Finite Mathematics
7th Edition
ISBN: 9781337515542
Author: Waner
Publisher: Cengage
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Textbook Question
Chapter 5.2, Problem 44E
Investments: High-Dividend Stocks (Compare Exercise 42 in Section 6.1.) During the first quarter of 2015, Plains All American Pipeline L.P. (PAA) stock cost $50 per share, was expected to yield 5% per year in dividends, and had a risk index of 2.0, while Total SA (TOT) stock cost $50 per share, was expected to yield 6% per year in dividends, and had a risk index of 3.0.20 You have up to $45,000 to invest in these stocks and would like to earn at least $2,400 in dividends over the course of a year. (Assume the dividend to be unchanged for the year.) How many shares of each stock should you purchase to meet your requirements and minimize the total risk index for your portfolio? What is the minimum total risk index?
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In preparing for the upcoming holiday season, Fresh Toy Company (FTC) designed a new doll called The Dougie that teaches children how to dance. The fixed cost to produce the doll is $100,000. The variable cost, which includes material, labor, and shipping costs, is $31 per doll. During the holiday
selling season, FTC will sell the dolls for $39 each. If FTC overproduces the dolls, the excess dolls will be sold in January through a distributor who has agreed to pay FTC $10 per doll. Demand for new toys during the holiday selling season is extremely uncertain. Forecasts are for expected sales of
60,000 dolls with a standard deviation of 15,000. The normal probability distribution is assumed to be a good description of the demand. FTC has tentatively decided to produce 60,000 units (the same as average demand), but it wants to conduct an analysis regarding this production quantity before
finalizing the decision.
(a) Determine the equation for computing FTC's profit for given values of the…
To generate leads for new business, Gustin Investment Services offers free financial planning seminars at major hotels in Southwest Florida. Gustin conducts seminars for groups of 25 individuals. Each seminar costs Gustin $3,700, and the average first-year commission for each new account opened is
$5,200. Gustin estimates that for each individual attending the seminar, there is a 0.01 probability that individual will open a new account.
(a) Determine the equation for computing Gustin's profit per seminar, given values of the relevant parameters.
Profit = (3,700 x 5,200) - New Accounts Opened
Profit = 5,200 - (New Accounts Opened x 3,700)
Profit = (New Accounts Opened x 3,700) - 5,200
Profit = New Accounts Opened - (5,200 × 3,700)
Profit = (New Accounts Opened x 5,200) - 3,700
(b) What type of random variable is the number of new accounts opened? Hint: Review Appendix 12.1 for descriptions of various types of probability distributions.
continuous
integer uniform
normal
discrete uniform…
Strassel Investors buys real estate, develops it, and resells it for a profit. A new property is available, and Bud Strassel, the president and owner of Strassel Investors, believes if he purchases and develops this property, it can then be sold for $158,000. The current property owner has asked for bids
and stated that the property will be sold for the highest bid in excess of $100,000. Two competitors will be submitting bids for the property. Strassel does not know what the competitors will bid, but he assumes for planning purposes that the amount bid by each competitor will be uniformly distributed
between $100,000 and $148,000.
(a) What is the estimate of the probability Strassel will be able to obtain the property using a bid of $128,000? (Use at least 5,000 trials. Round your answer three decimal places.)
(b) How much does Strassel need to bid to be assured of obtaining the property?
$128,000
$138,000
$148,000
(c) Use the simulation model to compute the profit for each trial of…
Chapter 5 Solutions
Finite Mathematics
Ch. 5.1 - In Exercises 1-26, sketch the region that...Ch. 5.1 - In Exercises 1-26, sketch the region that...Ch. 5.1 - In Exercises 1-26, sketch the region that...Ch. 5.1 - In Exercises 1-26, sketch the region that...Ch. 5.1 - In Exercises 1-26, sketch the region that...Ch. 5.1 - Prob. 6ECh. 5.1 - In Exercises 1-26, sketch the region that...Ch. 5.1 - In Exercises 1-26, sketch the region that...Ch. 5.1 - Prob. 9ECh. 5.1 - In Exercises 1-26, sketch the region that...
