Submitted By occurmeetjia

Words 1343

Pages 6

Words 1343

Pages 6

Question 1. Determine the break-even volume for the two production options(bath and line)

Suppose the break-even volume should be x units total cost for batch flow production equals 475,000+ 75x total cost for line flow production equals 900,000+60x if 475,000+75x = 900,000+60x , we will have x= 28,334 units.

if more than 28,334 units are produced, the cost of batch flow production will be higher than that of line flow production, and the line production should be used; otherwise, when the volume is lower than 28,334 units, the batch flow production should be used.

Question 2. Determine the net income for each of the six demand and production options

2a. Draw an appropriate decision tree.

Please refer to the lower half of the decision-tree hardcopy handout. Thanks

2b. To maximize the expected value, what is the production decision .

There are three production levels: A. 15,000 units B. 30,000 units C. 40,000 units

From Question 1 we know that the break-even volume is 28,334 units. Therefore, for option A, batch flow production is adopted; while for option B and C, line production method is adopted.

And there are two sales forecast scenarios for Avalanche Racer: a) 35,000 units with probability of 0.6 b) 25,000 units with probability of 0.4.

Other factors include the selling price of Avalanche Racer is $125, and if and only if demand exceeds production, an outside vendor Snowcap is capable of producing for a cost of $ 75 per unit. Unsold units could be sold at $50 per unit.

Considering the net income of the six scenarios: 1) 35,000 units in demand and 15,000 units in supply, which means that 15,000 units will be produced by batch production and extra 20,000 units will be produced by outside vendor Snowcap.

Net Income = Total Income - Total Cost…...

... - 3: am) Children whose parents work between the hours of 6 a.m. and 6 p.m. are less likely to have these problems because they are in school or in after school programs. Chosen Variables The variables qualitative which are Boys between the ages of 13- 17, and Quantitative showing how behavior in the home. I choose this because I work with children at our church and notice that boys this age are less involved in activities than girls. Difference in variable types The difference between qualitative and quantitative variables are Qualitative variables are non numeric which means I can discuss the gender of a person. Quantitative variables are numeric which means I can discuss age, height and weight. They have to be used differently because they don’t relate the same way. Descriptive statistics: Qualitative variable This shows that Males were chosen for the study . Qualitative Quantitative Gender Extrinsic Behavior males Ages 13-16 Explanation of descriptive statistics If more free programs were offered by the schools or churches it could minimize this number. I suggest more mentoring programs thru churches, and more fund raising for after school programs. Descriptive statistics: Quantitative variable Boys ages 13-16 are more prone to poor behavior due to late shifts that parent work. Explanation of descriptive statistics If parents were home at night more attention could be given to children which would cut down the attention getting bad......

Words: 446 - Pages: 2

...Quantitative Business Analysis, Mathematics part, Autumn 2012 Exercise set 1. The due date for this warm-up exercise set is Monday 17.9. at 9:45 (before the ﬁrst exercise group). Please submit your exercise answers to the course box on the 2nd ﬂoor of the Chydenia building. Problem 1. (a) Consider the graph of f (x) = x2 and the line tangent to f (x) at (a, f (a)). The equation of the 1 2 tangent line is y = − 5 x − 25 . Find a, f (a), and the slope of the parabola f (x) at (a, f (a)). 6 (b) Consider the graph of y = x3 . Find the point(s) on the graph where the slope is equal to 11 . (c) The demand function for a commodity with price P is given by the formula D(P ) = a − bP . Find dD(P )/dP . (d) The cost of producing x units of a commodity is given by the formula C(x) = p + qx2 . Find C (x), the marginal cost. Problem 2. (a) Determine the limit limx→0 (3 + 2x2 ). (b) Determine the limit limx→2 (2x2 + 5)3 2 (c) Determine the limit limx→1 x +7x−8 (tip: modify the numerator using similar approach as in the x−1 lecture example) (d) Let f (x) = 4x2 . Show that f (5 + h) − f (5) = 40h + 4h2 . Hence, f (5 + h) − f (5) = 40 + 4h h Using this result, ﬁnd f (5). Problem 3. Use diﬀerentiation rules (not the formal deﬁnition) to do the following: (a) Diﬀerentiate y = √ 3 − 6x2 + 49x − 54 2x 2 (b) Diﬀerentiate y = x − x 2 (c) Diﬀerentiate y = (x + 3x − 5)3 (d) Find the equation of the tangent line to the graph of f (x) = x/(x2 + 2) at x0 = 3. Tip: Given a point on a line and the slope,...

