Strayer MAT540 Full Course (excpt wk 8 assignment)
MAT540
Week 1 Discussion
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.
MAT540
Week 2 Discussion
Week 2 Discussion
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,
drawing from any of the payoff tables in Problems 117 in the back of Chapter
12. If no probabilities are given for the states of nature, then assume equal
likelihood.
MAT540
Week 3 Discussion
Week 3 Discussion
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, and explain why. Identify resources that can help you with
that.  Explain
how simulation is used in the real world. Provide a specific example from
your own line of work, or a line of work that you find particularly
interesting.
MAT540
Week 4 Discussion
Week 4 Discussion
Discuss
Forecasting Methods
Select one (1) of the following topics for
your primary discussion posting:
 Identify
any challenges you have in setting up a timeseries analysis in Excel.
Explain what they are and why they are challenging. Identify resources
that can help you with that.  Explain
how forecasting is used in the real world. Provide a specific example from
your own line of work, or a line of work that you find particularly
interesting.
MAT540
Week 5 Discussion
Week 4 Discussion
Discuss
Forecasting Methods
Select one (1) of the following topics for
your primary discussion posting:
 Identify
any challenges you have in setting up a timeseries analysis in Excel.
Explain what they are and why they are challenging. Identify resources
that can help you with that.  Explain
how forecasting is used in the real world. Provide a specific example from
your own line of work, or a line of work that you find particularly
interesting.
MAT540
Week 6 Discussion
Week 6 Discussion
Discuss
LP Models
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 the constraints. Explain the difference between
the objective function and the constraints. Then, explain why a constraint
need not refer to all the variables.  Pick
any constraint from any problem in the text, and explain how to plot the
line that corresponds to that constraint.
MAT540
Week 7 Discussion
Week 7 Discussion
Discuss
sensitivity analysis
Select one (1) of the following topics for
your primary discussion posting:
 Identify
any challenges you have in setting up a linear programming problem in
Excel, and solving it with Solver. Explain exactly what the challenges are
and why they are challenging. Identify resources that can help you with
that.  Explain
what the shadow price means in a maximization problem. Explain what this
tells us from a management perspective.
MAT540
Week 8 Discussion
Week 8 Discussion
Practice
setting up linear programming models for business applications
Select an evennumbered LP problem from the
text, excluding 14, 20, 22, 36 (which are part of your homework assignment).
Formulate a linear programming model for the problem you select.
MAT540
Week 9 Discussion
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 programming differ from those of linear
programming. Give specific instances in which you would use an integer
programming model rather than an LP model. Provide realworld examples.  Identify
any challenges you have in setting up an integer programming problem in
Excel, and solving it with Solver. Explain exactly what the challenges are
and why they are challenging. Identify resources that can help you with
that.
MAT540
Week 10 Discussion
Week 10 Discussion
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 transportation
problems. Determine the benefits to be gained from using this model.  Identify
any challenges you have in setting up an transshipment model in Excel, and
solving it with Solver. Explain exactly what the challenges are and why
they are challenging. Identify resources that can help you with that.
MAT540
Week 11 Reflection
Week
11 – Reflection to date
“Reflection
to date”Please respond to the following:• In a
paragraph, reflect on what you’ve learned in this course. Identify the most
interesting, unexpected, or useful thing you’ve learned, and explain how it can
be applied to your work or daily life in some manner.
MAT540 Week 1 Homework
MAT540 Homework
Week 1
Page 1 of 3
MAT540
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 breakeven 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 breakeven volume for the company.
3. If Evergreen Fertilizer Company in problem 2 changes the price of its fertilizer from $0.45 per pound to $0.55 per pound, what effect will the change have on the breakeven volume?
4. If Evergreen Fertilizer Company increases its advertising expenditure by $10,000 per year, what effect will the increase have on the breakeven 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 6 home games scheduled for the upcoming season. She must pay the Tech athletic department a vendor’s fee of $3,000 for the season. Her stand and other equipment will cost her $3,500 for the season. She estimates that each hot dog she sells will cost her $0.40. she has talked to friends at other universities who sell hot dogs at games. Based on their information and the athletic department’s forecast that each game will sell out, she anticipates that she will sell approximately 1,500 hot dogs during each game.
a. What price should she charge for a hot dog in order to break even?
b. What factors might occur during the season that would alter the volume sold and thus the breakeven price Annie might charge?
6. The college of business at Kerouac University is planning to begin an online MBA program. The initial startup cost for computing equipment, facilities, course development and staff recruitment and development is $400,000. The college plans to charge tuition of $20,000 per student per year. However, the university administration will charge the college $10,000 per student for the first 100 students enrolled each year for administrative costs and its share of the tuition payments.
a. How many students does the college need to enroll in the first year to breakeven?
b. If the college can enroll 80 students the first year, how much profit will it make?
MAT540 Homework
Week 1
Page 2 of 3
c. The college believes it can increase tuition to $25,000, but doing so would reduce enrollment to 50. Should the college consider doing this?
Chapter 11
7. The following probabilities for grades in management science have been determined based on past records:
Grade 
Probability 
A 
0.1 
B 
0.2 
C 
0.4 
D 
0.2 
F 
0.10 
1.00 
The grades are assigned on a 4.0 scale, where an A is a 4.0, a B a 3.0, and so on. Determine the expected grade and variance for the course.
8. An investment firm is considering two alternative investments, A and B, under two possible future sets of economic conditions good and poor. There is a .60 probability of good economic conditions occurring and a .40 probability of poor economic conditions occurring. The expected gains and losses under each economic type of conditions are shown in the following table:
Economic Conditions 