Ch. 5.1 - In Exercises 1-26, sketch the region that...Ch. 5.1 - In Exercises 1-26, sketch the region that...Ch. 5.1 - In Exercises 1-26, sketch the region that...Ch. 5.1 - Prob. 14ECh. 5.1 - In Exercises 1-26, sketch the region that...Ch. 5.1 - In Exercises 1-26, sketch the region that...Ch. 5.1 - In Exercises 1-26, sketch the region that...Ch. 5.1 - In Exercises 1-26, sketch the region that...Ch. 5.1 - In Exercises 1-26, sketch the region that...Ch. 5.1 - In Exercises 1-26, sketch the region that...Ch. 5.1 - Prob. 21ECh. 5.1 - Prob. 22ECh. 5.1 - Prob. 23ECh. 5.1 - In Exercises 1-26, sketch the region that...Ch. 5.1 - In Exercises 1-26, sketch the region that...Ch. 5.1 - In Exercises 1-26, sketch the region that...Ch. 5.1 - Prob. 27ECh. 5.1 - In Exercises 27-32, we suggest that you use...Ch. 5.1 - Prob. 29ECh. 5.1 - In Exercises 27-32, we suggest that you use...Ch. 5.1 - Prob. 31ECh. 5.1 - In Exercises 27-32, we suggest that you use...Ch. 5.1 - Resource Allocation You manage an ice cream...Ch. 5.1 - Resource Allocation Podunk Institute of Technologs...Ch. 5.1 - Nutrition, Ruff, Inc. makes dog food out of...Ch. 5.1 - Purchasing Enormous State Universitys Business...Ch. 5.1 - Nutrition Gerber Products Gerber Mixed Cereal for...Ch. 5.1 - Prob. 38ECh. 5.1 - Municipal Bond Funds The Pioneer Investment...Ch. 5.1 - Mutual Funds In 2015, the Phoenix/Zweig Advisors...Ch. 5.1 - Investments: Financial Stocks (Compare Exercise 51...Ch. 5.1 - Revenue The following spreadsheet gives annual...Ch. 5.1 - Prob. 43ECh. 5.1 - Prob. 44ECh. 5.1 - Prob. 45ECh. 5.1 - Prob. 46ECh. 5.1 - Prob. 47ECh. 5.1 - Prob. 48ECh. 5.1 - Prob. 49ECh. 5.1 - Prob. 50ECh. 5.1 - In Exercises 51-54, you are mixing x grams of...Ch. 5.1 - In Exercises 51-54, you are mixing x grams of...Ch. 5.1 - In Exercises 51-54, you are mixing x grams of...Ch. 5.1 - Prob. 54ECh. 5.1 - Prob. 55ECh. 5.1 - Prob. 56ECh. 5.1 - Prob. 57ECh. 5.1 - Prob. 58ECh. 5.2 - Exercises 1-24, solve the given LP problem. If no...Ch. 5.2 - Exercises 1-24, solve the given LP problem. If no...Ch. 5.2 - Exercises 1-24, solve the given LP problem. If no...Ch. 5.2 - Exercises 1-24, solve the given LP problem. If no...Ch. 5.2 - Exercises 1-24, solve the given LP problem. If no...Ch. 5.2 - Prob. 6ECh. 5.2 - Prob. 7ECh. 5.2 - Exercises 1-24, solve the given LP problem. If no...Ch. 5.2 - Exercises 1-24, solve the given LP problem. If no...Ch. 5.2 - Exercises 1-24, solve the given LP problem. If no...Ch. 5.2 - Prob. 11ECh. 5.2 - Prob. 12ECh. 5.2 - Prob. 13ECh. 5.2 - Exercises 1-24, solve the given LP problem. If no...Ch. 5.2 - Exercises 1-24, solve the given LP problem. If no...Ch. 5.2 - Exercises 1-24, solve the given LP problem. If no...Ch. 5.2 - Prob. 17ECh. 5.2 - Exercises 1-24, solve the given LP problem. If no...Ch. 5.2 - Exercises 1-24, solve the given LP problem. If no...Ch. 5.2 - Exercises 1-24, solve the given LP problem. If no...Ch. 5.2 - Prob. 21ECh. 5.2 - Prob. 22ECh. 5.2 - Prob. 23ECh. 5.2 - Prob. 24ECh. 5.2 - Resource Allocation You manage an ice cream...Ch. 5.2 - Resource Allocation Podunk Institute