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MAT 540 ASSIGNMENT 2 INTERNET FIELD TRIP

1. Research: Research at least six (6) information sources on forecasting methods; take notes and record and interpret significant facts, meaningful graphics, accurate sounds and evaluated alternative points of view.

2. Preparation: Produce as storyboard with thumbnails of at least ten (10) slides. Include the following elements: o Title of slide, text, background color, placement & size of graphic, fonts – color, size, type for text and headings o Hyperlinks (list URLs of any site linked from the slide), narration text, and audio files (if any) o Number on slides clear o Logical sequence to the presentation

3. Content: Provide written content with the following elements: o introduction that presents the overall topic (clear sense of the project’s main idea) and draws the audience into the presentation with compelling questions or by relating to the audience’s interests or goals. o accurate, current o clear, concise, and shows logical progression of ideas and supporting information o motivating questions and advanced organizers o drawn mainly from primary sources

4. Text Elements: Slides should have the following characteristics: o fonts are easy-to-read; point size that varies appropriately for headings and text o italics, bold, and indentations enhance readability o background and colors enhance the readability of text o appropriate in length for the target audience; to the point

5. Layout: The layout should have the following characteristics: o visually pleasing o contributes to the overall message o appropriate use of headings, subheadings and white space

6. Media: The graphics, sound, and/or animation…...

...Explanation: I conducted a random simulation with the information provided based on 52 base week calendar. Author B. Taylor stated “simulation can be applied to a number of problems that are too difficult to model and solve analytically” (Taylor, 2009). In this case the results were based on the use of one copy machine, intervals of breakdown, requiring 1-4 days for repair at a loss, at $0.10 cents a copy. Day 1: 20%, Day 2: 45%, Day 3: 25%, Day 4: 10% a total probability of 100%. The point of this case study is to simulate the break-down and repair process for one year to obtain an average annual loss of revenue. In addition the amount of time between breakdowns increases the probability of needing more costly repairs. Should the anticipated lost revenue exceeds $12,000.00 annually a backup copier will be purchased. We must keep in mind the most important factors of customer satisfaction and convenience, which is what, prompted the owners of JET to start their business in the first place. The first part of creating the probability of breakdowns relied upon information supplied by Jet Copies and their estimated probability of distribution. The nearby college staff had prior knowledge of the service provider’s timelines for repair because they had the same copier in the campus office. JET used their own estimated repair time to recreate a random repair time probability table using a range of days. As a result the average repair time was 3 days at a cost of $691......

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...Assignment #3 Case Problem - Julia's Food Booth May 28, 2013 Strayer University Course: MAT 540 – Quantitative Methods A: Formulation of the LP Model Let: X1 = (Pizza), X2 = (hotdogs), X3 = (barbecue sandwiches) Constraints: Maximum fund available for the purchase = $1500 Constraint: 0.75X1 + 0.45X2+ 0.90(X3) ≤ 1500 Cost: Cost per pizza slice = $6 (get 8 slices) =6/8 = $0.75 Cost for a hotdog = $.45 Cost for a barbecue sandwich = $.90 Oven space: Space available = 3 x 4 x 16 = 192 sq. feet = 192 x 12 x 12 =27648 sq. inches The oven will be refilled before half time- 27648 x 2 = 55296 Space required for pizza = 14 x 14 = 196 sq. inches Space required for pizza slice = 196/ 8 = 24.50 sq. inches Space required for a hotdog =16 Space required for a barbecue sandwich = 25 Constraint: Constraint: 24.50 (X1) + 16 (X2) + 25 (X3) ≤ 55296 Julia can sell at least as many slices of pizza(X1) as hot dogs(x2) and barbecue sandwiches (X3) combined Constraint: X1 ≥ X2 + X3 = X1 - X2 - X3 ≥ 0 Julia can sell at least twice as many hot dogs as barbecue sandwiches When: X2/X3 ≥ 2 = X2 ≥2 X3 =X2 - 2 X3 ≥ 0 X1, X2, X3 >= 0 (Non negative constraint) Objective Function (Maximize Profit): Products: | Pizza (X1) | Hotdogs (X2) | Barbecue Sandwich(X3) | Sell | 1.5 | 1.5 | 2.25 | Cost | 0.75 | 0.45 | 0.9 | Profit | 0.75 | 1.05 | 1.35 | Profit = Sell - Cost Profit formula: Z = 0.75 X1 + 1.05 X2 + 1.35 X3 LP Model Maximize method: Z = 0.75 X1 +......

