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Chamberlain College of Nursing Poisson Probability Distribution Discussion
Initial Post Instructions
Topic: Poisson Probability Distribution
The Poisson Distribution is a discrete probability distr ...
Chamberlain College of Nursing Poisson Probability Distribution Discussion
Initial Post Instructions
Topic: Poisson Probability Distribution
The Poisson Distribution is a discrete probability distribution where the number of occurrences in one interval (time or area) is independent of the number of occurrences in other intervals.
April Showers bring May Flowers!! Research the "Average Amount of Days of Precipitation in April" for a city of your choice.
In your initial post,
Introduce
Introduce the City and State. Let us know a fun fact!
Tell us the average number of days of precipitation in that city for the month of April.
Cite your Source
Calculations
What is the probability of having exactly 10 days of precipitation in the month of April?
What is the probability of having less than three days of precipitation in the month of April?
What is the probability of having more than 15 days of precipitation in the month of April?
Analysis
Write a sentence for each of the probabilities explaining what those probabilities mean in context of days of precipitation in your chosen city.
Would any of the situations be considered unusual? Why or Why Not?
Grantham University Accounting Standards Board Discussion
Minimum of five pages including a cover page with all necessary info. Clearly identify the Case Problem # and titles. &nbs ...
Grantham University Accounting Standards Board Discussion
Minimum of five pages including a cover page with all necessary info. Clearly identify the Case Problem # and titles. Include a reference page. The main body should clearly address all questions asked in the managerial report of the two case problems. This essay should reflect scholarly writing and current APA standards and must include citations to support the ideas.
Final Project Part A, select one of the cases from the list below
Ch. 4 Linear Programming Applications in Marketing, Finance, and Operations Management: Case#1
Case Problem 1
Planning an Advertising Campaign
The Flamingo Grill is an upscale restaurant located in St. Petersburg, Florida. To help plan an advertising campaign for the coming season, Flamingo’s management team hired the advertising firm of Haskell & Johnson (HJ). The management team requested HJ’s recommendation concerning how the advertising budget should be distributed across television, radio, and online advertisements. The budget has been set at $279,000.
In a meeting with Flamingo’s management team, HJ consultants provided the following information about the industry exposure effectiveness rating per ad, their estimate of the number of potential new customers reached per ad, and the cost for each ad:
Advertising Media | Exposure Rating per Ad | New Customers per Ad | Cost per Ad
Television | 90 | 4,000 | $10,000
Radio | 25 | 2,000 | $ 3,000
Online | 10 | 1,000 | $ 1,000
The exposure rating is viewed as a measure of the value of the ad to both existing customers and potential new customers. It is a function of such things as image, message recall, visual and audio appeal, and so on. As expected, the more expensive television advertisement has the highest exposure effectiveness rating along with the greatest potential for reaching new customers.
At this point, the HJ consultants pointed out that the data concerning exposure and reach were only applicable to the first few ads in each medium. For television, HJ stated that the exposure rating of 90 and the 4000 new customers reached per ad were reliable for the first 10 television ads. After 10 ads, the benefit is expected to decline. For planning purposes, HJ recommended reducing the exposure rating to 55 and the estimate of the potential new customers reached to 1500 for any television ads beyond 10. For radio ads, the preceding data are reliable up to a maximum of 15 ads. Beyond 15 ads, the exposure rating declines to 20 and the number of new customers reached declines to 1200 per ad. Similarly, for online ads, the preceding data are reliable up to a maximum of 20; the exposure rating declines to 5 and the potential number of new customers reached declines to 800 for additional ads.
Flamingo’s management team accepted maximizing the total exposure rating, across all media, as the objective of the advertising campaign. Because of management’s concern with attracting new customers, management stated that the advertising campaign must reach at least 100,000 new customers. To balance the advertising campaign and make use of all advertising media, Flamingo’s management team also adopted the following guidelines:
Use at least twice as many radio advertisements as television advertisements.
Use no more than 20 television advertisements.
The television budget should be at least $140,000.
The radio advertising budget is restricted to a maximum of $99,000.
The online budget is to be at least $30,000.
HJ agreed to work with these guidelines and provide a recommendation as to how the $279,000 advertising budget should be allocated among television, radio, and online advertising.
Managerial Report
Develop a model that can be used to determine the advertising budget allocation for the Flamingo Grill. Include a discussion of the following in your report:
A schedule showing the recommended number of television, radio, and online advertisements and the budget allocation for each medium. Show the total exposure and indicate the total number of potential new customers reached.