Words: 420 - Pages: 2

...31A00410 Quantitative Business Analysis Statistics Part, Autumn 2012 Problem set 5 The due date for this problem set is Thursday 06.12. at 14:00. Problem 1. A supplier of a raw material has agreed to deliver the material in packages of 20 kg each. As a part of quality control, a random sample of 10 packages were measured. The average weight of packages was 19.2 kg in the sample, and the standard deviation was 0.4. Test the null hypothesis that the expected weight of a package is 20 kg. The following exercises build on the previous Problem Set 4 and the data used therein. See Problem Set 4 for more detailed instructions regarding the data. Problem 2. In the previous problem set we estimated the following regression model using the data of hockey players in the Finnish league for the season 2009-2010: Goals = α + β × Shots-on-goal + ε The data for this exercise were provided in the Excel ﬁle “QBA Stats 4.xls” available on the course website. (a) Estimate the 95% conﬁdence interval for the slope coeﬃcient β. (This can be obtained directly by using the Excel Analysis ToolPak.) (b) Estimate the 99% conﬁdence interval for the slope coeﬃcient β. (The necessary statistics (critical t-value and standard error) can be computed with Excel, but you need to apply the formula for the conﬁdence interval.) Problem 3. In another data set of hockey players in the NHL, you should have estimated a slope coeﬃcient b = 0.1213. Test the hypothesis that β = 0.1213 in the model......

Words: 407 - Pages: 2

...1. The data in the Excel spreadsheet linked below give the ages and salaries of the chief executive officers of 59 companies with sales between $5 million and $350 million. The correlation between age and salary can be characterized as: * 1. Strong and positive. * 2. Strong and negative. * 3. Weak and positive. 4. Weak and negative. By running “correlation” under “data analysis” in excel, we could obtain the following output: | Age | Salary | Age | 1 | | Salary | 0.127555 | 1 | Since r value is 0.127555, positive but far away from 1, the correlation between these two variables is weak and positive. In this case, choice “3” is the right one. Age | Salary ($thousands) | 53 | 145 | 43 | 621 | 33 | 262 | 45 | 208 | 46 | 362 | 55 | 424 | 41 | 339 | 55 | 736 | 36 | 291 | 45 | 58 | 55 | 498 | 50 | 643 | 49 | 390 | 47 | 332 | 69 | 750 | 51 | 368 | 48 | 659 | 62 | 234 | 45 | 396 | 37 | 300 | 50 | 343 | 50 | 536 | 50 | 543 | 58 | 217 | 53 | 298 | 57 | 1103 | 53 | 406 | 61 | 254 | 47 | 862 | 56 | 204 | 44 | 206 | 46 | 250 | 58 | 21 | 48 | 298 | 38 | 350 | 74 | 800 | 60 | 726 | 32 | 370 | 51 | 536 | 50 | 291 | 40 | 808 | 61 | 543 | 63 | 149 | 56 | 350 | 45 | 242 | 61 | 198 | 70 | 213 | 59 | 296 | 57 | 317 | 69 | 482 | 44 | 155 | 56 | 802 | 50 | 200 | 56 | 282 | 43 | 573 | 48 | 388 | 52 | 250 | 62 | 396 | 48 | 572 | | | ...

