FB2201 Management Sciences II
Topic 4: Project Management (Solutions)
Q13.12
Nicolas Mag is the personnel director of Maian and Manjusri, a company that specializes in
consulting and research. One of the training programs that Nicolas is considering for t

FB2201 Management Sciences II
Topic 3: Decision Analysis (Part 3) (Solutions)
Q3.19
Shir Khan is considering investing some money that he inherited. The following payoff table
gives the profits that would be realized during the next year for each of three

MS2200 Business Statistics (Week 6)
Review Questions
1
Z-table look up and rounding
Z
0.00
0.01
0.02
0.0
0.5000
0.5040
0.5080
0.1
0.5398
0.5438
0.5478
0.2
0.5793
0.5832
0.5871
0.3
0.6179
0.6217
0.6255
2
Example
1.
Weights of a certain population can be as

FB2201 Mock Answer
Q1. IM
Given: D = 18000 C 0 = $200 T = 360 I = 20% C = $3 L = 3
2 200 18000
= 3464.10 cans
20% 3
18000
3464.10
+ 20% 3
Total cost = 200
3464.10
2
2C0 D
=
IC
a. Q* =
= $2078.46
D
18000
=
= 5.20 orders/yr
Q * 3464.1
T
360
= 69.23 days
O

FB2201 Management Science II Mock Mid-term
Time allowed: One hour and Thirty minutes
Question 1a (15 marks)
A petroleum company produces two grades of motor oil grade A and grade B, from two
components. The company wants to determine the optimal mix of th

Solution
Question 1 a
Let Xij be the number of barrels of component i used in motor oil grade j
where i = 1, 2 and
j = A, B
Total Revenue =
Total Cost =
Total Profit =
Maximize
subject to
available component 1
available component 2
at least 50% of compone

Dr. Eman Leung
Office: AC1-G7508
Tel: 3442-8374
Email: emaleung@cityu.edu.hk
1
MS2200 Business Statistics
Week 2 Review:
1. Joint, Compound Events
2. Conditional Probability and Statistical
Independence
3. Sample Statistics vs. Population Parameters (will

MS2200 Business Statistics
Topic 4
Sampling Distributions
Reference
Levine, D.M., Krehbiel, T.C. and Berenson, M.L., Business Statistics: A First Course, 6/e
(International Edition), 2013, Pearson Education Ltd, Chapter 7
1
Outline
Sampling Distribution o

MS2200 Business Statistics
Topic 7
Inference for the Proportion
Reference
Levine, D.M., Krehbiel, T.C. and Berenson, M.L., Business Statistics: A First Course, 6/e
(International Edition), 2013, Pearson Education Ltd, Chapter 7 & 8 & 9
1
Outline
Sampling

1
Dr. Eman Leung
Office: AC1-G7508
Tel: 3442-8374
Email: emaleung@cityu.edu.hk
2
Review Question #1
You are trying to develop a strategy for investing in two different
stocks. The anticipated annual return for a $1,000 investment in
each stock has the fol

MS2200 Business Statistics
Review Questions
1
Z-table look up and rounding
Z
0.00
0.01
0.02
0.0
0.5000
0.5040
0.5080
0.1
0.5398
0.5438
0.5478
0.2
0.5793
0.5832
0.5871
0.3
0.6179
0.6217
0.6255
2
Example
1.
Weights of a certain population can be assumed nor

Dr Susanna TAM
Office: AC1-P7615
Tel: 3442-7483
Email: susannat@cityu.edu.hk
1
What is Statistics?
Statistics
The branch of mathematics that
transforms data into useful information for
decision makers.
Principles of
Probability
Descriptive Statistics
Coll

Upper-Tail Areas
Critical Values of t
For a particular number of degrees of freedom, entry represents
the critical value of t corresponding to a specified upper-tail
area ()
Upper-Tail Areas
Degrees of
Freedom
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18

FB2201 Management Sciences II
Topic 3: Decision Analysis (Part 2) (Solutions)
Q3.33
Jinza Buro is going to help his brother who wants to open a food store. Jinza initially believes
that there is a 50-50 chance that his brothers food store would be a succe

Q1.
FB2200 Management Sciences I: InClassEx. (3) Topic 2
According to the Dental Association, 60% of all dentists use nitrous oxide
(laughing gas) in their practice. Let X be the number of dentists who use
laughing gas in practice in a random sample of fi

FB2201 Management Sciences II
Topic 2: Linear Programming (Part 3) (Solutions)
*Q4.13
(Media Selection) The Win Big Gambling Club promotes gambling junkets from a large
Midwestern city to casinos in the Bahamas. The club has budgeted up to $8,000 per week

FB2201 Mock Mid-term Test
Question 1: Inventory Management
Eleven store is open 360 days a year. Quite independent of the season, daily demand
of soft drinks is roughly constant throughout the year. The annual demand is
estimated to be 18000 cans. Each ca

FB2201 Management Sciences II
Topic 1: Inventory Management (Solutions)
Q6.25
Mael Osas machine shop uses 2,500 brackets during the course of a year, and this
usage is relatively constant throughout the year. These brackets are purchased from a
supplier 1

FB2201 Management Sciences II
Topic 2: Linear Programming (Part 1) (Solutions)
Q7.14
The Yatra Electronics manufactures two electrical products: air conditioners and larger
fans. The assembly process for each is similar in that both require a certain amou

FB2201 Management Sciences II
Topic 5: Forecasting
Q5.14
Data collected on the yearly demand for 50-pound bags of fertilizer at Wallace Garden Supply are shown in the following table.
Develop a three-year moving average to forecast sales. Then estimate de

FB2201 Management Sciences II
Topic 3: Decision Analysis (Part 1) (Solutions)
Q3.21
Ziang Zameen has always been proud of his personal investment strategies and has done very
well over the past several years. He invests primarily in the stock market. Over

MS2200 Business Statistics
Topic 8
Simple Linear Regression
Reference
Levine, D.M., Krehbiel, T.C. and Berenson, M.L., Business Statistics: A First Course, 6/e
(International Edition), 2013, Pearson Education Ltd, Chapter 3 & 12
1
Outline
Linear Associati