Essentials Of Business Analytics
1st Edition
ISBN: 9781285187273
Author: Camm, Jeff.
Publisher: Cengage Learning,
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Textbook Question
Chapter 8, Problem 6P
Industrial Designs has been awarded a contract to design a label for a new wine produced by Lake View Winery. The company estimates that 150 hours will be required to complete the project. The firm’s three graphic designers available for assignment to this project are Lisa, a senior designer and team leader; David, a senior designer; and Sarah, a junior designer. Because Lisa has worked on several projects for Lake View Winery, management specified that Lisa must be assigned at least 40% of the total number of hours assigned to the two senior designers. To provide label designing experience for Sarah, the junior designer must be assigned at least 15% of the total project time. However, the number of hours assigned to Sarah must not exceed 25% of the total number of hours assigned to the two senior designers. Due to other project commitments, Lisa has a maximum of 50 hours available to work on this project. Hourly wage rates are $30 for Lisa, $25 for David, and $18 for Sarah.
- a. Formulate a linear program that can be used to determine the number of hours each graphic designer should be assigned to the project to minimize total cost.
- b. How many hours should be assigned to each graphic designer? What is the total cost?
- c. Suppose Lisa could be assigned more than 50 hours. What effect would this have on the optimal solution? Explain.
- d. If Sarah were not required to work a minimum number of hours on this project, would the optimal solution change? Explain.
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The table below indicates the number of years of experience of a sample of employees who work on a particular production line and the corresponding number of units of a good that each employee produced last month.
Years of Experience (x)
Number of Goods (y)
11
63
5
57
1
48
4
54
45
3
51
Q.1.1 By completing the table below and then applying the relevant formulae, determine the line of best fit for this bivariate data set.
Do NOT change the units for the variables.
X
y
X2
xy
Ex=
Ey=
EX2
EXY=
Q.1.2 Estimate the number of units of the good that would have been produced last month by an employee with 8 years of experience.
Q.1.3 Using your calculator, determine the coefficient of correlation for the data set.
Interpret your answer.
Q.1.4 Compute the coefficient of determination for the data set.
Interpret your answer.
Q.3.2 A sample of consumers was asked to name their favourite fruit. The results regarding the popularity of the different fruits are given in the following table.
Type of Fruit
Number of Consumers
Banana
25
Apple
20
Orange
5
TOTAL
50
Draw a bar chart to graphically illustrate the results given in the table.
Chapter 8 Solutions
Essentials Of Business Analytics
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Ch. 8 - The Atlantic Seafood Company (ASC) is a buyer and...Ch. 8 - The Silver Star Bicycle Company will manufacture...Ch. 8 - The Clark County Sheriff’s Department schedules...Ch. 8 - Bay Oil produces two types of fuel (regular and...Ch. 8 - Consider the following network representation of a...Ch. 8 - Refer to the transportation problem described in...Ch. 8 - Aggie Power Generation supplies electrical power...Ch. 8 - The Calhoun Textile Mill is in the process of...Ch. 8 - Refer to the Calhoun Textile Mill production...
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