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...• • Question 1 2 out of 2 points Seventy two percent of all observations fall within 1 standard deviation of the mean if the data is normally distributed. Answer Selected Answer: False Correct Answer: False • Question 2 2 out of 2 points If two events are not mutually exclusive, then P(A or B) = P(A) + P(B) Answer Selected Answer: False Correct Answer: False • Question 3 2 out of 2 points Probability trees are used only to compute conditional probabilities. Answer Selected Answer: False Correct Answer: False • Question 4 2 out of 2 points Both maximin and minimin criteria are optimistic. Answer Selected Answer: False Correct Answer: False • Question 5 0 out of 2 points The minimin criterion is optimistic. Answer Selected Answer: False Correct Answer: True • Question 6 2 out of 2 points The Hurwicz criterion is a compromise between the maximax and maximin criteria. Answer Selected Answer: True Correct Answer: True • Question 7 0 out of 2 points The maximin approach involves choosing the alternative with the highest or lowest payoff. Answer Selected Answer: True Correct Answer: False • Question 8 2 out of 2 points Assume that it takes a college student an average of 5 minutes to find a parking spot in the main parking lot. Assume also that this time is normally......

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...Submission: Quiz 2 Review Test Submission: Quiz 2 User Course Test Started Submitted Status Quantitative Methods Quiz 2 Completed Attempt Score 30 out of 40 points Question 1 If two events are not mutually exclusive, then P(A or B) = P(A) + P(B) Selected Answer: Correct Answer: False False 2 out of 2 points Question 2 Probability trees are used only to compute conditional probabilities. Selected Answer: Correct Answer: False False 2 out of 2 points Question 3 2 out of 2 points Seventy two percent of all observations fall within 1 standard deviation of the mean if the data is normally distributed. Selected Answer: Correct Answer: False False Question 4 2 out of 2 points Using the minimax regret criterion, we first construct a table of regrets. Subsequently, for each possible decision, we look across the states of nature and make a note of the maximum regret possible for that decision. We then pick the decision with the largest maximum regret. Selected Answer: Correct Answer: False False Question 5 The Hurwicz criterion is a compromise between the maximax and maximin criteria. Selected Answer: Correct Answer: True True 2 out of 2 points Question 6 The maximin approach involves choosing the alternative with the highest or lowest payoff. Selected Answer: Correct Answer: False False 2 out of 2 points Question 7 The minimin criterion is optimistic. Selected Answer: Correct Answer: True True 2 out of 2......

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...MAT 540 Week 2 Homework - latest 2015 IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://www.hwspeed.com/MAT-540-Week-2-Homework-latest-2015-539000032.htm?categoryId=-1 If You Face Any Problem E- Mail Us At JOHNMATE1122@Gmail.Com Chapter 12 1. A local real estate investor in Orlando is considering three alternative investments: a motel, a restaurant, or a theater. Profits from the motel or restaurant will be affected by the availability of gasoline and the number of tourists; profits from the theater will be relatively stable under any conditions. The following payoff table shows the profit or loss that could result from each investment: Gasoline Availability Investment Shortage Stable Supply Surplus Motel $-8,000 $15,000 $20,000 Restaurant 2,000 8,000 6,000 Theater 6,000 6,000 5,000 Determine the best investment, using the following decision criteria. a. Maximax b. Maximin c. Minimax regret d. Hurwicz (α = 0.4) e. Equal likelihood B A concessions manager at the Tech versus A&M football game must decide whether to have the vendors sell sun visors or umbrellas. There is a 30% chance of rain, a 15% chance of overcast skies, and a 55% chance of sunshine, according to the weather forecast in College...

