# Kaplan MM305 Unit 7 Project Assignment 2016

1.
Even though independent gasoline stations have been having a difficult time,
Susan Solomon has been thinking about starting her own independent gas
station. Susan’s problem is to decide
how large her station should be. The
annual returns will depend on both the size of the station and a number of
marketing factors related to oil industry and demand for gasoline. After careful analysis, Susan developed the
following table:

Size of Gasoline
Station

Good
Market (\$)

Fair
Market (\$)

Poor
Market (\$)

Small

\$75,000

\$25,000

-\$10,000

Medium

\$100,000

\$70,000

-\$20,000

Large

\$250,000

\$75,000

-\$30,000

You may use
Excel QM or QM for Windows:

1.
What
is the Maximax decision?
Answer:

Explanation (include software output or calculation):

2.
What
is the Maximin decision?
Answer:

Explanation (include software output or calculation):

3.
What
is the criterion of realism decision? Use ? = 0.3.
Answer:

Explanation (include software output or calculation):

4.
Develop
an Opportunity Loss Table.
Table:

5.
What
is the Minimax Regret Decision?

Answer:

2. Data collected on the
yearly demand for 50-pound bags of fertilizer at Sunshine Garden Supply are
shown in the following table.

Year

Demand
for Fertilizer (1,000s of Bags)

1

5

2

8

3

5

4

6

5

6

6

7

7

8

8

10

9

12

10

14

11

16

1.
Develop
a three-year moving average to forecast sales in year 12.
Answer:14,000 bags

Sunshine Garden

Forecasting

Moving averages
– 3 period moving average

Num pds

3

Data

Forecasts and Error Analysis

Period

Demand

Forecast

Error

Absolute

Squared

Abs Pct Err

Period 1

5

Period 2

8

Period 3

5

Period 4

6

6

0

0

0

00.00%

Period 5

6

6.333333333

-0.333333333

0.333333333

0.111111111

05.56%

Period 6

7

5.666666667

1.333333333

1.333333333

1.777777778

19.05%

Period 7

8

6.333333333

1.666666667

1.666666667

2.777777778

20.83%

Period 8

10

7

3

3

9

30.00%

Period 9

12

8.333333333

3.666666667

3.666666667

13.44444444

30.56%

Period 10

14

10

4

4

16

28.57%

Period 11

16

12

4

4

16

25.00%

Total

17.33333333

18

59.11111111

159.56%

Average

2.166666667

2.25

7.388888889

19.95%

Bias

MAD

MSE

MAPE

SE

3.138765976

Next period

14

2.
Develop
a 3-year weighted average to predict demand in year 12, in which sales in the
most recent year is given a weight of 3, the second most recent year is
weighted 2 and sales in the third most recent year has a weight of 1.
Answer:14,667 bags

Forecasting

Weighted moving
averages – 3 period moving average

Data

Forecasts and Error
Analysis

Period

Demand

Weights

Forecast

Error

Absolute

Squared

Abs Pct Err

Period 9

12

1

3 periods ago

Period 10

14

2

2 periods ago

Period 11

16

3

1 periods ago

Total

0

0

0

00.00%

Average

0

0

0

00.00%

Bias

MAD

MSE

MAPE

SE

0

Next period

14.66666667

Not enough data to compute the
standard error

3.
Develop
a regression/trend line to estimate the demand for fertilizer in year 12.
Answer:

Explanation
(include software output or calculation):

4.
Analysis
of the forecasting errors indicates which forecasting constant is best in this
situation?
Answer:

Explanation:

3. Kaplan College has
decided to “wire” its campus. The first stage in this effort is to
install the “backbone,” i.e., to connect all the buildings. The table
below gives the distances between the various buildings on campus in hundreds
of feet.

You may use QM for Windows or
complete it by hand:

Distances in Hundreds of Feet

From

To

Building
1

Building
2

Building
3

Building
4

Building
5

Building
6

Building
1

5

6

4

4

7

Building
2

5

3

4

5

Building
3

6

3

4

Building
4

2

3

Building
5

5

Building
6

1.
How
should the buildings be connected to minimize the total length of cable?

Answer:

Explanation (including any calculations or software output):

2.
What
length of cable is required?

4. The
following represents the distances in miles from a warehouse (node 1) to
various cities in Montana. The major outlet store is located at node 7.