Words: 2585 - Pages: 11

...AIIAS BUAD635 Quantitative Analysis for Decision-Making Study Guide To accompany the prescribed text: Quantitative Analysis for Management by Render, Stair and Hanna, 11th edition, Prentice Hall, 2012 Unit # 1: Overview and Introduction to Quantitative Analysis Prescribed Text: Quantitative Analysis for Management by Render, Stair and Hanna, 11th edition, Prentice Hall, 2012 – Chapter 1 Objectives of unit 1: After completing this unit, students should be able to: 1. Describe the quantitative analysis approach for management 2. Demonstrate an understanding by applications of quantitative analysis in real world situations 3. Demonstrate the use of modeling in quantitative analysis 4. Use computers and spreadsheet models to perform quantitative analysis 5. Understand the limitations of quantitative analysis 6. Demonstrate/perform break-even analysis. Scope of coverage: Concepts Development 1. Overview of quantitative analysis 2. Defining quantitative analysis 3. The approach to quantitative analysis 4. A quantitative analysis model 5. Using spreadsheet for quantitative analysis 6. Limitation of quantitative analysis Introduction Quantitative analysis for decision-making is the application of a scientific approach to solve management problems. The purpose is to help managers make better decisions. Quantitative analysis......

Words: 19689 - Pages: 79

...Qualitative Analysis There is a common tendency among young analysts to disregard all background information on a company and proceed straight towards analyzing financial statements. In this context, it is well worth stating that interpretation of financial statements is aimed at gauging its financial performance or status. Thus, background information is supportive and not decorative. Qualitative factors involved in appraising IDEA are: [pic] [pic] Who are the owners? What is the shareholding pattern? (e.g. Tatas 35%) Major Stake holder is Aditiya Birla Group. Aditya Birla Group has been ranked fourth in the Global Top Companies for Leaders and first in Asia Pacific in the Top Companies for Leaders’ 2011 study conducted by Aon Hewitt, Fortune and the RBL Group. 470 companies worldwide participated in this study. This recognition is personally heartening for me, given that we have competed against the best of breed global companies. |Shareholding Pattern | | |The shareholding pattern of the Company as on | |March 31, 2012 is as follows: | |Category No. of % Share- | % Share-Shares holding | |Promoter and Promoter Group |45.96 | |Foreign Institutional Investors |15.26 ......

Words: 1758 - Pages: 8

...BUSN311-1302A-02 Quantitative Methods and Analysis Unit 3 DB Leah Murray May 13, 2013 While determining a sample size, the researcher would first need to know how many people, otherwise how many animals would be required because if you do not have enough sample size then it will have an cause on the general study conclusion (2006). The arithmetical power, P level as well as the treatment including the error variability is the factors otherwise; it would be the parameters in order to aids the researchers with choosing the correct sample size for the study (2006). The arithmetical power informs us how powerful the contributing people otherwise the animals in the study is going to be affected with the treatment that will be given to each of them. The P level will assist the researchers in determining the probability for any variation within the topic throughout the study (2006). At last, the investigators have determined the accurate sample size established as to whether or not the remedy predictability for the study is larger than the error predictability. In which it means that some more participants might be needed for the study if the researchers determine to facilitate the affect of the treatment that would happen to be smaller than the error variability (2006). Creative researcher systems as well as the raosoft are survey system companies that provides calculators in order to decide the model size intended for the research investigation. However, for a sample size...

Words: 624 - Pages: 3

...PJM505 - Quantitative Methods in PJM Technical write up on Software tools available for project management to help managers to use quantitative analysis Project Management: A project is temporary in that it has a defined beginning and end in time, and therefore defined scope and resources. And a project is unique in that it is not a routine operation, but a specific set of operations designed to accomplish a singular goal. So a project team often includes people who don’t usually work together – sometimes from different organizations and across multiple geographies. The development of software for an improved business process, the construction of a building or bridge, the relief effort after a natural disaster, the expansion of sales into a new geographic market — all are projects. And all must be expertly managed to deliver the on-time, on-budget results, learning and integration that organizations need. Project management, then, is the application of knowledge, skills and techniques to execute projects effectively and efficiently. It’s a strategic competency for organizations, enabling them to tie project results to business goals — and thus, better compete in their markets. Microsoft Project has a qualitative risk analysis methodology capability But what about quantitative cost and schedule risk analysis? Quantitative risk analysis gives the project manager the ability to see how a project schedule will be affected......

