- Math
-
Flashcards
-
Learn
-
Test
-
Match
-
Flashcards
-
Learn
-
Test
-
Match
Terms in this set [46]
ADVANCED MATH
Shoemakers of America forecasts the following demand for each of the next six months: month 1—5,000 pairs; month 2—6,000 pairs; month 3—5,000 pairs; month 4—9,000 pairs; month 5—6,000 pairs; month 6—5,000 pairs. It takes a shoemaker 15 minutes to produce a pair of shoes. Each shoemaker works 150 hours per month plus up to 40 hours per month of overtime. A shoemaker is paid a regular salary of $2,000 per month plus$50 per hour for overtime. At the beginning of each month, Shoemakers can either hire or fire workers. It costs the company $1,500 to hire a worker and$1,900 to fire a worker. The monthly holding cost per pair of shoes is 3% of the cost of producing a pair of shoes with regular-time labor. [The raw materials in a pair of shoes cost $10.] Formulate an LP that minimizes the cost of meeting [on time] the demands of the next six months. At the beginning of month 1, Shoemakers has 13 workers.
Verified answer
ADVANCED MATH
Verified answer
ADVANCED MATH
Verified answer
ADVANCED MATH
Absorbing Markov chains are used in marketing to model the probability that a customer who is contacted by telephone will eventually buy a product. Consider a prospective customer who has never been called about purchasing a product. After one call, there is a 60% chance that the customer will express a low degree of interest in the product, a 30% chance of a high degree of interest, and a 10% chance the customer will be deleted from the company’s list of prospective customers. Consider a customer who currently expresses a low degree of interest in the product. After another call, there is a 30% chance that the customer will purchase the product, a 20% chance the person will be deleted from the list, a 30% chance that the customer will still possess a low degree of interest, and a 20% chance that the customer will express a high degree of interest. Consider a customer who currently expresses a high degree of interest in the product. After another call, there is a 50% chance that the customer will have purchased the product, a 40% chance that the customer will still have a high degree of interest, and a 10% chance that the customer will have a low degree of interest. a. What is the probability that a new prospective customer will eventually purchase the product? b. What is the probability that a low-interest prospective customer will ever be deleted from the list? c. On the average, how many times will a new prospective customer be called before either purchasing the product or being deleted from the list?
Verified answer
Recommended textbook solutions组合数学
5th EditionRichard A. Brualdi
685 solutions
Tonal Harmony, Workbook
8th EditionByron Almen, Dorothy Payne, Stefan Kostka
1,387 solutions
The Language of Composition: Reading, Writing, Rhetoric
2nd EditionLawrence Scanlon, Renee H. Shea, Robin Dissin Aufses
661 solutions
America's History for the AP Course
9th EditionEric Hinderaker, James A. Henretta, Rebecca Edwards, Robert O. Self
961 solutions
Ways of the World: A Global History
3rd EditionRobert W. Strayer
232 solutions