Investment 

Good 
Poor 

A 
$380,000 
$100,000 

B 
$130,000 
$85,000 

Using the expected value of each investment alternative, determine which should be selected.
9. The weight of the bags of fertilizer is normally distributed, with a mean of 45 pounds and a standard deviation of 5 pounds. What is the probability that a bag of fertilizer will weigh between 38 and 50 pounds?
MAT540 Homework
Week 1
Page 3 of 3
10. The polo Development Firm is building a shopping center. It has informed renters that their rental spaces will be ready for occupancy in 18 months. If the expected time until the shopping center is completed is estimated to be 15 months, with a standard deviation of 5 months, what is the probability that the renters will not be able to occupy in 18 months?
11. The manager of the local National Video Store sells videocassette recorders at discount prices. If the store does not have a video recorder in stock when a customer wants to buy one, it will lose the sale because the customer will purchase a recorder from one of the many local competitors. The problem is that the cost of renting warehouse space to keep enough recorders in inventory to meet all demand is excessively high. The manager has determined that if 85% of customer demand for recorders can be met, then the combined cost of lost sales and inventory will be minimized. The manager has estimated that monthly demand for recorders is normally distributed, with a mean of 175 recorders and a standard deviation of 55. Determine the number of recorders the manager should order each month to meet 85% of customer demand.
MAT540 Week 2 Homework
MAT540 Homework
Week 2
Page 1 of 4
MAT540
Week 2 Homework
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:
Weather Conditions 

Investment 

Shortage 
Stable Supply 
Surplus 

Motel 
$7,500 
$12,000 
$23,000 

Restaurant 
3000 
7,000 
6,500 

Theater 
5000 
6,000 
4,000 

Determine the best investment, using the following decision criteria.
a. Maximax
b. Maximin
c. Minimax regret
e. Equal likelihood
2. 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 35% chance of rain, a 25% chance of overcast skies, and a 40% chance of sunshine, according to the weather forecast in college junction, where the game is to be held. The manager estimates that the following profits will result from each decision, given each set of weather conditions:
MAT540 Homework
Week 2
Page 2 of 4
Weather Conditions 

Decision 

Rain 
Overcast 
Sunshine 

0.35 
0.25 
0.40 

Sun visors 
$400 
$200 
$1,500 

Umbrellas 
2,100 
0 
800 

a. Compute the expected value for each decision and select the best one.
b. Develop the opportunity loss table and compute the expected opportunity loss for each decision.
3. PlacePlus, a real estate development firm, is considering several alternative development projects. These include building and leasing an office park, purchasing a parcel of land and building an office building to rent, buying and leasing a warehouse, building a strip mall, and selling condominiums. The financial success of these projects depends on interest rate movement in the next 5 years. The various development projects and their 5 year financial return (in $1,000,000s) given that interest rates will decline, remain stable, or increase, are in the following payoff table. PlacePlus real estate development firm has hired an economist to assign a probability to each direction interest rates may take over the next 5 years. The economist has determined that there is a
0.45probability that interest rates will decline, a 0.35 probability that rates will remain stable, and a
0.2 probability that rates will increase.
a. Using expected value, determine the best project.
b. Determine the expected value of perfect information.
Interest Rate 

Project 

Decline 
Stable 
Increase 

Office park 
$0.4 
$1.55 
$3.5 

Office building 
2.5 
1.8 
2.75 

Warehouse 
1.7 
1.45 
1.5 

Mall 
0.8 
2.3 
3.5 

Condominiums 
3.2 
1.5 
0.5 

MAT540 Homework
Week 2
Page 3 of 4
4. The director of career advising at Orange Community College wants to use decision analysis to provide information to help students decide which 2year degree program they should pursue. The director has set up the following payoff table for six of the most popular and successful degree programs at OCC that shows the estimated 5Year gross income ($) from each degree for four future economic conditions:
Economic Conditions 

Degree Program 

Recession 
Average 
Good 
Robust 

Graphic design 
150,000 
175,000 
220,000 
200,000 

Nursing 
160,000 
180,000 
205,000 
215,000 

Real estate 
125,000 
165,000 
220,000 
210,000 

Medical technology 
135,000 
180,000 
210,000 
270,000 

Culinary technology 
110,000 
145,000 
235,000 
205,000 

Computer information 
130,000 
150,000 
190,000 
245,000 

technology 

Determine the best degree program in terms of projected income, using the following decision criteria:
a. Maximax
b. Maximin
c. Equal likelihood
d. Hurwicz (?=0<a rel='nofollow' href='https://www.answersinn.com/cou
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