Essentials of Business Analytics (MindTap Course List)
2nd Edition
ISBN: 9781305627734
Author: Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Publisher: Cengage Learning
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Textbook Question
Chapter 13, Problem 6P
Heller Manufacturing has two production facilities that manufacture baseball gloves. Production costs at the two facilities differ because of varying labor rates, local property taxes, type of equipment, capacity, and so on. The Dayton plant has weekly costs that can be expressed as a
where X is the weekly production volume in thousands of units, and TCD(X) is the cost in thousands of dollars. The Hamilton plant’s weekly production costs are given by:
where Y is the weekly production volume in thousands of units, and TCH(Y) is the cost in thousands of dollars. Heller Manufacturing would like to produce 8,000 gloves per week at the lowest possible cost.
- a. Formulate a mathematical model that can be used to determine the optimal number of gloves to produce each week at each facility.
- b. Solve the optimization model to determine the optimal number of gloves to produce at each facility.
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Reconsider the patient satisfaction data in Table 1. Fit a multiple regression model using both patient age and
severity as the regressors.
(a) Test for significance of regression.
(b) Test for the individual contribution of the two regressors. Are both regressor variables needed in the model?
(c) Has adding severity to the model improved the quality of the model fit? Explain your answer.
The output voltage of a power supply is assumed to be normally distributed. Sixteen observations taken at
random on voltage are as follows: 10.35, 9.30, 10.00, 9.96, 11.65, 12.00, 11.25, 9.58, 11.54, 9.95, 10.28, 8.37,
10.44, 9.25, 9.38, and 10.85.
(a) Test the hypothesis that the mean voltage equals 12 V against a two-sided alternative using a = 0.05.
(b) Construct a 95% two-sided confidence interval on μ.
(c) Test the hypothesis that σ² = 11 using α = 0.05.
(d) Construct a 95% two-sided confidence interval on σ.
(e) Construct a 95% upper confidence interval on σ.
(f) Does the assumption of normality seem reasonable for the output voltage?
Analyze the residuals from the regression model on the patient satisfaction data from Exercise 3. Comment on
the adequacy of the regression model.
Chapter 13 Solutions
Essentials of Business Analytics (MindTap Course List)
Ch. 13 - GreenLawns provides a lawn fertilizing and weed...Ch. 13 - The Cobb-Douglas production function is a classic...Ch. 13 - Let S represent the amount of steel produced (in...Ch. 13 - The profit function for two products is:...Ch. 13 - Jims Camera shop sells two high-end cameras, the...Ch. 13 - Heller Manufacturing has two production facilities...Ch. 13 - Andalus Furniture Company has two manufacturing...Ch. 13 - Phillips Inc. produces two distinct products, A...
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