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...MAT 540 MAT540 Complete Homework Assignment Click below link for Answer or visit www.workbank247.com http://workbank247.com/q/mat540-week-1-to-week-11-homework-latest-2015/10483 http://workbank247.com/q/mat540-week-1-to-week-11-homework-latest-2015/10483 MAT540 Week 1 Homework Chapter 1 1. The Retread Tire Company recaps tires. The fixed annual cost of the recapping operation is $55,000.The variable cost of recapping a tire is $8.The company charges $21 to recap a tire. a. For an annual volume of 10,000 tires, determine the total cost, total revenue, and profit. b. Determine the annual break-even volume for the Retread Tire Company operation. 2. Evergreen Fertilizer Company produces fertilizer. The company’s fixed monthly cost is $30,000, and its variable cost per pound of fertilizer is $0.16. Evergreen sells the fertilizer for $0.40 per pound. Determine the monthly break-even volume for the company. 3. If Evergreen Fertilizer Company in Problem 2 changes the price of its fertilizer from $0.40 per pound to $0.60 per pound, what effect will the change have on the break-even volume? 4. If Evergreen Fertilizer Company increases its advertising expenditures by $14,000 per year, what effect will the increase have on the break-even volume computed in Problem 2? 5. Annie McCoy, a student at Tech, plans to open a hot dog stand inside Tech’s football stadium during home games. There are seven home......

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...MAT 540 Complete Course MAT540 Complete Course Click Link for the Answer: http://workbank247.com/q/mat-540-complete-course-mat540-complete-course/22085 http://workbank247.com/q/mat-540-complete-course-mat540-complete-course/22085 MAT 540 Week 1 Discussion "Class Introductions" Please respond to the following: * Please introduce yourself, including your educational and career goals, as well as some personal information about yourself. In your introduction, please draw from your own experience (or use a search engine) to give an example of how probability is used in your chosen profession. If you get your information from an online or other resource, be sure to cite the source of the information. MAT 540 Week 1 Homework Chapter 1 1. The Retread Tire Company recaps tires. The fixed annual cost of the recapping operation is $65,000. The variable cost of recapping a tire is $7.5. The company charges$25 to recap a tire. a. For an annual volume of 15, 000 tire, determine the total cost, total revenue, and profit. b. Determine the annual break-even volume for the Retread Tire Company operation. 2. Evergreen Fertilizer Company produces fertilizer. The company’s fixed monthly cost is $25,000, and its variable cost per pound of fertilizer is $0.20. Evergreen sells the fertilizer for $0.45 per pound. Determine the monthly break-even volume for the company. 3. If Evergreen Fertilizer Company in problem 2 changes the price of its fertilizer from $0.45 per pound to......

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...MAT 540 ENTIRE COURSE LATEST STRAYER To purchase this visit following link: http://coursehomework.com/product/mat-540-entire-course-latest-strayer/ Contact us at: HELP@COURSEHOMEWORK.COM MAT 540 ENTIRE COURSE LATEST STRAYER MAT 540 WK 1 Homework Chapter 1,11 MAT 540 WK 1 Quiz 1 Chapter 1,11 MAT 540 WK 2 Homework Chapter 12 MAT 540 WK 2 Quiz 2 Chapter 11,12 MAT 540 WK 3 Assignment 1 – JET Copies Case Problem MAT 540 WK 3 Homework Chapter 14 MAT 540 WK 4 Assignment 2 – Internet Field Trip MAT 540 WK 4 Homework Chapter 15 MAT 540 WK 5 Midterm Exam MAT 540 WK 6 Homework Chapter 2 MAT 540 WK 6 Quiz 3 Chapter 2 MAT 540 WK 7 Assignment 3 Case Problem – Julia’s Food Booth MAT 540 WK 7 Homework Chapter 3 MAT 540 WK 8 Homework Chapter 4 MAT 540 WK 8 Quiz 4 Chapter 4 MAT 540 WK 9 Homework Chapter 5 MAT 540 WK 9 Quiz 5 Chapter 9 MAT 540 WK 10 Assignment 4 Case Problem – Stateline Shipping and Transport Company MAT 540 WK 10 Homework Chapter 6 MAT 540 WK 11 Final Exam Course Home Work aims to provide quality study notes and tutorials to the students of MAT 540 Entire Course Latest Strayer in order to ace their studies. MAT 540 ENTIRE COURSE LATEST STRAYER To purchase this visit following link: http://coursehomework.com/product/mat-540-entire-course-latest-strayer/ Contact us at: HELP@COURSEHOMEWORK.COM MAT 540 ENTIRE COURSE LATEST STRAYER MAT 540 WK 1 Homework Chapter 1,11 MAT 540 WK 1 Quiz 1 Chapter 1,11 MAT 540 WK 2 Homework Chapter 12 MAT 540 WK 2......