of...Ch. 5.2 - Nutrition Ruff, Inc. makes dog food out of chicken...Ch. 5.2 - Purchasing Enormous State Universitys Business...Ch. 5.2 - Nutrition Gerber Products Gerber Mixed Cereal for...Ch. 5.2 - Nutrition Gerber Products Gerber Mixed Cereal for...Ch. 5.2 - Energy Efficiency You are thinking of making your...Ch. 5.2 - Energy Efficiency (Compare with Exercise 31). You...Ch. 5.2 - Prob. 33ECh. 5.2 - Bodybuilding Supplements Exercises 33-36 are based...Ch. 5.2 - Bodybuilding Supplements Exercises 33-36 are based...Ch. 5.2 - Bodybuilding Supplements Exercises 33-36 are based...Ch. 5.2 - Resource Allocation Your salami manufacturing...Ch. 5.2 - Project Design The Megabuck Hospital Corporation...Ch. 5.2 - Prob. 39ECh. 5.2 - Television Advertising On Monday evenings in April...Ch. 5.2 - Prob. 41ECh. 5.2 - Prob. 42ECh. 5.2 - Investments: Financial Stocks (Compare Exercise 41...Ch. 5.2 - Investments: High-Dividend Stocks (Compare...Ch. 5.2 - Planning My friends: I, the mighty Brutus, have...Ch. 5.2 - Prob. 46ECh. 5.2 - Prob. 47ECh. 5.2 - Management21 You are the service manager for a...Ch. 5.2 - If a linear programming problem has a bounded,...Ch. 5.2 - If a linear programming problem has an unbounded,...Ch. 5.2 - Prob. 53ECh. 5.2 - Prob. 54ECh. 5.2 - Prob. 55ECh. 5.2 - Prob. 56ECh. 5.2 - Prob. 57ECh. 5.2 - Prob. 58ECh. 5.2 - Prob. 59ECh. 5.2 - Prob. 60ECh. 5.2 - Prob. 61ECh. 5.2 - Prob. 62ECh. 5.2 - You are setting up an LP problem for Fly-by-Night...Ch. 5.2 - Prob. 64ECh. 5.2 - Prob. 65ECh. 5.2 - Prob. 66ECh. 5.3 - Maximize p=2x+y Subject to x+2y6 x+y4 x+y4 x0,y0....Ch. 5.3 - Maximize p=x Subject to xy4 x+3y4 x0,y0. [HINT:...Ch. 5.3 - Maximize p=xy Subject to 5x5y20 2x10y40 x0,y0.Ch. 5.3 - Maximize p=2x+3y Subject to 3x+8y24 6x+4y30 x0,y0.Ch. 5.3 - Maximize p=5x4y+3z Subject to 5x+5z100 5y5z50...Ch. 5.3 - Maximize p=6x+y+3z Subject to 3x+y15 2x+2y+2z20...Ch. 5.3 - Prob. 7ECh. 5.3 - Maximize p=3x+4y+2z Subject to 3x+y+z5 x+2y+z5...Ch. 5.3 - Prob. 9ECh. 5.3 - Maximize z=3x1+4x2+6x3 Subject to 5x1x2+x31,500...Ch. 5.3 - Prob. 11ECh. 5.3 - Prob. 12ECh. 5.3 - Prob. 13ECh. 5.3 - Maximize p=x+2y+z+2w+v Subject to x+y1 y+z2 z+w3...Ch. 5.3 - In Exercises 15-20 we suggest the use of...Ch. 5.3 - In Exercises 15-20 we suggest the use of...Ch. 5.3 - Prob. 17ECh. 5.3 - In Exercises 15-20 we suggest the use of...Ch. 5.3 - Prob. 19ECh. 5.3 - In Exercises 15-20 we suggest the use of...Ch. 5.3 - Purchasing You are in charge of purchases at the...Ch. 5.3 - Prob. 22ECh. 5.3 - Resource Allocation Arctic Juice Company makes...Ch. 5.3 - Purchasing Trans Global Tractor Trailers has...Ch. 5.3 - Resource Allocation The Enormous State University...Ch. 5.3 - Prob. 26ECh. 5.3 - Agriculture Your small farm encompasses 100 acres,...Ch. 5.3 - Agriculture Your farm encompasses 500 acre, and...Ch. 5.3 - Prob. 29ECh. 5.3 - Resource Allocation Repeat Exercise 29, but this...Ch. 5.3 - Prob. 31ECh. 5.3 - Prob. 32ECh. 5.3 - Recycling Safety-Kleen operates the worlds largest...Ch. 5.3 - Recycling Repeat Exercise 33, but this time assume...Ch. 5.3 - Bodybuilding Supplements