Words: 2624 - Pages: 11

...BIMS Data Collection Jesse Gillen, Melroy Hyman, Joseph Boots, Michael Richards, Megan Hudspeth QNT/351 February 10th, 2015 Mohammad Sharifzadeh, Ph.D BIMS Research Analysis Introduction This report and the two studies conducted within it are to determine the reason for the increased turnover rate at Ballard Integrated Management Systems, Inc.. This report contains how the studies were conducted, the information that was gathered, interpretations of the data and recommendations for management. Study I Overview Ballard Integrated Management Systems, Inc. (BIMS) is experiencing an increased turnover rate with no clear answer why this is happening. The purpose of this study is to investigate why the turnover rate at BIMS has increased. The question that the research is attempting to answer is: What are the factors that may be contributing to the increased turnover rate in each region? Hypothesis Our hypothesis is that each region is going to show a spike of negative feedback to a specific problem. For example, employees working in the hospitality division may show more displeasure for their supervisor than the employees working in the food service division. This spike may indicate the reason for the increased turnover rate. BIMS One of the problems BIMS faces at its Douglas Medical Center site is a 4 percent increase in employee turnover. The root cause of the increased turnover rate has not yet been determined, and the exit interviews have been......

Words: 6911 - Pages: 28

...Ass Analytical chemistry What is Qualitative Analysis? Qualitative analysis is the aspect of analytical chemistry dealing with the identification of elements or compounds in an unknown substance. Very simply put, it answers the question "What is in this sample?" and usually does so with yes/no question. What is Quantitative Analysis? Quantitative chemical analysis is the aspect of analytical chemistry dealing with determining the quantity of a particular chemical is in a substance. In short, it attempts to answer questions involving "How much?" Accuracy: Accuracy refers to the agreement between experimental data and a known value. You can think of it in terms of a bull’s eye in which the target is hit close to the center, yet the marks in the target aren't necessarily close to each other. Accuracy is defined as, "The ability of a measurement to match the actual value of the quantity being measured". If in reality it is 34.0 F outside and a temperature sensor reads 34.0 F, then than sensor is accurate. Precision Precision refers to how well experimental values agree with each other. If you hit a bull’s-eye precisely, then you are able to hit the same spot on the target each time, even though that spot may be distant from the center. Precision is defined as, "(1) The ability of a measurement to be consistently reproduced" and "(2) The number of significant digits to which a value has been reliably measured". If on several tests the temperature......

Words: 623 - Pages: 3

... CLASS 2015 QUANTITATIVE METHODS PERSONAL ASSIGNMENT DATA ANALYSIS BY LORENZO CORONATI Prof. Maurizio Poli Via Bocconi 8 Office room: 517 (5th floor) E-‐Mail: maurizio.poli@sdabocconi.it 1 1. PRELIMINARY ANALYSIS The main scope of the work and the data analysis consist in developing a multiple linear regression model capable of demonstrate the function between ITC cost and the selected independent variables. All data in this work have been extrapolated from Dataset Eurostat Datawherehouse. The statistical units that have been studied are the 15 countries of the European Community as described in table 1. It has been utilized for the analysis a software called ...

Words: 1287 - Pages: 6

...Avalanche Corporation Bayesian Analysis Case Question 1. Determine the break-even volume for the two production options(bath and line) Suppose the break-even volume should be x units total cost for batch flow production equals 475,000+ 75x total cost for line flow production equals 900,000+60x if 475,000+75x = 900,000+60x , we will have x= 28,334 units. if more than 28,334 units are produced, the cost of batch flow production will be higher than that of line flow production, and the line production should be used; otherwise, when the volume is lower than 28,334 units, the batch flow production should be used. Question 2. Determine the net income for each of the six demand and production options 2a. Draw an appropriate decision tree. Please refer to the lower half of the decision-tree hardcopy handout. Thanks 2b. To maximize the expected value, what is the production decision . There are three production levels: A. 15,000 units B. 30,000 units C. 40,000 units From Question 1 we know that the break-even volume is 28,334 units. Therefore, for option A, batch flow production is adopted; while for option B and C, line production method is adopted. And there are two sales forecast scenarios for Avalanche Racer: a) 35,000 units with probability of 0.6 b) 25,000 units with probability of 0.4. Other factors include the selling price of Avalanche Racer is $125, and if and only if demand exceeds production, an outside......

