# statistics

BUS310, Homework #1, Spring 2018 ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; Instructor:Betsy McCall

**Instructions**: Complete each problem on a separate worksheet
in a single Excel file. ; Rename the
separate worksheets with the respective problem number. ; You may have to copy and paste the datasets
into your homework file first. ; Name the
file with your last name, first initial, and HW #1. ; Label each part of the question. When
calculating statistics, label your outputs.**Submit
your completed file in Blackboard**.Use the Solver add-in for these problems.

- A chemical company manufacturers three chemicals: A, B, C. ; These chemicals are produced via two production processes: 1 and 2. ; Running process 1 for an hour costs $400 and yields 300 units of A, 100 units of B and 100 units of C. ; Running process 2 for an hour costs $100 and yields 100 units of A, and 100 units of B. ; To meet customer demands, at least 1000 units of A, 500 units of B and 300 units of C must be produced daily.
- Use Solver to determine a daily production plan that minimizes the cost of meeting the company’s daily demands.
- Confirm graphically that the daily production plan from part a minimizes the cost of meeting the company’s daily demands.
- Use SolverTable to see what happens to the decision variables and the total cost when the hourly processing cost for process 2 increases in increments of $0.50. ; How large must this cost increase be before the decision variables change? ; What happens when it continues to increase beyond this point?

- A furniture company manufactures desks and chairs. ; Each desk uses four units of wood, and each chair uses three units of wood. ; A desk contributes $400 to profit, and a chair contributes $250. ; Marketing restrictions require that the number of chairs produced be at least twice the number of desks produced. ; There are 2000 units of wood available.
- Use Solver to maximize the company’s profit.
- Confirm graphically that the solution in part a maximizes the company’s profit.
- Use SolverTable to see what happens to the decision variables and the total profit when the availability of wood varies from 1000 to 3000 in 100-unit increments. ; Based on your findings, how much would the company be willing to pay for each extra unit of wood over its current 2000 units? ; How much profit would the company lose if it lost any of its current 2000 units?

- A farmer in Iowa owns 450 acres of land. ; He is going to plant each acre with wheat or corn. ; Each acre planted with wheat yields $2000 profit, requires three workers, and requires two tons of fertilizer. ; Each acre planted with corn yields $3000 profit, requires two workers, and requires four tons of fertilizer. ; There are currently 1000 workers and 1200 tons of fertilizer available.
- Use Solver to help the farmer maximize the profit from this land.
- Confirm graphically that the solution from part a maximizes the farmer’s profit from his land.
- Use SolverTable to see what happens to the decision variables and the total profit when the availability of fertilizer varies from 200 tons to 2200 tons in 100-ton increments. ; When does the farmer discontinue producing wheat? ; When does he discontinue producing corn? ; How does the profit change for each 10-ton increment?

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