How would the total exposure change if an additional $10,000 were added to the advertising budget?
A discussion of the ranges for the objective function coefficients. What do the ranges indicate about how sensitive the recommended solution is to HJ’s exposure rating coefficients?
After reviewing HJ’s recommendation, the Flamingo’s management team asked how the recommendation would change if the objective of the advertising campaign was to maximize the number of potential new customers reached. Develop the media schedule under this objective.
Compare the recommendations from parts 1 and 4. What is your recommendation for the Flamingo Grill’s advertising campaign?
Final Project Part B, select one of the cases from the list below
Ch.10 Inventory Models: Case#1
Case Problem 1
Wagner Fabricating Company
Managers at Wagner Fabricating Company are reviewing the economic feasibility of manufacturing a part that the company currently purchases from a supplier. Forecasted annual demand for the part is 3200 units. Wagner operates 250 days per year.
Wagner’s financial analysts established a cost of capital of 14% for the use of funds for investments within the company. In addition, over the past year $600,000 was the average investment in the company’s inventory. Accounting information shows that a total of $24,000 was spent on taxes and insurance related to the company’s inventory. In addition, an estimated $9000 was lost due to inventory shrinkage, which included damaged goods as well as pilferage. A remaining $15,000 was spent on warehouse overhead, including utility expenses for heating and lighting.
An analysis of the purchasing operation shows that approximately two hours are required to process and coordinate an order for the part regardless of the quantity ordered. Purchasing salaries average $28 per hour, including employee benefits. In addition, a detailed analysis of 125 orders showed that $2375 was spent on telephone, paper, and postage directly related to the ordering process.
A one-week lead time is required to obtain the part from the supplier. An analysis of demand during the lead time shows it is approximately normally distributed with a mean of 64 units and a standard deviation of 10 units. Service-level guidelines indicate that one stock-out per year is acceptable.
Currently, the company has a contract to purchase the part from a supplier at a cost of $18 per unit. However, over the past few months, the company’s production capacity has been expanded. As a result, excess capacity is now available in certain production departments, and the company is considering the alternative of producing the parts itself.
Forecasted utilization of equipment shows that production capacity will be available for the part being considered. The production capacity is available at the rate of 1000 units per month, with up to five months of production time available. Management believes that with a two-week lead time, schedules can be arranged so that the part can be produced whenever needed. The demand during the two-week lead time is approximately normally distributed, with a mean of 128 units and a standard deviation of 20 units. Production costs are expected to be $17 per part.
A concern of management is that setup costs will be substantial. The total cost of labor and lost production time is estimated to be $50 per hour, and a full eight-hour shift will be needed to set up the equipment for producing the part.
Managerial Report
Develop a report for management of Wagner Fabricating that will address the question of whether the company should continue to purchase the part from the supplier or begin to produce the part itself. Include the following factors in your report:
An analysis of the holding costs, including the appropriate annual holding cost rate
An analysis of ordering costs, including the appropriate cost per order from the supplier
An analysis of setup costs for the production operation
A development of the inventory policy for the following two alternatives:
Ordering a fixed quantity Q from the supplier
Ordering a fixed quantity Q from in-plant production
Include the following in the policies of parts 4(a) and 4(b):
Optimal quantity Q*
Number of order or production runs per year
Cycle time
Reorder point
Amount of safety stock
Expected maximum inventory
Average inventory
Annual holding cost
Annual ordering cost
Annual cost of the units purchased or manufactured
Total annual cost of the purchase policy and the total annual cost of the production policy
Make a recommendation as to whether the company should purchase or manufacture the part. What savings are associated with your recommendation as compared with the other alternative?
77 pages
C520 Fa20 Finalexam
The data meet the Linearity assumption to perform regression analysis. The regression analysis is show in the R Build a l ...
C520 Fa20 Finalexam
The data meet the Linearity assumption to perform regression analysis. The regression analysis is show in the R Build a linear regression model to ...
Colorado State University Week 8 Exponential and Logarithmic Equations Questions
Welcome to Module 8! Last week we studied and analyzed exponential and logarithmic equations and their applications. We al ...