From
Node

To
Node

Distance

1

2

50

1

4

140

2

3

20

2

4

25

3

4

50

3

5

25

3

6

75

4

5

50

4

7

20

5

6

45

5

7

75

6

7

40

You may use QM for Windows or
complete it by hand:

1.
Find
theshortest route and distance from Node 1 to Node 7.

Answer:

Explanation (including any
calculations or software output):

5. The
network of a city sewer system and their capacities are shown below. Remember
that the arc has both capacity and reverse capacity. For example, row 1 is the
flow from node 1 to node 2 and row 2 is the reverse flow from node 2 to node 1.
There are seven branches in this network.

From
Node

To
Node

Fluid
Flow

1

2

100

2

1

200

1

3

150

3

1

250

1

4

400

4

1

400

1

5

250

5

1

150

2

4

350

4

2

200

3

4

250

4

3

350

3

5

100

5

3

250

You may use QM for Windows or
complete it by hand:

1.
Determine the maximum flow (inhundreds of gallonsof water per minute) from node 1 to
node 5.
Answer:

Explanation (including any
calculations or software output):

6. The governor of
Michigan believes that the state can improve the state’s crime rate if the
state can reduce the college debt carried by its citizens and if they can
increase the percent of the population covered by health insurance. (This
requires you to use the States Dataset file that is included in Doc
Sharing->Instructor Graded Projects.)

1.
Using
theStates Data Set and Excel DataAnalysis
(Regression),create the multiple regression
prediction equation of the form? =b0 +b1(X1) +b2(X2)
Answer:

Explanation (including any calculations or software output):

2.
Predict
the crime rate for Michigan if the college debt were \$20,000 and the percent
not covered by insurance was 15% or 15?
Answer:

Explanation (including any calculations or software output):

7. A concessionaire for the local ballpark
has developed a table of conditional values for the various alternatives
(stocking decisions) and states of nature (size of crowd).

Stocking Decision

Large
Crowd (\$)

Average
Crowd (\$)

Small
Crowd (\$)

Large Inventory

\$32,000

\$22,000

-\$2,000

Average Inventory

\$25,000

\$20,000

\$6,000

Small Inventory

\$7,000

\$6,000

\$5,000

You may use
Excel QM or QM for Windows:

If
the probabilities associated with the states of nature are 0.50 for a large
crowd, 0.25 for an average crowd, and 0.25 for a small crowd, determine:

1.
The
alternative that provides the greatest expected monetary value (EMV).

Answer:

Explanation (including any
calculations or software output):

2.
The
expected value of perfect information (EVPI).

Answer:

Explanation (including any
calculations or software output):

Calculate the price
Make an order in advance and get the best price
Pages (550 words)
\$0.00
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Upload your instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with Essay Fountain
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
Testimonials
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
Ethics
I Thank the entire team.
Customer 452919, January 25th, 2022
Nursing
Very good service
Customer 453075, April 27th, 2022
Marketing
Excellent and thank you!
Customer 452591, December 12th, 2020
Tourism
thank you
Customer 452933, November 20th, 2021
Health Care
Thank you for getting this paper done in a timely manner
Customer 452641, February 20th, 2021
Sociology
Thank you, I have been averaging 16/20 points for the past discussions 1-4). Unsure why, but I will know how this one goes in a few days. Thank you for your assistance.
Customer 452919, February 16th, 2023
Sociology
Thanks to the entire Team of Solutions.
Customer 452919, March 29th, 2022
Sociology
Thank you!
Customer 452919, April 5th, 2022
WRTG 393 6360 Advanced Technical Writing (2222)WRTG-393
Patience and truly superb service considering all the information was not uploaded.
Customer 452995, February 4th, 2022
Psychology
Thank you very much! I will be using your service again soon.
Customer 452665, March 18th, 2021
Psychology
Thank you so much!! Very much appreciated!
Customer 452717, April 20th, 2021
Education
Thank you so much!!! Will use this service again highly recommend this site!!!
Customer 452739, May 2nd, 2021
11,595
Customer reviews in total
96%
Current satisfaction rate
3 pages
Average paper length
37%
Customers referred by a friend
OUR GIFT TO YOU
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat