000,002017 Quarter 3 $ 123.000.000,002017 Quarter 4 $ 136.000.000,002018 Quarter 1 $ 123.000.000,002018 Quarter 2 $…
What does February 2020’s actual warehouse club sales value tell us about the strength of this model to extend past the ten years covered in the scatterplot?
A local high school makes a change that should improve student satisfaction with the parking situation. Before the change, 37% of the school's students approved of the parking that was provided. After the change, the principal surveys an SRS of 200 from the more than 2500 students at the school. In all, 83 students say that they approve of the new parking arrangement. The principal cites this as evidence that the change was effective. Which of the following is not true regarding Type I and Type II errors in this setting? O A Type I error occurs if you find convincing evidence that more than 37% of students were satisfied with the new parking arrangement, when in reality only 37% were satisfied. O A Type Il error occurs if you do not find convincing evidence that more than 37% are satisfied with the new parking arrangement, when in reality more than 37% are satisfied. O A possible consequence of a Type I error is the principal believes that students are satisfied and takes no further…

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