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i) N-person game is a game involving n persons
ii) Saddle point is that position in the payoff matrix where maximum of row minima is equal to the minimum of column maxima
iii) A strategy is the number of competitive actions, choices or alternatives that are available for a player.
iv) Rules of dominance are the guidelines that assist to identify an inferior strategy from others. The rule is that if all elements in a column (or row) are greater than/equal to corresponding element in another column (or row) then that column (or row) is eliminated.
Wilfykil answered the question on February 20, 2019 at 09:03
- Zadock ltd. manufactures various kinds of furniture namely ordinary chairs, baby cots, and executive chairs. All the products use raw material (wood), machine time (lathe)...(Solved)
Zadock ltd. manufactures various kinds of furniture namely ordinary chairs, baby cots, and executive chairs. All the products use raw material (wood), machine time (lathe) and manual labour (technicians). The requirements for the furniture are summarised as below.
Required:
i) Formulate the linear programming problem into standard form for input to the computer spreadsheet
ii) What are the units of each kind of furniture to be produced to maximise profits. What is the maximum profit?
iii) Is there any resource that is not used up? For the used up resource if any, how much would you pay for one additional unit.
Date posted: February 20, 2019. Answers (1)
- What are the underlying assumptions in linear programming?(Solved)
What are the underlying assumptions in linear programming?
Date posted: February 20, 2019. Answers (1)
- The following data relates business turnover and staff of fast moving consumer goods company EAI Ltd:(Solved)
The following data relates business turnover and staff of fast moving consumer goods company EAI Ltd:
Required:
i) Fit an appropriate regression equation.
ii) Estimate the staff requirement when business turnover reaches Sh.200 Million
Date posted: February 20, 2019. Answers (1)
- With reference to linear regression define the following terms:
i) Scatter diagram.
ii) Bivariate distribution.
iii) Positive correlation.
iv) Confidence interval.
v) Auto correlation(Solved)
With reference to linear regression define the following terms:
i) Scatter diagram.
ii) Bivariate distribution.
iii) Positive correlation.
iv) Confidence interval.
v) Auto correlation
Date posted: February 20, 2019. Answers (1)
- A research studying the role of stress and its implication on personal life in respect of job change over by low cadre staff, came up...(Solved)
A research studying the role of stress and its implication on personal life in respect of job change over by low cadre staff, came up with the following data. It relates to 30 firms over 3-year period
By fitting a Poisson distribution to get expected frequency, test its goodness of fit.
Date posted: February 20, 2019. Answers (1)
- Define the goodness of fit test. How is it applied in accounting?(Solved)
Define the goodness of fit test. How is it applied in accounting?
Date posted: February 20, 2019. Answers (1)
- Given the following distribution of wages for 500 technicians in motor companies in industrial area.(Solved)
Given the following distribution of wages for 500 technicians in motor companies in industrial area.
A technician is chosen from the above group. What is the probability that his wages are?
i) Under KSh 5,000
ii) Above KSh 6,000
iii) Between KSh 5,000 and KSh 6,000
Date posted: February 20, 2019. Answers (1)
- In connection with probability, define the following terms:
i) Compound event
ii) Mutually exclusive events
iii) Collective exhaustive events
iv) Equally likely events
v) Conditional probability(Solved)
In connection with probability, define the following terms:
i) Compound event
ii) Mutually exclusive events
iii) Collective exhaustive events
iv) Equally likely events
v) Conditional probability
Date posted: February 20, 2019. Answers (1)
- A survey by Marketing Society here in Kenya found out the following buying habits of household air conditioners considered a luxury.(Solved)
A survey by Marketing Society here in Kenya found out the following buying habits of household air conditioners considered a luxury.
Required:
i)Calculate the arithmetic mean, median and mode. (5 marks)
ii) Does the survey show that the luxury item is consumed by high-income earners? Show your answer by calculating appropriate measure of skewness
Date posted: February 20, 2019. Answers (1)
- Define the following terms as used in measures of dispersion:
i) Platykurtic versus leptokurtic and mesokurtic.
ii) Coefficient of skewness.
iii) Quartile deviation.(Solved)
Define the following terms as used in measures of dispersion:
i) Platykurtic versus leptokurtic and mesokurtic.
ii) Coefficient of skewness.
iii) Quartile deviation.
