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- Q1. Hotel manager Mr. Smith and his resourceful assistant, John, run a 26-room hotel in a little town. A combination of Mr. Smith's friendly attitude and the absence of a respectable hotel in the nearby vicinity imply that Mr. Smith enjoys sufficient demand at his low fare of $159 per night. John notes that some customers will walk into the hotel requesting a room for that evening and they are willing to pay a high fare of $325 per night. John knows this demand is variable. (In reality, this demand is U(4,9)) He suggests some rooms should be kept unsold to the low-fare customers so that they can serve the high-fare customers. a) To maximize profits with John's plan, what is the booking limit that should be set for low fare customers? b) Mr Smith does not like the idea of John and says “we will sell to everyone who reserves in advance and ignore the walk-in demand." If Mr Smith has his way, what will be the hotel's expected revenue? C) John replies, "If you are going to forgo the…QUESTION 3a. Delightful Coffee Limited (DCLL) purchases coffee from Hopeful Harvest Plantations (HHP)in Santa Cruz, Trinidad. HHP sells coffee at four (4) different prices, depending on the size ofthe order, as shown in Table 3 (below):Table 3. Hopeful Harvest Plantations - Coffee pricesWeight of Coffee Price ($USD)Less than 45 kilograms $18 per kilogram45 to 449 kilograms $17 per kilogram,450 to 1000 kilograms $16 per kilogramMore than 1000 kilograms $15 per kilogramThe cost to place an order at DCLL is $50. Annual demand is 4,500 units. The holding (orcarrying) cost is 20 percent of the material price. (iii) What is the economic order quantity that DCLL should buy each time? Please answer the above questionQ17 Interpret the correct definition of “practicable" according to OSHA 1994. I. II. Practical having regard to the severity of the hazard or risk in question. Practical having regard to the state of knowledge about the hazard or risk and any way of removing or mitigating the hazard or risk. Practical having regard to the availability and suitability of ways to remove or mitigate the hazard or risk. Practical having regard to the cost of removing or mitigating the hazard or risk. III. IV. (a) I, II and III. (b) П, II and IV. (c) I, III and IV. (d) I, II, Ш and IV.
- QUESTION TWO (2) DUNA INCORPORATED is a business conglomerate that produces a variety of beverages (alcoholic and non-alcoholic], Food products (Noodles and Canned Foods) and Personal Care Items. They had been operating in the Nigerian Market for five (5) years and a study conducted by their Research and Development division observed the Nigerian market as vast with great but unequal opportunities. They are therefore in a quandary over which aspects of their business to keep, restructure, sell or invest more in. Using your knowledge of marketing strategy, advise DUNA INCORPORATED on the most appropriate course(s) of action and the implications of any such actions.Q1. An LMN sugar mill company, department stores wish to purchase 10,000 handbags of which 2,000 are of style A, 2,000 are of style B, 3,000 of style C and 3,000 are of style D. Four manufacturers P, Q, R and S bid to supply not more than the following quantities, all styles combined. P= 1,500, Q = 2,600, R = 3,500 and S = 3,000. The following table gives the cost per handbag of each style of the bidders in RO. per handbag: Style Manufacturers P Q R S A 9 12 10 8 B 10 11 9 7 C 8 10 7 10 D 10 9 9 8 Use the transportation model to determine how should orders to be placed by the department store to minimize the total cost? Compare transportation cost by both models(NWCR and LCM)A.3 Yellowburn University, a not-for-profit higher education organization, has the following mission statement: ‘We aim to deliver excellent tuition in state-of-the-art facilities to help develop socially responsible students and to contribute to global academic research.’ Which TWO of the following would be appropriate objectives to fit in with this mission? To deliver the best possible lessons. Each member of staff is to write two research papers for publication over the next two years. To increase car parking space at the university by 10% in the next 12 months to improve access. To get 15% of all students to receive first class honors degrees each year. To ensure 100% attendance from all students for every lecture.
- Question THREE: Suppose you are given a set of data for output at a company which manufactures detergents over a period of time. You have determined a relation between total operating cost and the quantity produced and is given by the linear regression model as follows: TC=20,000+2,500Q, where TC=Total Operating Cost (in $) per annum and Q = Quantity produced per annum Required: i. Determine the total operating cost in the event that quantity of production is at 4,500, 12,500 and 7,000units. ii. What do you think would be your reservations in relaying on the linear regression model for budgetary planning purposes?SUBJECT: Fundamentals of Business Analytics How does analytics be useful in the sector of: A. TourismB. AgricultureC. EconomicsQ.2 AI Muhannad Industrial and Domestic Services, Oman requires on average 4000 sheets of A4 size papers per day at its different office locations in Muscat. Each time the purchase manager orders centrally the A4 size papers, the total expenses incurred to the company are estimated to be 10.6 OMR per order. Presently the company orders 350 reams of papers per order at a flat rate of 2.1 OMR per ream (one ream contains 500 A4 size papers). It takes almost a day for the local supplier to deliver the order. Considering the overall cost of the inventory and the manpower involved, the annual carrying costs for the company is estimated to be 35% of the cost for each ream of the paper. The company operates on 5 days a week over 46 weeks per year. (i) Is the present purchase policy economical for the company? If not, guide the purchase manager in selecting the best economical policy in terms of expected number of orders annually, ordered quantity per order, reorder point and the expected time…
- Subject Name: Simulation & Modelling Q. Describe the following : • Simulation of a Multi-server queueing system • Simulation of an inventory systemQ1. General Appliance Corp. produces refrigerators at three plants: Marietta, Minneapolis and Phoenix. They ship them to major retail outlets in Chicago, Los Angeles and New York City. The accounting, production and marketing departments have provided the following information in the given tables; Plant capacities over the next planning period, retail outlet demand and unit cost of shipping between any plant and retail outlet. The company would like to minimize the cost of their transportation network by identifying how many units to ship between each plant and retail outlet. 1. Formulate this linear optimization problem by clearly listing the decision variables, objective function and constraints. 2. Create a spreadsheet model for this problem and solve it using Solver. What is the minimum cost? Plant Supply Marietta 1200 Minneapolis 800 Phoenix 1600 Retail Outlet Demand Chicago 650 Los Angeles 1450 New York City 1500…#1 handwritten