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...MAT-540 WeeK 8 Assignment 1 http://homeworklance.com/downloads/mat-540-week-8-assignment-1/ You are to solve Problem 30 in Chapter 4 on page 158 of your textbook. It’s about publishing three weekly magazines. You can use QM for Windows to perform a sensitivity analysis for Objective function coefficients and the RHS values of the constraints. Be sure give the shadow price/dual values for an extra hr of production time or an extra lb of paper. Be sure to follow instructions written for Assignment 1, Linear Programming Case Study. Assignment 1. Linear Programming Case Study Your instructor will assign a linear programming project for this assignment according to the following specifications. It will be a problem with at least three (3) constraints and at least two (2) decision variables. The problem will be bounded and feasible. It will also have a single optimum solution (in other words, it won’t have alternate optimal solutions). The problem will also include a component that involves sensitivity analysis and the use of the shadow price. You will be turning in two (2) deliverables, a short writeup of the project and the spreadsheet showing your work. Writeup. Your writeup should introduce your solution to the project by describing the problem. Correctly identify what type of problem this is. For example, you should note if the problem is a maximization or minimization problem, as well as identify the resources that constrain the solution. Identify each variable......

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...MAT-540 WeeK 8 Assignment 1 http://homeworklance.com/downloads/mat-540-week-8-assignment-1/ You are to solve Problem 30 in Chapter 4 on page 158 of your textbook. It’s about publishing three weekly magazines. You can use QM for Windows to perform a sensitivity analysis for Objective function coefficients and the RHS values of the constraints. Be sure give the shadow price/dual values for an extra hr of production time or an extra lb of paper. Be sure to follow instructions written for Assignment 1, Linear Programming Case Study. Assignment 1. Linear Programming Case Study Your instructor will assign a linear programming project for this assignment according to the following specifications. It will be a problem with at least three (3) constraints and at least two (2) decision variables. The problem will be bounded and feasible. It will also have a single optimum solution (in other words, it won’t have alternate optimal solutions). The problem will also include a component that involves sensitivity analysis and the use of the shadow price. You will be turning in two (2) deliverables, a short writeup of the project and the spreadsheet showing your work. Writeup. Your writeup should introduce your solution to the project by describing the problem. Correctly identify what type of problem this is. For example, you should note if the problem is a maximization or minimization problem, as well as identify the resources that constrain the solution. Identify each variable......

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...MAT-540 WeeK 8 Assignment 1 Follow Below Link to Download Tutorial http://homeworklance.com/downloads/mat-540-week-8-assignment-1/ For More Information Visit Our Website ( http://homeworklance.com/ ) Email us At: Support@homeworklance.com or lancehomework@gmail.com You are to solve Problem 30 in Chapter 4 on page 158 of your textbook. It’s about publishing three weekly magazines. You can use QM for Windows to perform a sensitivity analysis for Objective function coefficients and the RHS values of the constraints. Be sure give the shadow price/dual values for an extra hr of production time or an extra lb of paper. Be sure to follow instructions written for Assignment 1, Linear Programming Case Study. Assignment 1. Linear Programming Case Study Your instructor will assign a linear programming project for this assignment according to the following specifications. It will be a problem with at least three (3) constraints and at least two (2) decision variables. The problem will be bounded and feasible. It will also have a single optimum solution (in other words, it won’t have alternate optimal solutions). The problem will also include a component that involves sensitivity analysis and the use of the shadow price. You will be turning in two (2) deliverables, a short writeup of the project and the spreadsheet showing your work. Writeup. Your writeup should introduce your solution to the project by describing the problem. Correctly identify what type of......

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...Quantitative Methods – MAT 540 Student Course Guide Prerequisite: MAT 300 Quarter Meeting Days/Time Instructor Instructor Phone Instructor E-mail Instructor Office Hours/Location Academic Office Phone Number Strayer Technical Support INSTRUCTIONAL MATERIAL – Required ( including all mandatory software) 1-877-642-2999 Taylor, B. M. (2010). Introduction to management science (10th ed.). Upper Saddle River, NJ: Pearson/Prentice Hall. QM for Windows and Treeplan add-on for Excel. This software is available in the Open Lab at Strayer campuses, and can also be downloaded from the textbook's companion website. http://wps.prenhall.com/bp_taylor_introms_10/112/28870/7390751.cw/index.html Scientific Calculator INSTRUCTIONAL MATERIAL - Supporting The following resources provide additional background and supporting information for this course. There is no need to purchase these items for the course. Buglear, J. (2005) Quantitative methods for business: the A to Z. Oxford, U.K.: Elsevier Butterworth-Heinemann. Anderson, D. R., Sweeney, D. J., Williams, T. A., Camm, J. D., Martin, R. K. (2010) Quantitative methods for business. (11th Ed.) Mason, OH: South-western (Cengage). http://www.msubillings.edu/BusinessFaculty/Harris/LP_Problem_intro.htm Dilgard, L. A. (2009, Summer) Worst forecasting practices in corporate America and their solutions -- case studies. Journal of Business Forecasting, 28 (2), 4 - 13. Retrieved from EBSCO-Host Business Premier database. Begley, S. (2004,......

