Chapter 1: 1-8, 1-10, 1-14, 1-20.

Chapter 2: 2-18, 2-20, 2-24,2-32.

Homework module 1:

Chapter 1:
1-8: Describe the use of sensitivity analysis and postoptimality analysis in analyzing the results.
1-10: Why do you think many quantitative analysts don’t like to praticipate in the implementation process? What could be done to change this attitude?
1-14: Gina Fox has started her own company. Foxy Shirts, which manufactures imprinted shirts for special occasions. Since she has just begun this operation, she rents the equipment from a local printing shop when necessary. The cost of using the equipment is $350. The materials used in one shirt cost $8 and Gina can sell these for $15 each,
(a) If Gina sell 20 shirts what will her total revenue be? What will her total variable cost be?
(b) How many shirts must Gina sell to break even? What is the total revenue for this?
1-20: Mysti Farris (see problem 1-19) is considering raising the selling price of each cue to $50 instead of $40. If this is done while the cost remain the same ($2,400) what would be the new break even point? What would the total revenue be at this break even point?

Chapter 2

Problem 2-18

1. Last year, at Northern Manufacturing Company, 200 people had colds during the year. One hundred fifty-five people who did no exercising had colds, while the remainder of the people with colds were involved in a weekly exercise program. Half of the 1,000 employees were involved in some type of exercise.

a. What is the probability that an employee will have a cold next year?

b. Given that an employee is involved in an exercise program, what is the probability that he or she will get a cold?

c. What is the probability that an employee that is not involved in an exercise program will get a cold next year?

d. Are exercising and getting a cold independent events? Explain your answer.

David Mashley teaches two undergraduate statistics courses at Kansas College. The class for Statistics 201 consists of 7 sophomores and 3 juniors. The more advanced course, Statistics 301, has 2 sophomores and 8 juniors enrolled. As an example of a business sampling techinique, Professor Mashley randomly selects, from the stack of Statistics 201 registration cards, the class card of one student and then places that card back in the stack. If that student was a sophomore, Mashley draws another card from the Statistics 201 stack; if not, he randomly draws a card from the Statistics 301 group. Are these two draws independent events? What is the probabilty of

(a) a junior’s name on the first draw

(b) a junior’s name on the second draw, given that a sophomore’s name was drawn first?

(c) a juniors’s name on the second draw, give that a junior’s name was drawn first?

(d) a sophomore’s name on both draw’s?

(e) a junior’s name on both draw’s?

(f) one sophomore’s name and one junior’s name on the two draws, regardless of order drawn?

2-24: The Boston South Fifth Street Softball League consists of three teams: Mama’s Boys, team 1; the Killers, team 2; and the Machos, team 3. Each team plays the other teams just once during the season. The win-loss record for the past five years is as follows:
Winner (1) (2) (3)
Mama’s Boys (1) X 3 4
The Killers (2) 2 X 1
The Machos (3) 1 4 X

Each row represents the number of wins over the past five years. Mama’s Boys beat the Killers 3 times, beat the Machos 4 times, and so on.

The schedule for the Killers next year is as follows:
Game 1: The Machos
Game 2: The Mama’s Boys
(a) What is the probability that the Killers will win their first game? =
(b) What is the probability that the Killers will win their last game? =
(c) What is the probability that the Killers will break even-win exactly one game?
(d) What is the probability that the Killers will win every game? = .8
(e) What is the probability that the Killers will lose every game?
(f) Would you want to be the coach of the Killers?

 

2-32. There are 10 questions on a true–false test. A student feels unprepared for this test and randomly guesses the answer for each of these.

(a)What is the probability that the student gets exactly 7 correct?

(b)What is the probability that the student gets exactly 8 correct?

(c)What is the probability that the student gets exactly 9 correct?

(d)What is the probability that the student gets exactly 10 correct?

(e)What is the probability that the student gets more than 6 correct?

Chapter 1: 1-8, 1-10, 1-14, 1-20.

Chapter 2: 2-18, 2-20, 2-24,2-32.

Homework module 1:

Chapter 1:
1-8: Describe the use of sensitivity analysis and postoptimality analysis in analyzing the results.
1-10: Why do you think many quantitative analysts don’t like to praticipate in the implementation process? What could be done to change this attitude?
1-14: Gina Fox has started her own company. Foxy Shirts, which manufactures imprinted shirts for special occasions. Since she has just begun this operation, she rents the equipment from a local printing shop when necessary. The cost of using the equipment is $350. The materials used in one shirt cost $8 and Gina can sell these for $15 each,
(a) If Gina sell 20 shirts what will her total revenue be? What will her total variable cost be?
(b) How many shirts must Gina sell to break even? What is the total revenue for this?
1-20: Mysti Farris (see problem 1-19) is considering raising the selling price of each cue to $50 instead of $40. If this is done while the cost remain the same ($2,400) what would be the new break even point? What would the total revenue be at this break even point?

Chapter 2

Problem 2-18

1. Last year, at Northern Manufacturing Company, 200 people had colds during the year. One hundred fifty-five people who did no exercising had colds, while the remainder of the people with colds were involved in a weekly exercise program. Half of the 1,000 employees were involved in some type of exercise.

a. What is the probability that an employee will have a cold next year?

b. Given that an employee is involved in an exercise program, what is the probability that he or she will get a cold?

c. What is the probability that an employee that is not involved in an exercise program will get a cold next year?

d. Are exercising and getting a cold independent events? Explain your answer.

David Mashley teaches two undergraduate statistics courses at Kansas College. The class for Statistics 201 consists of 7 sophomores and 3 juniors. The more advanced course, Statistics 301, has 2 sophomores and 8 juniors enrolled. As an example of a business sampling techinique, Professor Mashley randomly selects, from the stack of Statistics 201 registration cards, the class card of one student and then places that card back in the stack. If that student was a sophomore, Mashley draws another card from the Statistics 201 stack; if not, he randomly draws a card from the Statistics 301 group. Are these two draws independent events? What is the probabilty of

(a) a junior’s name on the first draw

(b) a junior’s name on the second draw, given that a sophomore’s name was drawn first?

(c) a juniors’s name on the second draw, give that a junior’s name was drawn first?

(d) a sophomore’s name on both draw’s?

(e) a junior’s name on both draw’s?

(f) one sophomore’s name and one junior’s name on the two draws, regardless of order drawn?

2-24: The Boston South Fifth Street Softball League consists of three teams: Mama’s Boys, team 1; the Killers, team 2; and the Machos, team 3. Each team plays the other teams just once during the season. The win-loss record for the past five years is as follows:
Winner (1) (2) (3)
Mama’s Boys (1) X 3 4
The Killers (2) 2 X 1
The Machos (3) 1 4 X

Each row represents the number of wins over the past five years. Mama’s Boys beat the Killers 3 times, beat the Machos 4 times, and so on.

The schedule for the Killers next year is as follows:
Game 1: The Machos
Game 2: The Mama’s Boys
(a) What is the probability that the Killers will win their first game? =
(b) What is the probability that the Killers will win their last game? =
(c) What is the probability that the Killers will break even-win exactly one game?
(d) What is the probability that the Killers will win every game? = .8
(e) What is the probability that the Killers will lose every game?
(f) Would you want to be the coach of the Killers?

 

2-32. There are 10 questions on a true–false test. A student feels unprepared for this test and randomly guesses the answer for each of these.

(a)What is the probability that the student gets exactly 7 correct?

(b)What is the probability that the student gets exactly 8 correct?

(c)What is the probability that the student gets exactly 9 correct?

(d)What is the probability that the student gets exactly 10 correct?

(e)What is the probability that the student gets more than 6 correct?