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What is Laplace criterion? How does it differ from Hurwicz criterion?
(Solved)
What is Laplace criterion? How does it differ from Hurwicz criterion?
Date posted:
February 20, 2019
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Answers (1)
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A fruit/juice kiosk along Lusaka road, VegFresh kiosk has come up with the following formulae of making natural juice for its industrial area customers
(Solved)
A fruit/juice kiosk along Lusaka road, VegFresh kiosk has come up with the following formulae of making natural juice for its industrial area customers
- 5 litres lemonade: 2 dozen lemon, 2 kg of sugar, 2 ounces of citric acid and water
- 5 litres grapefruit: 11/2 kg grape fruit, 11/2 kg of sugar, 1 ounces of citric acid and water
- 5 litres orangeade: 11/2 dozen of oranges, 11/2 kg of sugar, 1 ounces of citric acid and water
The selling prices of the fruit juices per every 5 litre are:
Lemonade: Sh. 37.50
Grapefruit: Sh. 40.00
Orangeade: Sh. 42.50
During the cold weather season (May 2002) VegFresh kiosk had in stock 2,500 dozen lemons,2,000 kg grape fruit, 750 dozen oranges, 5,000 kg of sugar and 3,000 ounces of citric acid
Required:
i) Formulate the linear programming problem
ii) Formulate the dual of this primal
Date posted:
February 20, 2019
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Answers (1)
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Given the following data of production of vehicles by a local car assembly KMA Ltd. Determine the deseasonalised data and using the forecasting relationship forecast...
(Solved)
Given the following data of production of vehicles by a local car assembly KMA Ltd. Determine the deseasonalised data and using the forecasting relationship forecast the production in May 2003.
Date posted:
February 20, 2019
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Answers (1)
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What are the steps in time-series decomposition?
(Solved)
What are the steps in time-series decomposition?
Date posted:
February 20, 2019
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Answers (1)
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Forecasting is the attempt to predict the future by using qualitative or quantitative means. Discuss the qualitative and QUANTITATIVE ANALYSIS available for managers in predicting...
(Solved)
Forecasting is the attempt to predict the future by using qualitative or quantitative means. Discuss the qualitative and QUANTITATIVE ANALYSIS available for managers in predicting the future.
Date posted:
February 20, 2019
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Answers (1)
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i)Explain the meaning of a random variable
ii) Zebro Match Manufacturers finds that 5% of the matches in a box are defective. Determine the probability that...
(Solved)
i)Explain the meaning of a random variable
ii) Zebro Match Manufacturers finds that 5% of the matches in a box are defective. Determine the probability that out of a box containing 50 match sticks:
a) None will be defective
b) If the guarantee is not more than 4 will be defective, what is the probability that the box wil meet guarantee quality?
Date posted:
February 20, 2019
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Answers (1)
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What is a Venn diagram? How can it be used to determine probability of a given event?
(Solved)
What is a Venn diagram? How can it be used to determine probability of a given event?
Date posted:
February 20, 2019
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Answers (1)
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Write short notes on the following:
i) Price relatives.
ii) Fixed base method.
iii) Chain base method.
iv) Weighted index number.
v) Quantity index number.
(Solved)
Write short notes on the following:
i) Price relatives.
ii) Fixed base method.
iii) Chain base method.
iv) Weighted index number.
v) Quantity index number.
Date posted:
February 20, 2019
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Answers (1)
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Kiko Manufacturing Ltd. wants to take a decision of introducing a new soap Kikope. The cost for introducing Kikope (Initial advertising, promotion and fixed cost...
(Solved)
Kiko Manufacturing Ltd. wants to take a decision of introducing a new soap Kikope. The cost for introducing Kikope (Initial advertising, promotion and fixed cost for one year of production) is estimated at Ksh.30,000. The variable cost per bar of soap is Ksh.30 and the expected selling price is Ksh.50.
Required:
Draw the cost, revenue and profit functions and from it:
i) Determine the break-even level of production.
ii) Determine the profit on the sale of 2,500 soap bars.
Date posted:
February 20, 2019
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Answers (1)
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Peter and Ngomongo are second hand dealers of electronic equipment and shoes along Baricho road.
Due to hard economic times and restriction by City Council, sales...
(Solved)
Peter and Ngomongo are second hand dealers of electronic equipment and shoes along Baricho road. Due to hard economic times and restriction by City Council, sales have been decreasing. Each of them came up with strategies to expand into the other business (they have monopoly now). Each of them knows what the other is considering thus influences each others decision. Peter had the following matrix of profit per day.
Required:
i) Interpret the matrix.
ii) Solve the game to determine the average winning (loss) each cousin would have
Date posted:
February 20, 2019
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Answers (1)
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What are the underlying assumptions in linear programming?
(Solved)
What are the underlying assumptions in linear programming?
Date posted:
February 20, 2019
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Answers (1)
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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
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Answers (1)
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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
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Answers (1)
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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
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Answers (1)
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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
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Answers (1)
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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
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Answers (1)
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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
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Answers (1)
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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
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Answers (1)
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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
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Answers (1)
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Consider the simplified scenario for the development of a consumer product through the market test phase
shown in the table below.
(Solved)
Consider the simplified scenario for the development of a consumer product through the market test phase
shown in the table below.
a) Draw the network for this project.
b) Calculate the slacks and interpret their meaning.
c) Determine the critical path and interpret its meaning.
d) Construct a time chart and identify scheduling flexibilities
Date posted:
February 20, 2019
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Answers (1)