Research Methods for the Behavioral Sciences (MindTap Course List)
Research Methods for the Behavioral Sciences (MindTap Course List)
6th Edition
ISBN: 9781337613316
Author: Frederick J Gravetter, Lori-Ann B. Forzano
Publisher: Cengage Learning
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Chapter 3, Problem 3E

Briefly explain what an operational definition is and why operational definitions are sometimes necessary.

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I need typed work. Not handwritten. A bank has two types of branches. A satellite branch employs 3 people, requires P2,500,000 to construct and open, and generates an average daily revenue of P4,000,000. A full-service branch employs 6 people, requires P5,500,000 to construct and open, and generates an average daily revenue of P7,000,000. The bank has up to P80,000,000 available to open new branches, and has decided to limit the new branches to a maximum of 20 and to hire at most 120 employees. How many branches of each type should the bank open in order to maximize the average daily revenue?   REQUIREMENTS: 1. Formulate the LP Model; 2. Identify the decision variables used in the model; and 3. Determine the optimal solution.
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Research Methods for the Behavioral Sciences (MindTap Course List)

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