Concept explainers
Advertising A small town has two competing grocery stores, store
Use linear programming and a geometric approach to find optimal strategies for store
Want to see the full answer?
Check out a sample textbook solutionChapter 11 Solutions
Finite Mathematics for Business, Economics, Life Sciences and Social Sciences
Additional Math Textbook Solutions
Mathematics with Applications In the Management, Natural, and Social Sciences (12th Edition)
Using & Understanding Mathematics: A Quantitative Reasoning Approach (7th Edition)
Probability and Statistics for Engineers and Scientists
Calculus for Business, Economics, Life Sciences, and Social Sciences (13th Edition)
Calculus Volume 2
Thinking Mathematically (6th Edition)
- Profit: At a local store, the numbers of gallons of skim milk, 2% milk, and whole milk sold over the weekend are represented by A. Skim2%WholemilkmilkmilkA=406452608276769684FridaySaturdaySunday The selling prices per gallon and the profits per gallon for the three types of milk are represented by B. SellingProfitProfitB=$3.45$1.20$3.65$1.30$3.85$1.45Skimmilk2%milkWholemilk (a) Compute AB and interpret the result. (b) Find the store’s total profit from the milk sales for the weekend.arrow_forwardThe Alpha club and the beta club perform service work for the Salvation Army, the Boy's Club, and the Girl Scouts. The Alpha Club performs 50 hours at the Salvation Army, 85 hours at the Boys' Club, and 68 hours for the Girl Scouts. The Beta Club performs 65 hours at the Salvation Army, 32 hours at the Boys' Club, and 94 hours for the Girl Scouts. Tabulate the given data.a. Represent your table as matrix M, a 2 x 3 matrix.b. Determine the Transpose of your answer in a.arrow_forwardThe owner of a chain of mini-markets wants to compare the sales performance of two of her stores, Store 1 and Store 2. Sales can vary considerably depending on the day of the week and the season of the year, so she decides to eliminate such effects by making sure to record each store's sales on the same 12 days, chosen at random. She records the sales (in dollars) for each store on these days, as shown in the table below. 5 6 7 Day Store 1 Store 2 1 Difference (Store 1 - Store 2) Send data to calculator ✓ 2 3 786 878 827 645 708 500 699 140 Yes No 4 646 802 712 579 527 367 76 115 66 181 133 8 (a) State the null hypothesis H and the alternative hypothesis H₁. H:D H₁:0 (b) Determine the type of test statistic to use. Type of test statistic: (Choose one) ▼ 970 9 10 11 12 618 679 762 635 271 572 324 215 698 530 Based on these data, can the owner conclude, at the 0.05 level of significance, that the mean daily sales of the two stores differ? Answer this question by performing a hypothesis…arrow_forward
- The percentage of individual investors’ portfolios committed to stock depends on the state of the economy. As of April 2014, a typical portfolio consisted of cash (19%), stocks (30%), stock funds (37%), bonds (8%) and bond funds (6%). The following table reports the percentage of stocks in a typical portfolio in eight quarters of 2012 to 2013. Year Quarters Stock % 2012 1 29.8 2 31 3 29.9 4 30.1 2013 1 32.2 2 31.5 3 32 4 31.9 Calculate the centered 4 quarter moving average for the first quarter of 2013 (rounded to 4 decimals). A. 32.2103 B. 31.1875 C. 30.9251 D. 31.4523arrow_forwardA corporation has four factories, each of which manufactures sport utility vehicles and pickup trucks. In the matrixaij represents the number of vehicles of type i produced at factory j in one day. Find the production levels when production increases by 10%.arrow_forwardE/Solve the following payoff matrix to find the best strategies and the value of game: B1 B2 8 5 2 AI 1 42 3 A3 10 یاarrow_forward
- After providing its sales force with Super Duper Sales Training in January 2020, the XYZ company wants to explore whether sales revenue increased in 2020. Therefore, it compared its 2020 sales revenue to its 2019 sales revenue. What is the dependent variable? a. year b. the sales people c. the XYZ company d. sales training e. sales revenuearrow_forwardConsider two products, A and B, both of which have the same purchase probability.Product A has a population size of 1000 and a 50 percent awareness probability. ProductB has a population size of 10,000 and a 5 percent awareness probability. Which productdo you expect to sell more?a. Product Ab. Product Bc. They are expected to sell the same amount.arrow_forwardBargain Rental Car offers rental cars in an off-airport location near a major tourist destination in California. Management would like to better understand the variable and fixed portions of its car washing costs. The company operates its own car wash facility in which each rental car that is returned is thoroughly cleaned before being released for rental to another customer. Management believes that the variable portion of its car washing costs relates to the number of rental returns. Accordingly, the following data have been compiled: Month Rental Returns Car Wash Costs January 2,400 $ 11,300 February 2,500 $ 13,300 March 2,800 $ 12,100 April 3,100 $ 14,700 May 3,700 $ 16,500 June 5,100 $ 23,900 July 5,600 $ 22,500 August 5,600 $ 22,900 September 4,700 $ 23,100 October 4,100 $ 22,000 November 2,200 $ 11,000 December 2,900 $ 15,300 2. Using least-squares regression, estimate the variable cost per rental return and the monthly fixed cost incurred to wash cars. (Round Fixed cost to the…arrow_forward
- For this item, complete the choice matrix by clicking the appropriate answer in each row. The table shows the results from a random survey asking participants their age and current systolic blood pressure. Age (years) Systolic Blood 24 26 30 34 36 45 50 55 108 104 132 119 128 140 135 146 Pressure If a student correctly makes a scatter plot of the data from the survey, determine whether each statement is true or false. True False There are no outliers in the data. There is a positive association in the data. There is a nonlinear association in the data. A Calculator Chp esc % 3. W earrow_forwardThe percentage of individual investors’ portfolios committed to stock depends on the state of the economy. As of April 2014, a typical portfolio consisted of cash (19%), stocks (30%), stock funds (37%), bonds (8%) and bond funds (6%). The following table reports the percentage of stocks in a typical portfolio in eight quarters of 2012 to 2013. Year Quarters Stock % 2012 1 29.8 2012 2 31 2012 3 29.9 2012 4 30.1 2013 1 32.2 2013 2 31.5 2013 3 32 2013 4 31.9 In the first quarter of 2013 the seasonal index of approximately………………. means that values of the time series are …………… by the presence of seasonal forces. A. 100.8416, depressed B. 96.8555, stimulated C. 99.1586, depressed D. 103.2465, stimulatedarrow_forwardA 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.arrow_forward
- Algebra & Trigonometry with Analytic GeometryAlgebraISBN:9781133382119Author:SwokowskiPublisher:CengageCollege AlgebraAlgebraISBN:9781305115545Author:James Stewart, Lothar Redlin, Saleem WatsonPublisher:Cengage Learning