Hw 3 Predective analytics

 

Q1 to Q4 are from Managerial Report for Case 1 in Chapter 4.

Develop a model that can be used to determine the advertising budget allocation for the Flamingo Grill.

Feel free to use my outline of Excel spreadsheet.

What are the optimal total exposure and the total number of potential new customers reached?

Question options:

	A)  total exposure = 2510 and total new customers = 167000
	B)  total exposure = 2045 and total new customers = 118200
	C)  total exposure = 2160 and total new customers = 127100
	D)  None of above
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Question 2

4 / 4 points

See Q1. How would the total exposure change if an additional $10,000 were added to the advertising budget?

Question options:

	A)  increase by 55
	B)  increase by 100
	C)  increase by 50
	D)  None of above
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Question 3

4 / 4 points

See Q1. Will the optimal solution (numbers of ads for each media) change if the exposure per ad for newspaper for number of ads is greater than 20 increases from 5 to 5.8?

Question options:

	A)  will not change as allowable increase is 5
	B)  will not change as allowable increase is 0.87
	C)  change as allowable increase is 0.5
	D)  None of above
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Question 4

0 / 5 points

See Q1. After reviewing HJs recommendation, the Flamingos management team asked how the recommendation would change if the objective of the advertising campaign was to maximize the number of potential new customers reached.

Develop the media schedule under this objective. What is the maximum number of customers?

Hint: Remove the corresponding constraint (the one involving at least 100,000 customers) in the linear programming model and use it to develop the new objective function:

MAX 4000T1+1500T2+2000R1+1200R2+1000N1+800N2

Question options:

	A)  167000
	B)  139600
	C)  161200
	D)  None of above
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Question 5

1 / 1 point

A company makes two products from steel; one requires 2 tons of steel and the other requires 3 tons. There are 100 tons of steel available daily. A constraint on daily production could be written as: 2x₁ + 3x₂ ≤ 100.

Question options:

	A) True
	B) False
Question 6		1 / 1 point

Compared to the problems in the textbook, real-world problems generally require more variables and constraints.

Question options:

	A) True
	B) False
Question 7		1 / 1 point

For the multiperiod production scheduling problem in the textbook, period n − 1's ending inventory variable was also used as period n's beginning inventory variable.

Question options:

	A) True
	B) False
Question 8		1 / 1 point

A company makes two products, A and B. A sells for $100 and B sells for $90. The variable production costs are $30 per unit for A and $25 for B. The company's objective could be written as: MAX 190x₁ − 55x₂.

Question options:

	A) True
	B) False
Question 9		1 / 1 point

A decision maker would be wise to not deviate from the optimal solution found by an LP model because it is the best solution.

Question options:

	A) True
	B) False
Question 10		2 / 2 points

​In a production scheduling LP, the demand requirement constraint for a time period takes the form

Question options:

	A)  ​beginning inventory + production + ending inventory > demand.
	B)  ​beginning inventory - production + ending inventory = demand.
	C)  ​beginning inventory + production - ending inventory = demand.
	D)  ​beginning inventory - production - ending inventory > demand.

Done

          

Replies

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reply-1

           Conversion of empirical data as groups and handling skewness impact on data dispersion is a common scenario. This is effective for managing the issues of overlapping values to focus on constraints. Grouping using a quartile is a common technique used in this process. There would be extreme values influencing the distribution of content. This scenario creates disproportion and impacts statistical metrics. The outliers in these values could result in non-linear relationships with the complete range of skewed elements. Interpreting these outcomes could be difficult as modifications occur with skewed elements. Separating the content as quartile ranges develops categories with a suitable number of entries and decreases randomness.

Reply-2

           The data grouping process includes different parts that create groups with nearly the same extent of observations. This also decreases the influence of outliers. As the values are segregated into minimum or maximum levels, the impact of the value would be reduced. Binary transformation is possible for using beyond the threshold and critically coded as either 0 or 1. Observing the mean results in every quartile also identifies a monotony association that could be enclosed using line graphs and equations. Observing the mean results in every quartile creates possibilities for identifying line models. Comparison of results across similar-size groups develops intuitive results rather than studying continuous modifications with skewness.