Jim’s Superior’s Ratings of the Activities Assignment Help With Solution

Jim’s Superior’s Ratings of the Activities Assignment Help

1.Jim Hill is the manager of subscriber accounts for the prosper Company. The results of a job analysis indicate that Jim’s job includes four principal activities. A summary of Jim’s superior’s ratings of the activities and Jim’s performance of each of them as follows:

 Principal Activity Time Frequency Importance Jim’s performance (0-2) 1 4.5 3 1.00 2 3.0 5 2.00 3 6.0 2 0.50 4 1.0 7 1.00

Assuming Jim is paid \$62,000 per years, use CREPID to estimate the overall economic value of his job performance.

2.Students in a management science class have just received their grades on the first test. The instructor has provided information about the first test grades in some previous classes as well as the final average for the same students. Some of these grades have been sampled and are as follows:

 STUDENT 1 2 3 4 5 6 7 8 9 1ST TEST GRADE 98 77 88 80 96 61 66 95 69 FINAL AVERAGE 93 78 84 73 84 64 64 95 76

(a) Develop a regression model that could be used to predict the final average in the course based on the first test grade.

(b) Predict the final average of a student who made an 83 on the first test.

(c) Give the values of r and r-square for this model.Interpret the value of r-square in the context of this problem.

3.The following table gives the average monthly exchange rate between the U.S. dollar and the euro for 2009. It shows that 1 euro was equivalent to 1.324 U.S. dollars in January 2009. Develop a trend line that could be used to predict the exchange rate for 2010. Use this model to predict the exchange rate for January 2010 and February 2010.

 MONTH EXCHANGE RATE January 1.324 February 1.278 March 1.305 April 1.320 May 1.363 June 1.402 July 1.409 August 1.427 September 1.456 October 1.482 November 1.491 December 1.461

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4.Lila Battle has determined that the annual demand for number 6 screws is 100,000 screws. Lila, who works in her brother’s hardware store, is in charge of purchasing. She estimates that it costs \$10 every time an order is placed. This cost includes her wages, the cost of the forms used in placing the order, and so on. Furthermore, she estimates that the cost of carrying one screw in inventory for a year is one-half of 1 cent. Assume that the demand is constant throughout the year.

(a) How many number 6 screws should Lila order at a time if she wishes to minimize total inventory cost?

(b) How many orders per year would be placed? What would the annual ordering cost be?

(c) What would the average inventory be? What would the annual holding cost be? It takes approximately 8 working days for an order of number 6 screws to arrive once the order has been placed.The demand for number 6 screws is fairly constant, and on the average, Lila has observed that her brother’s hardware store sells 500 of these screws each day. Because the demand is fairly constant, Lila believes that she can avoid stockouts completely if she only orders the number 6 screws at the correct time. What is the ROP?

5.Elizabeth Bailey is the owner and general manager of Princess Brides, which provides a wedding planning service in Southwest Louisiana. She uses radio advertising to market her business. Two types of ads are available—those during prime time hours and those at other times. Each prime time ad costs \$390 and reaches 8,200 people, while the offpeak ads each cost \$240 and reach 5,100 people. Bailey has budgeted \$1,800 per week for advertising. Based on comments from her customers, Bailey wants to have at least 2 prime time ads and no more than 6 off peak ads.

(a) Formulate this as a linear program.

(b) Find a good or optimal integer solution part(a)by rounding off or making an educated guess at the answer.

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