Colorado State University Week 8 Exponential and Logarithmic Equations Questions
Welcome to Module 8! Last week we studied and analyzed exponential and logarithmic equations and their applications. We also reviewed exponential growth and decay models and applied them to real-world contexts.In Module 8, we will focus on solving systems of two equations in two variables. We will discuss three different approaches for solving this type of system of equations. Additionally, we will learn how to solve systems of three equations in three variables using Gaussian elimination.Note 1:Please make sure you review all the previous comments before you submit your post, to avoid identical examples or work.Note 2:As I mentioned in other posts, it would be ideal if you can submit your peer responses on different days, after your initial post. The order is important, as I need time to review your initial posts, and you need to remain active, and visible, on the discussion board, throughout the entire week.Note 3:Please post and mark your answers in the given task order (1, 2, and 3) for an easy review and understanding of your assignment work. Please show detailed work and explanations instead of final answers.Learning Outcomes:Solve systems of linear equations in two variables by graphing.Solve systems of linear equations in two variables by substitution.Solve systems of linear equations in two variables by elimination.Solve systems of linear equations in three variables with Gaussian elimination.Solve application problems involving systems of equations.Make sure you read Sections 7.1, 7.2, and 7.6 in the course textbook and follow the examples outlined there. Also, work through the examples shown in the additional required readings. Practice makes perfect!Next, attempt the Opening Exercises before engaging with the personalized lecture where you will complete Check Your Understanding that will help you navigate the various sections. Once you feel ready, you can attempt the Mastery Exercises that can be found in Knewton alta.This week you will also have a final exam. Set aside some time to complete the final exam review (preview) in Knewton alta this week, so you are prepared for the final exam due at the end of this week.Required materials:Sections 7.1, 7.2, and 7.6 in College Algebra, AbramsonChapter 4 in Beginning and Intermediate AlgebraSections 8.1 and 8.2 in College Algebra, Stitz============================================================================================================Your task for this discussion is as follows:Write a system of two linear equations that model something from your daily life.Solve the system of equations in two ways.Discuss which method you liked better and why.In your responses to peers, compare and contrast your preferences for how to solve systems of equations.
3 pages
Use Of Variation
Variation is the slight difference or change in amount, condition or level, commonly within specific limits. Variety is us ...
Use Of Variation
Variation is the slight difference or change in amount, condition or level, commonly within specific limits. Variety is used in several ways in day to ...
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Chamberlain College of Nursing Poisson Probability Distribution Discussion
Initial Post Instructions
Topic: Poisson Probability Distribution
The Poisson Distribution is a discrete probability distr ...
Chamberlain College of Nursing Poisson Probability Distribution Discussion
Initial Post Instructions
Topic: Poisson Probability Distribution
The Poisson Distribution is a discrete probability distribution where the number of occurrences in one interval (time or area) is independent of the number of occurrences in other intervals.
April Showers bring May Flowers!! Research the "Average Amount of Days of Precipitation in April" for a city of your choice.
In your initial post,
Introduce
Introduce the City and State. Let us know a fun fact!
Tell us the average number of days of precipitation in that city for the month of April.
Cite your Source
Calculations
What is the probability of having exactly 10 days of precipitation in the month of April?
What is the probability of having less than three days of precipitation in the month of April?
What is the probability of having more than 15 days of precipitation in the month of April?
Analysis
Write a sentence for each of the probabilities explaining what those probabilities mean in context of days of precipitation in your chosen city.
Would any of the situations be considered unusual? Why or Why Not?
Grantham University Accounting Standards Board Discussion
Minimum of five pages including a cover page with all necessary info. Clearly identify the Case Problem # and titles. &nbs ...
Grantham University Accounting Standards Board Discussion
Minimum of five pages including a cover page with all necessary info. Clearly identify the Case Problem # and titles. Include a reference page. The main body should clearly address all questions asked in the managerial report of the two case problems. This essay should reflect scholarly writing and current APA standards and must include citations to support the ideas.
Final Project Part A, select one of the cases from the list below
Ch. 4 Linear Programming Applications in Marketing, Finance, and Operations Management: Case#1
Case Problem 1
Planning an Advertising Campaign
The Flamingo Grill is an upscale restaurant located in St. Petersburg, Florida. To help plan an advertising campaign for the coming season, Flamingo’s management team hired the advertising firm of Haskell & Johnson (HJ). The management team requested HJ’s recommendation concerning how the advertising budget should be distributed across television, radio, and online advertisements. The budget has been set at $279,000.
