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Correlation and Regression Analysis

Linear Programming model to maximize daily profit

1. A chocolate store has contracted to operate a small candy counter in a fashionable store. To start with, the selection of offering will be intentionally limited. The counter will offer a regular mix candy that is equal parts of cashews, caramels, and chocolates, and a deluxe mix that is one-half cashews and one-half chocolate

Linear Programming Explanation Basic Understanding

Valley Fruit Products Company has contracted with apple growers in Ohio, Pennsylvania, and New York to purchase apples that the company then ships to its plants in Indiana and Georgia, where they are processed into apple juice. Each bushel of apples produces 2 gallons of apple juice. The juice is canned and bottled at the plan

Mallory Furniture: Linear Program Model and Sensitivity Analysis

1. The production manager for Beer Etc. produces 2 kinds of beer: light (L) and dark(D). Two resources used to produce beer are malt and wheat. He can obtain at most 4800 oz of malt per week and at most 3200 oz of wheat per week respectively. Each bottle of light beer requires 12 oz of malt and 4 oz of wheat, while a bottle o

Statistics: Ballplayer Selection using linear progression (LP)

The Dubuque Sackers, a class D baseball team, face a tough four-game road trip against league rivals in Des Moines, Davenport, Omaha, and Peoria. Manager "Red" faces the task of scheduling his four starting pitchers for appropriate games. Because the games are to be played back to back in less than one week, Revelle cannot count

Linear equations to optimize profit for a brewery

The production manager for Beer etc. produces 2 kinds of beer: light (L) and dark (D). Two resources used to produce beer are malt and wheat. He can obtain at most 4800 oz of malt per week and at most 3200 oz of wheat per week respectively. Each bottle of light beer requires 16 oz of malt and 4 oz of wheat, while a bottle of dar

Relationship between rooms occupied and revenue per day

A suburban hotel derives its gross income from its hotel and restaurant operations. The owners are interested in the relationship between the number of rooms occupied on a nightly basis and the revenue per day in the restaurant. Below is a sample of 25 days (Monday through Thursday) from last year showing the restaurant income a

E2 Grave City relocation: Indicate the linear program model used to solve

Problem E2 Grave City is considering the relocation of several police substations to obtain better enforcement in high-crime areas. The locations under consideration together with the areas that can be covered from these locations are given in the following table: Potential Location for Substations

Statistics

Q1: Using regression techniques, we can plot a scatter diagram and plot a line to the data using the Least Squares method. Generally, the points do not fall directly on the line. Why does this happen? Is it a problem? Explain the parameters in a linear regression line with the aid of co-ordinate axis. How could you say, if the s

Statistics - Linear Programming Problem

The company I work for makes stainless steel surgical bars and bronze pipe. Each pound of stainless steel surgical bar takes approximately .25 hours of labor and uses roughly 5 kilowatts of electricity. Each pound of bronze pipe takes approximately .5 hours of labor and uses roughly 2 kilowatts of electricity. In creating the br

Investment Portfolio

A bank has $650,000 in assets to allocate among investments in bonds, home mortgages, car loans, and personal loans. Bonds are expected to produce a return of 10%, mortgages 8.5%, car loans 9.5%, and personal loans 12.5%. To make sure the portfolio is not too risky, the bank wants to restrict personal loans to no more than 25% o

Linear programming and simplex method

Kay Manning is a sales manager with two salespeople working for her. The ability of each salesperson to secure new accounts has historically been: Jesse Burkett can generate 4 new accounts per 10 visits to prospects, and Ed Delahanty averages 3 new accounts per 10 visits to prospects. As of May 1, Jesse has 20 established custom

Cost minimization, Linear trend equation, Maximization

Part 1: Inventory manager for Itex received wheels bearing from Wheel - Rite a small producer of metal parts , Unfortunately , Wheel -rite can only produce 500 wheel bearings from wheel rite each year. Since Itex operates 200 working days each year., its average daily demand for wheel bearings is 50. The ordering cost for Itex i

Simplex method

Study problem: 4-10 Solve the following linear programming model by the simplex method. Maximize Z= $40x1 + $30x2 Subject to: 2 x1 + 2 x2  240 2 x1  120 2 x2  80 x1, x2  0

Prediction of Rental Costs

An agent for a real estate company would like to be able to predict the monthly rental cost for apartments, based on the size of the apartments, as defined by the square footage. A random sample of 25 apartments revealed the following: Apartment Monthly Rent ($) Size (Square Feet) 1

Linear Programming Case Study : Julia's Food Booth(V2)

Julia is a senior at Tech, and she's investigating different ways to finance her final year at school. She is considering leasing a food booth outside the Tech stadium at home football games. Tech sells out every home game, and Julia knows, from attending the games herself, that everyone eats a lot of food. She has to pay $1,

Determining the effect of Fouls on basketball game outcomes

Basketball: Fouls Data for this problem are based on information from STATS Basketball Scoreboard. It is thought that basketball teams that make too many fouls in a game tend to lose the game even if they otherwise play well. Let x be the number of fouls more than (i.e., over and above) the opposing team. Let y be the percenta

Plotting data, fitting a trend line, and making predictions.

Please help with the following problem involving correlation and regression analysis. The following table reports the earning per share (in dollar) for Heban Lumber Mill from 1997 to 2003. Year 1997 1998 1999 2000 2001 2002 2003 earning per share 1.56 1.86 2.17 2.41 2.67 2.97 3.40 Please provide answers to the f

Step-wise answer to Statistics - All Topics

An expert witness in a case of alleged racial discrimination in a state university school of nursing introduced a regression of the determinants of Salary of each professor for each year during an 8-year period (n = 423) with the following results, with dependent variable Year (year in which the salary was observed) and predicto

Using a Causal Model (Regression)

Strayer administrators believe the number of applications is influenced by tuition. The following data for an 8-year period show tuition rates and the size of the applicant pool. Tuition Applicants $ 900 11060 1250 1090 1375 8670 1400 9050 1550

Linear programming problems:Graphical methods

In the following two problems: Provide the extreme points of the feasible region in the form of (x1 = , x2 = , Z = ) and identify which is the optimum solution. You need not list the origin as an extreme point, because it is a given. List the extreme points of the feasible region and indicate one of the following: (1) th

Net Worth of Sponge Bob

Listed below is Sponge Bob's net worth from 1998 to 2007. Determine the least squares trend equation. Interpret the slope. Estimate Sponge Bob's net worth for year 2010.

Linear Programming Model

Lij Systems is an electronics company with production facilities located in Atlanta, Boston, and Chicago. Components produced at these facilities may be shipped to the firm's regional warehouses that are located in Edison and Fargo. From the warehouses the firm supplies retail outlets located in Houston, Indianapolis, and Jackso

Residual Observation

Using the line speed of a conveyor belt to predict the number of defective parts we are given an intercept of 22.17 and a slope of -.148, use the data below to calculate the residual for observation #4.

US Gasoline Market Slope Coefficient, Demand Equation

This file includes annual data on the U.S. Gasoline market from 1953 to 2004. ? Quantity is U.S. Finished Motor Gasoline Product Sold (in Thousands of Barrels) ? Pop is U.S. total population in thousands, ? GasPIndex is the average nominal price for gasoline, in the form of an index, ? Income is a measure of personal

Predicting Life Expectancies from Birth Rates

See the attachment for full problem description. Might we be able to predict life expectancies from birthrates? Below are bivariate data giving birthrate and life expectancy information for each of twelve countries. For each of the countries, both, the number of births per one thousand people in the population, and, the fem