EP BUSINESS STATISTICS:FIRST COURSE-ACC
8th Edition
ISBN: 9780135179802
Author: Levine
Publisher: PEARSON CO
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Glueco produces three types of glue on two differentproduction lines. Each line can be utilized by up to sevenworkers at a time. Workers are paid $500 per week onproduction line 1, and $900 per week on production line 2.A week of production costs $1,000 to set up production line1 and $2,000 to set up production line 2. During a week ona production line, each worker produces the number of unitsof glue shown in Table 12. Each week, at least 120 units ofglue 1, at least 150 units of glue 2, and at least 200 units ofglue 3 must be produced. Formulate an IP to minimize thetotal cost of meeting weekly demands.
A college bookstore must order books two months before each semester starts. They believe that the number of books that will ultimately be sold for any particular course is related to the number of students registered for the course when the books are ordered. They would like to develop a bestfitting line to predict how many books to order. From past records, the bookstore obtains the number of students registered, X, and the number of books actually sold for a course, Y , for 12 different semesters.A scatterplot of the data along with the best fitting line is presented below.
a. The correlation between the two variables is r = .89. Calculate and interpret the value of r2.b. The equation for the best fitting line is Y = 9.30 + 0.673X. Explain and interpret the value of 9.30.c. How many books should the store order for a class of 50 students? Would you trust this prediction?
Robots for you, Inc. manufactures robots that help with household tasks.
Their fixed costs associated with production of their robot model CJU589 amount to $5192 per month.
Labor and materials for each robot model CJU589 are $46 per unit, and the company sells the robot model
CJU589 to resellers for $68 per unit.
Let a denote the number of units of robot model CJU589 produced and sold by Robots for you, Inc. on a
given month. Determine:
a) the corresponding monthly total costs C(x) =
b) the corresponding monthly total revenue R(x) =
=
c) the corresponding monthly total profit P(x) =
d) the number of units of robot model CJU589 that Robots for you, Inc. needs to produce and sell in order
to make a profit: $
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