In a meeting with Flamingo’s management team, HJ consultants provided the following information about the industry exposure effectiveness rating per ad, their estimate of the number of potential new customers reached per ad, and the cost for each ad:
Advertising Media | Exposure Rating per Ad | New Customers per Ad | Cost per Ad
Television | 90 | 4,000 | $10,000
Radio | 25 | 2,000 | $ 3,000
Online | 10 | 1,000 | $ 1,000
The exposure rating is viewed as a measure of the value of the ad to both existing customers and potential new customers. It is a function of such things as image, message recall, visual and audio appeal, and so on. As expected, the more expensive television advertisement has the highest exposure effectiveness rating along with the greatest potential for reaching new customers.
At this point, the HJ consultants pointed out that the data concerning exposure and reach were only applicable to the first few ads in each medium. For television, HJ stated that the exposure rating of 90 and the 4000 new customers reached per ad were reliable for the first 10 television ads. After 10 ads, the benefit is expected to decline. For planning purposes, HJ recommended reducing the exposure rating to 55 and the estimate of the potential new customers reached to 1500 for any television ads beyond 10. For radio ads, the preceding data are reliable up to a maximum of 15 ads. Beyond 15 ads, the exposure rating declines to 20 and the number of new customers reached declines to 1200 per ad. Similarly, for online ads, the preceding data are reliable up to a maximum of 20; the exposure rating declines to 5 and the potential number of new customers reached declines to 800 for additional ads.
Flamingo’s management team accepted maximizing the total exposure rating, across all media, as the objective of the advertising campaign. Because of management’s concern with attracting new customers, management stated that the advertising campaign must reach at least 100,000 new customers. To balance the advertising campaign and make use of all advertising media, Flamingo’s management team also adopted the following guidelines:
Use at least twice as many radio advertisements as television advertisements.
Use no more than 20 television advertisements.
The television budget should be at least $140,000.
The radio advertising budget is restricted to a maximum of $99,000.
The online budget is to be at least $30,000.
HJ agreed to work with these guidelines and provide a recommendation as to how the $279,000 advertising budget should be allocated among television, radio, and online advertising.
Managerial Report
Develop a model that can be used to determine the advertising budget allocation for the Flamingo Grill. Include a discussion of the following in your report:
A schedule showing the recommended number of television, radio, and online advertisements and the budget allocation for each medium. Show the total exposure and indicate the total number of potential new customers reached.
How would the total exposure change if an additional $10,000 were added to the advertising budget?
A discussion of the ranges for the objective function coefficients. What do the ranges indicate about how sensitive the recommended solution is to HJ’s exposure rating coefficients?
After reviewing HJ’s recommendation, the Flamingo’s management team asked how the recommendation would change if the objective of the advertising campaign was to maximize the number of potential new customers reached. Develop the media schedule under this objective.
Compare the recommendations from parts 1 and 4. What is your recommendation for the Flamingo Grill’s advertising campaign?
Final Project Part B, select one of the cases from the list below
Ch.10 Inventory Models: Case#1
Case Problem 1
Wagner Fabricating Company
Managers at Wagner Fabricating Company are reviewing the economic feasibility of manufacturing a part that the company currently purchases from a supplier. Forecasted annual demand for the part is 3200 units. Wagner operates 250 days per year.
Wagner’s financial analysts established a cost of capital of 14% for the use of funds for investments within the company. In addition, over the past year $600,000 was the average investment in the company’s inventory. Accounting information shows that a total of $24,000 was spent on taxes and insurance related to the company’s inventory. In addition, an estimated $9000 was lost due to inventory shrinkage, which included damaged goods as well as pilferage. A remaining $15,000 was spent on warehouse overhead, including utility expenses for heating and lighting.
An analysis of the purchasing operation shows that approximately two hours are required to process and coordinate an order for the part regardless of the quantity ordered. Purchasing salaries average $28 per hour, including employee benefits. In addition, a detailed analysis of 125 orders showed that $2375 was spent on telephone, paper, and postage directly related to the ordering process.
A one-week lead time is required to obtain the part from the supplier. An analysis of demand during the lead time shows it is approximately normally distributed with a mean of 64 units and a standard deviation of 10 units. Service-level guidelines indicate that one stock-out per year is acceptable.
Currently, the company has a contract to purchase the part from a supplier at a cost of $18 per unit. However, over the past few months, the company’s production capacity has been expanded. As a result, excess capacity is now available in certain production departments, and the company is considering the alternative of producing the parts itself.
