Hoylake Rescue Squad
Probability of Time between calls
P(x)
0.15
0.1
0.2
0.25
0.2
0.1
1
Simulation
Cumulative
(lower
Time between
bound)
calls
0
1
0.15
2
0.25
3
0.45
4
0.7
5
0.9
6
EV =
3.55
Average Ti
Decision
Investment
Motel
Restaurant
Theater
Payoff table B C D E
States of Nature
Gasoline Availablity
Shortage
Stable Supply
-$7,500
$12,000
$3,000
$7,000
$5,000
$6,000
Maximax decision =
Maximin de
Question 1
cf
55000
10000 tires
Part A
breakeven
Part B
Question 2
cf
30000
breakeven
company cost (cv)
company charges
profit (z)
8
21
13
80000
210000 130000
total cost is
total revenue
total profit
Week 1 Activity
This activity was a little interesting. I didnt realize how much we use probability in our everyday lives
and profession. Of course I have been in the health field for quite a while an
MAT540 Homework
Week 7
Page 1 of 3
MAT540
Week 7 Homework
Chapter 3
1.
Southern Sporting Good Company makes basketballs and footballs. Each product is produced from
two resources rubber and leather. E
1. transportation problem
From
A
B
C
DV
From
A
B
C
Constraint
Demand
Objective Minimize Cost
1
$6
11
4
To (cost)
2
$5
8
10
3
$5
9
7
1
0.00
0.00
70.00
70.00
=
70
To
2
100.00
0.00
0.00
100.00
=
100
3
50
Cab Company Scheduling
let Di = # of drivers who start their 8 hour shift in period I (I = 1,2,3,4,5,6)
period 1
12:00:00 AM-4:00am
period 4
12 noon - 4:00pm
period 2
4:00am - 8:00am
period 5
4:00pm -
Week 9 discussion
Discuss characteristics of integer programming problems
Select one (1) of the following topics for your primary discussion posting:
Explain how the applications of Integer programmin
Week 4 Dicussion
Discuss Forecasting Methods
Select one (1) of the following topics for your primary discussion posting:
Identify any challenges you have in setting up a time-series analysis in Excel.
Week 2
In your own words, explain how to obtain the expected value of perfect information for any
payoff table, which has probabilities associated with each state of nature. Then, provide an
example,
Week 5 Discussion
"Reflection to date" Please respond to the following:
In a paragraph, reflect on what you've learned so far in this course. Identify the most
interesting, unexpected, or useful thing
Week 3
Discuss Simulation
Select one (1) of the following topics for your primary discussion posting:
Identify the part of setting up a simulation in Excel that you find to be the most
challenging, an
Week 6 Discussion
Select one (1) of the following topics for your primary discussion posting:
The objective function always includes all of the decision variables, but that is not
necessarily true of
Week 10
Discussion assignment and transshipment problems
Select one (1) of the following topics for your primary discussion posting:
Explain the assignment model and how it facilitates in solving tran
Week 7
Select one (1) of the following topics for your primary discussion posting:
Identify any challenges you have in setting up a linear programming (LP) problem in
Excel, and solving it with Solver
Week 8 Discussion chapter 4
Practice setting up linear programming models for business applications
Select an even-numbered LP problem from the text, excluding 14, 20, 22, 36 (which are part of
your h