Date posted: February 20, 2019. Answers (1)
- Three industries, packaging P, Bakery B, and Flour F are related with the intermediate demand matrix below.(Solved)
Three industries, packaging P, Bakery B, and Flour F are related with the intermediate demand matrix below.
Required:
i)Determine the total output for products of industries P, B and F. (10 marks)
ii) Comment on the total output for industries.
Date posted: February 20, 2019. Answers (1)
- Write down short notes on:
i) Final demand.
ii) Technical coefficients.
iii) Closed model versus open model(Solved)
Write down short notes on:
i) Final demand.
ii) Technical coefficients.
iii) Closed model versus open model
Date posted: February 20, 2019. Answers (1)
- Lillian Wambugu is the project manager of Jokete Construction Company. The company is bidding a contract to install telephone lines in a small town. It...(Solved)
Lillian Wambugu is the project manager of Jokete Construction Company. The company is bidding a contract to install telephone lines in a small town. It has identified the following activities along with their predecessor restrictions, expected times and worker requirements:
Lillian Wambugu has agreed with the client that the project should be completed in the shortest duration.
Required:
i) Draw a network for the project.
ii) Determine the critical path and the shortest project duration.
iii) Lillian Wambugu will assign a fixed number of workers to the project for its entire duration and so she would like to ensure that the minimum number of workers is assigned and that the project will be completed in 14 weeks. Draw a schedule showing how the project will be completed in 14 weeks
iv) Comment on the schedule you have drawn in (iii) above.
Date posted: February 20, 2019. Answers (1)
- State four attributes of the Beta distribution which made it to be chosen as representing the distribution of activity times in project evaluation and review...(Solved)
State four attributes of the Beta distribution which made it to be chosen as representing the distribution of activity times in project evaluation and review technique (PERT).
Date posted: February 20, 2019. Answers (1)
- Explain the four different methods or approaches for organizing and displaying project information(Solved)
Explain the four different methods or approaches for organizing and displaying project information
Date posted: February 20, 2019. Answers (1)
- A small construction project involves the following activities:
Required:
i) Determine the shortest time and associated cost to finish this project.
ii) If a penalty of Sh.4,500 must...(Solved)
A small construction project involves the following activities:
Required:
i) Determine the shortest time and associated cost to finish this project.
ii) If a penalty of Sh.4,500 must be charged for every day beyond 12 days, what is the most economical time for completing the project?
Date posted: February 20, 2019. Answers (1)
- Consider the following project network and activity times (in weeks)
Required:
i) How long will it take to finish this project?
ii) Can activity D be delayed without...(Solved)
Consider the following project network and activity times (in weeks)
Required:
i) How long will it take to finish this project?
ii)Can activity D be delayed without delaying the entire project? If so, by how many weeks?
iii)What is the schedule for activity E?
Date posted: February 20, 2019. Answers (1)
- Explain the following terms used in network analysis:
i) Network planning;
ii) Activities;
iii) Events;
iv) Critical path;
v) Float.(Solved)
Explain the following terms used in network analysis:
i) Network planning;
ii) Activities;
iii) Events;
iv) Critical path;
v) Float.
Date posted: February 20, 2019. Answers (1)
- Consider a project which has been modeled as follows:
Required:
a) Determine the project?s expected completion time and its critical path.
b) Can activities E and G be...(Solved)
Consider a project which has been modeled as follows:
Required:
a) Determine the project‟s expected completion time and its critical path.
b) Can activities E and G be performed at the same time without delaying the completion of the project?
c) Can one person perform activities A, G and I without delaying the project?
d) By how much time can activities G and L be delayed without delaying the entire project?
e) By how much time would the project be delayed if activity G were delayed by 3 hours and activity L by 4 hours? Explain.
Date posted: February 20, 2019. Answers (1)
- Consider the cost-time estimates for the product development project as given in the table below.(Solved)
Consider the cost-time estimates for the product development project as given in the table below.
Indirect cost is made up of two components: Fixed cost of $5,000 and a variable cost of $1,000 per week of elapsed time. Also, for each week the project exceeds 17 weeks, an opportunity cost of $2,000 per week is assessed.
Construct a time chart for the minimum total cost schedule.
Date posted: February 20, 2019. Answers (1)