Exercises 35 and 36 are...Ch. 5.3 - Prob. 36ECh. 5.3 - Investing Exercises 37 and 38 are based on the...Ch. 5.3 - Prob. 38ECh. 5.3 - Prob. 39ECh. 5.3 - Investments You have $100,000 that you are...Ch. 5.3 - Prob. 41ECh. 5.3 - Prob. 42ECh. 5.3 - Prob. 43ECh. 5.3 - Prob. 44ECh. 5.3 - Transportation Scheduling Your publishing company...Ch. 5.3 - Prob. 46ECh. 5.3 - Prob. 47ECh. 5.3 - Prob. 48ECh. 5.3 - Prob. 49ECh. 5.3 - Are there any types of linear programming problems...Ch. 5.3 - Prob. 51ECh. 5.3 - Prob. 52ECh. 5.3 - What is a basic solution? How might one find a...Ch. 5.3 - Prob. 54ECh. 5.3 - Prob. 55ECh. 5.3 - Prob. 56ECh. 5.4 - Maximize p=x+y subject to x+2y6 x+y4 2x+y8 x0,y0...Ch. 5.4 - Maximize p=3x+2y subject to x+3y6 x+y4 2x+y8 x0,y0...Ch. 5.4 - Prob. 3ECh. 5.4 - Maximize p=x+2y subject to x+y25 y10 2xy0 x0,y0.Ch. 5.4 - Maximize p=2x+5y+3z subject to x+y+z150 x+y+z100...Ch. 5.4 - Maximize p=3x+2y+2z subject to x+y+2z38 2x+y+z24...Ch. 5.4 - Maximize p=10x+20y+15z subject to x+2y+z40 2yz10...Ch. 5.4 - Maximize p=10x+10y+15z subject to xy+z12 2x2y+z15...Ch. 5.4 - Prob. 9ECh. 5.4 - Maximize p=x+y+4z+2w subject to x+y+z+w50 2x+yzw10...Ch. 5.4 - Minimize c=6x+6y subject to x+2y20 2x+y20 x0,y0.Ch. 5.4 - Minimize c=3x+2y subject to x+2y20 2x+y10 x0,y0Ch. 5.4 - Prob. 13ECh. 5.4 - Minimize c=2x+2y+3z subject to x+z100 2x+y50 y+z50...Ch. 5.4 - Minimize c=50x+50y+11z subject to 2x+z3 2x+yz2...Ch. 5.4 - Prob. 16ECh. 5.4 - Prob. 17ECh. 5.4 - Prob. 18ECh. 5.4 - Prob. 19ECh. 5.4 - In Exercises 19-24, we suggest the use of...Ch. 5.4 - Prob. 21ECh. 5.4 - In Exercises 19-24, we suggest the use of...Ch. 5.4 - In Exercises 19-24, we suggest the use of...Ch. 5.4 - Prob. 24ECh. 5.4 - Agriculture (Compare Exercise 27 in Section 6.3.)...Ch. 5.4 - Agriculture (Compare Exercise 28 in Section 6.3.)...Ch. 5.4 - Politics The political pollster Canter preparing...Ch. 5.4 - Prob. 28ECh. 5.4 - Resource Allocation Succulent Citrus produce...Ch. 5.4 - Resource Allocation Fancy Pineapple produces...Ch. 5.4 - Latin Music Sales (Digital) You are about to go...Ch. 5.4 - Prob. 32ECh. 5.4 - Prob. 33ECh. 5.4 - Prob. 34ECh. 5.4 - Gaming Exercises 33-36 are based on the following...Ch. 5.4 - Prob. 36ECh. 5.4 - Prob. 37ECh. 5.4 - Prob. 38ECh. 5.4 - Prob. 39ECh. 5.4 - Purchasing Federal Rent-a-Car is pulling together...Ch. 5.4 - Prob. 41ECh. 5.4 - Prob. 42ECh. 5.4 - Prob. 43ECh. 5.4 - Prob. 44ECh. 5.4 - Transportation Scheduling We return 10 your...Ch. 5.4 - Prob. 46ECh. 5.4 - Finance Senator Porkbarrel habitually overdraws...Ch. 5.4 - Prob. 48ECh. 5.4 - Transportation Scheduling Your publishing company...Ch. 5.4 - Transportation Scheduling Repeat Exercise 49, but...Ch. 5.4 - Prob. 51ECh. 5.4 - Prob. 52ECh. 5.4 - Prob. 53ECh. 5.4 - Prob. 54ECh. 5.4 - Prob. 55ECh. 5.4 - Prob. 56ECh. 5.4 - Prob. 57ECh. 5.4 - Prob. 58ECh. 5.4 - Prob. 59ECh. 5.4 - Prob. 60ECh. 5.4 - Prob. 61ECh. 5.4 - Prob. 62ECh. 5.5 - In Exercises 1-8, write down (without solving) the...Ch. 5.5 - In Exercises 1-8, write down (without solving) the...Ch. 5.5 - In Exercises 1-8, write down (without