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...Internet Field Trip Forecasting Methods Environmental Scanning Environmental scanning refers to the process of scanning the media to identify emerging issues to enable organizations or individuals to anticipate and respond to changes in the external environment. Scanning is meant to provide strategic intelligence to the strategic planning process by identifying changing trends and potential developments, monitoring them, forecasting their future pattern and assessing their impacts. The objective of scanning is to look over the widest range of possible factors and to identify connections with the organization's function or business, and especially to identify the significant positive or negative effects those could have on the organization and its activities. Scanning may be active or passive. Passive scanning is what most people do when they read journals or newspapers. (Methods and Approaches of Futures Studies) Judgmental Method Judgmental Forecasting is the most common method of actual Forecasting. especially when the decision to be undertaken is critical and exact data required is unavailable or unreliable. Such methods are particularly useful when historical data is scarce. This method is used when the forecaster views himself as an expert in the area. Judgmental Forecasting may be based on theory and/or actual analysis of data, but, no formal decision rule exists to lead to ultimate forecast. It is sometimes argued that subjective analysis is useful......

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...be given to cost, preparation time, accuracy, and time period. The manager must understand clearly the assumptions on which a particular forecast method is based to obtain maximum benefit. 1 Types of Forecasts Short Term Short-range forecasts typically encompass the immediate future and concern the day to day operations of a firm. A short-term forecast usually only covers a period of a few months and can be considered an “operating” forecast. Medium Term Medium-range forecasts typically span a few months up to a year. A forecast of this length can be considered “tactical” in nature. Long Term Long-range forecasts typically encompass a period longer than 1 to 2 years. These forecasts are considered strategic and are generally related to management’s attempt to plan new products or build new facilities. 2 Forecasting Methods Time Series Regression Qualitative 3 Times Series Time Series Forecasting is the use of a model to predict future values based on previously observed values. They use historical data to predict future behavior. Time series analysis comprises methods for analyzing time series data in order to extract meaningful statistics and other characteristics of the data. Time series forecasting is the use of a model to forecast future events based on known past events: to predict data points before they are measured. An example of time series forecasting in econometrics is predicting the opening price of a stock based on its past......

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...Assignment 3: Julia’s Food Booth Quantitative Methods - MAT Assignment #3: Julia’s Food Booth A. Formulate and solve an L.P. model for this case: X1 = pizza slices X2 = hot dogs X3 = B B Q sandwiches This model is set up for the first home game. Next, you would maximize Z = $0.75 x1 + 1.05 x2 + 1.35 x3 which is subject to the following: $0.75x1 + 0.45x2 + 0.90x3 = 2.0 so x1, x2, x3 >=0 X3 All of which is displayed in the graph below. (Note: The oven space needed for a slice of pizza is determined by dividing the total space required by the slice of pizza, 14 x 14 = 196 in^2 by 8 or 24 in^2 per slice. The total space available would be the dimensions of the shelf, 36 in. x 48 in. = 1,728 in^2, multiply that by 2, the times before kickoff and halftime, thus the oven will be filled 55,296in^2. Solution: X1 = 1,250 slices of pizza X2 = 1,250 hot dogs X3 = 0 bbq sandwiches Z = $2,250 | | | | | | | | | Food items: | | Pizza | Hot Dogs | Barbecue | | | | | Profit per item: | 0.75 | 1.05 | 1.35 | | | | | Constraints: | | | | Available | Usage | Left over | | Budget ($) | 0.75 | 0.45 | 0.90 | 1,500 | 1,500.00 | 0 | | Oven space (sq. in.) | 24 | 16 | 25 | 55,296 | 50,000.00 | 5296 | | Demand | 1 | -1 | -1 | 0 | - | 0 | | Demand | 0 | 1 | -2 | 0 | 1,250.00 | -1250 | | | | | | | | | | | Stock | | | | | ...

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