Words: 1343 - Pages: 6

...Final Quantitative Analysis Project Debbie D. Stevenson Grantham University December 1, 2015 Abstract This final assignment for Quantitative Analysis for Management is to apply the knowledge gained from modules 1-7 in solving problems using mathematical techniques for a given company. The company chosen for this final assignment will be Protector and Gamble. Protector and Gamble is a manufacturing company. This paper will address the best practical way too increase revenues and to decrease the cost of Protector and Gamble with techniques learned. Final Quantitative Analysis Project Quantitative analysis (QA) can be described as a scientific approach to managerial decision making (Render, et al 2015). This technique can be described as a behavior using mathematical modeling and research. QA covers variety of applications that can assist business to increase the cost and lower the cost of doing business. The QA approach is to develop a clear and concise approach to the problem and correct them. Protector and Gamble (P & G) is a business that produce several product such as, detergent, beauty products, healthcare and grooming products etc. With today market competing firms has attempted to duplicate their products with cheaper/generic ingredients similar to their product which results in a decrease in the revenue. Protector and Gamble needs to address this problems using quantitative analysis techniques and decision making concepts. Protector and Gamble......

Words: 764 - Pages: 4

...QUANTITATIVE ANALYSIS: DESCRIPTIVE STATISTICS Introduction Suppose that we have carried out a survey on the effect of carrying out a management audit with three groups of nine participant institutions each i.e. small medium and large. Each group was given the same survey questions in questionnaire format and the answers from the scores were tagged between 0 and 20. What is to be done with the raw scores? There are two key types of measures that can be taken whenever we have a set of scores from participants in a given condition. First, there are measures of central tendency, which provide some indication of the size of average or typical scores. Second, there are measures of dispersion, which indicate the extent to which the scores cluster around the average or are spread out. Various measures of central tendency and of dispersion are considered next. For this assignment, a survey is the type of data collection method in consideration and how the results of that survey would be analysed. SURVEYS Surveys are a very popular form of data collection, especially when gathering information from large groups, where standardization is important. Surveys can be constructed in many ways, but they always consist of two components: questions and responses. While sometimes evaluators choose to keep responses “open ended,” i.e., allow respondents to answer in a free flowing narrative form, most often the “close-ended” approach in which respondents are asked to select from a range......

Words: 1936 - Pages: 8

...BUSN311: Quantitative Methods and Analysis The qualitative data used in this analysis broke down the numbers between men and women employees of the American Intellectual Union (AIU). The demographics of men far outweighed the women in this job with 40 men verses the smaller number of 12 women. This particular data was collected to express the number of each gender both male and female employees. The results clearly demonstrate that this profession is heavily dominated by males. This data could potentially identify links in job satisfaction in any given profession. The purpose of this study was to identify contributing factors associated with job satisfaction or dissatisfaction of both male and female employees in the AIU by demographic characteristic (Cano, Miller). Gender Breakdown 40 Males 12 Females Mean 1.230769231 Median 1 Mode 1 Standard Deviation 0.425436 Sample Variance 0.180995 The quantitative methodology used in the study of employees of the American Intellectual Union was intrinsic. Depending on the type of information required for this study, a parameter must use a constant that is most appropriate for the study. In this case, the intrinsic data focused on the level of job satisfaction. The range was from 1-7 with 7 being the highest level of satisfaction and 1 being the least satisfied. The range in this study fell mostly......

Words: 529 - Pages: 3