Forecasted utilization of equipment shows that production capacity will be available for the part being considered. The production capacity is available at the rate of 1000 units per month, with up to five months of production time available. Management believes that with a two-week lead time, schedules can be arranged so that the part can be produced whenever needed. The demand during the two-week lead time is approximately normally distributed, with a mean of 128 units and a standard deviation of 20 units. Production costs are expected to be $17 per part.
A concern of management is that setup costs will be substantial. The total cost of labor and lost production time is estimated to be $50 per hour, and a full eight-hour shift will be needed to set up the equipment for producing the part.
Managerial Report
Develop a report for management of Wagner Fabricating that will address the question of whether the company should continue to purchase the part from the supplier or begin to produce the part itself. Include the following factors in your report:
An analysis of the holding costs, including the appropriate annual holding cost rate
An analysis of ordering costs, including the appropriate cost per order from the supplier
An analysis of setup costs for the production operation
A development of the inventory policy for the following two alternatives:
Ordering a fixed quantity Q from the supplier
Ordering a fixed quantity Q from in-plant production
Include the following in the policies of parts 4(a) and 4(b):
Optimal quantity Q*
Number of order or production runs per year
Cycle time
Reorder point
Amount of safety stock
Expected maximum inventory
Average inventory
Annual holding cost
Annual ordering cost
Annual cost of the units purchased or manufactured
Total annual cost of the purchase policy and the total annual cost of the production policy
Make a recommendation as to whether the company should purchase or manufacture the part. What savings are associated with your recommendation as compared with the other alternative?
77 pages
C520 Fa20 Finalexam
The data meet the Linearity assumption to perform regression analysis. The regression analysis is show in the R Build a l ...
C520 Fa20 Finalexam
The data meet the Linearity assumption to perform regression analysis. The regression analysis is show in the R Build a linear regression model to ...
Colorado State University Week 8 Exponential and Logarithmic Equations Questions
Welcome to Module 8! Last week we studied and analyzed exponential and logarithmic equations and their applications. We al ...
Colorado State University Week 8 Exponential and Logarithmic Equations Questions
Welcome to Module 8! Last week we studied and analyzed exponential and logarithmic equations and their applications. We also reviewed exponential growth and decay models and applied them to real-world contexts.In Module 8, we will focus on solving systems of two equations in two variables. We will discuss three different approaches for solving this type of system of equations. Additionally, we will learn how to solve systems of three equations in three variables using Gaussian elimination.Note 1:Please make sure you review all the previous comments before you submit your post, to avoid identical examples or work.Note 2:As I mentioned in other posts, it would be ideal if you can submit your peer responses on different days, after your initial post. The order is important, as I need time to review your initial posts, and you need to remain active, and visible, on the discussion board, throughout the entire week.Note 3:Please post and mark your answers in the given task order (1, 2, and 3) for an easy review and understanding of your assignment work. Please show detailed work and explanations instead of final answers.Learning Outcomes:Solve systems of linear equations in two variables by graphing.Solve systems of linear equations in two variables by substitution.Solve systems of linear equations in two variables by elimination.Solve systems of linear equations in three variables with Gaussian elimination.Solve application problems involving systems of equations.Make sure you read Sections 7.1, 7.2, and 7.6 in the course textbook and follow the examples outlined there. Also, work through the examples shown in the additional required readings. Practice makes perfect!Next, attempt the Opening Exercises before engaging with the personalized lecture where you will complete Check Your Understanding that will help you navigate the various sections. Once you feel ready, you can attempt the Mastery Exercises that can be found in Knewton alta.This week you will also have a final exam. Set aside some time to complete the final exam review (preview) in Knewton alta this week, so you are prepared for the final exam due at the end of this week.Required materials:Sections 7.1, 7.2, and 7.6 in College Algebra, AbramsonChapter 4 in Beginning and Intermediate AlgebraSections 8.1 and 8.2 in College Algebra, Stitz============================================================================================================Your task for this discussion is as follows:Write a system of two linear equations that model something from your daily life.Solve the system of equations in two ways.Discuss which method you liked better and why.In your responses to peers, compare and contrast your preferences for how to solve systems of equations.
3 pages
Use Of Variation
Variation is the slight difference or change in amount, condition or level, commonly within specific limits. Variety is us ...
Use Of Variation
Variation is the slight difference or change in amount, condition or level, commonly within specific limits. Variety is used in several ways in day to ...
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