solving) the...Ch. 5.5 - Prob. 4ECh. 5.5 - In Exercises 1-8, write down (without solving) the...Ch. 5.5 - Prob. 6ECh. 5.5 - In Exercises 1-8, write down (without solving) the...Ch. 5.5 - Prob. 8ECh. 5.5 - In Exercises 9-22, solve the given standard...Ch. 5.5 - In Exercises 9-22, solve the given standard...Ch. 5.5 - Prob. 11ECh. 5.5 - In Exercises 9-22, solve the given standard...Ch. 5.5 - Prob. 13ECh. 5.5 - In Exercises 9-22, solve the given standard...Ch. 5.5 - In Exercises 9-22, solve the given standard...Ch. 5.5 - Prob. 16ECh. 5.5 - Prob. 17ECh. 5.5 - Prob. 18ECh. 5.5 - Prob. 19ECh. 5.5 - In Exercises 9-22, solve the given standard...Ch. 5.5 - Prob. 21ECh. 5.5 - Prob. 22ECh. 5.5 - Prob. 23ECh. 5.5 - In Exercises 23-28, solve the game with the given...Ch. 5.5 - In Exercises 23-28, solve the game with the given...Ch. 5.5 - Prob. 26ECh. 5.5 - Many of Exercises 29-40 are similar or identical...Ch. 5.5 - Many of Exercises 29-40 are similar or identical...Ch. 5.5 - Prob. 31ECh. 5.5 - Many of Exercises 29-40 are similar or identical...Ch. 5.5 - Prob. 33ECh. 5.5 - Many of Exercises 29-40 are similar or identical...Ch. 5.5 - Many of Exercises 29-40 are similar or identical...Ch. 5.5 - Many of Exercises 29-40 are similar or identical...Ch. 5.5 - Many of Exercises 29-40 are similar or identical...Ch. 5.5 - Prob. 38ECh. 5.5 - Prob. 39ECh. 5.5 - Many of Exercises 29-40 are similar or identical...Ch. 5.5 - Prob. 41ECh. 5.5 - Game Theory: Marketing Your companys new portable...Ch. 5.5 - Game Theory: Morra Games A three-finger Morra game...Ch. 5.5 - Prob. 47ECh. 5.5 - Prob. 48ECh. 5.5 - Prob. 49ECh. 5.5 - Prob. 50ECh. 5.5 - Prob. 51ECh. 5.5 - Prob. 52ECh. 5.5 - Prob. 53ECh. 5.5 - Prob. 54ECh. 5.5 - Prob. 55ECh. 5 - In Exercises 1-4, sketch the region corresponding...Ch. 5 - Prob. 2RECh. 5 - Prob. 3RECh. 5 - Prob. 4RECh. 5 - In Exercises 5-8, solve the given linear...Ch. 5 - In Exercises 5-8, solve the given linear...Ch. 5 - Prob. 7RECh. 5 - Prob. 8RECh. 5 - Prob. 9RECh. 5 - Prob. 10RECh. 5 - Prob. 11RECh. 5 - Prob. 12RECh. 5 - In Exercises 9-18, solve the given linear...Ch. 5 - Prob. 14RECh. 5 - Prob. 15RECh. 5 - Prob. 16RECh. 5 - In Exercises 9-18, solve the given linear...Ch. 5 - Prob. 18RECh. 5 - Prob. 19RECh. 5 - Prob. 20RECh. 5 - Prob. 21RECh. 5 - Prob. 22RECh. 5 - Prob. 23RECh. 5 - Prob. 24RECh. 5 - Prob. 25RECh. 5 - Prob. 26RECh. 5 - Prob. 27RECh. 5 - Prob. 28RECh. 5 - Prob. 29RECh. 5 - Prob. 30RECh. 5 - In Exercises 31-34, you are the buyer for...Ch. 5 - In Exercises 31-34, you are the buyer for...Ch. 5 - In Exercises 31-34, you are the buyer for...Ch. 5 - Prob. 34RECh. 5 - Investments Marjory Duffins portfolio manager has...Ch. 5 - Prob. 36RECh. 5 - Prob. 37RECh. 5 - Profit Duffin House, which is now the largest...Ch. 5 - Prob. 39RECh. 5 - Purchases You are about to place book orders from...Ch. 5 - Degree Requirements During his lunch break, John...Ch. 5 - Prob. 42RECh. 5 - Shipping On the same day that the sales department...Ch. 5 - Prob. 44RECh. 5 - Prob. 45RECh. 5 - Prob. 46RE
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