KENYA METHODIST UNIVERSITY

MOMBASA CAMPUS

BUSS 320 - QUANTITATIVE METHODS IN BISINESS

ASSIGNMENT DUE DATE 3RD APRIL 2020

INSTRUCTIONS - Answer ALL Questions.

Question 1

A cost accountant developed the weekly marginal revenue (MR) and the total cost (TC) functions based on the level of output (Q) as given below:

MR = 280 – 4Q

TC = Q2 – 80Q + 3,600

Using the above functions, you are required to determine:

i). The revenue maximizing level of output and the maximum revenue [4 Marks]

ii). The profit maximizing output and the maximum profit [6 Marks]

Question 2

A company has four plants which can manufacture any of the four products. The production cost differ from one plant to the other and so do the costs of the raw materials. Table 3 gives the profit data in thousands of Kenyan shillings.

Product

Plant

A B C D

P 1 8 4 1

Q 5 7 6 5

R 3 5 4 2

S 3 1 6 3

Required

Assign the products to the plants so as to maximize the profit. State the maximum profit to be expected. [10 marks]

Question 3

a) Explain what you understand by:

(i) Saddle point

(ii) Dominated strategy [4 marks]

b) Solve the game theory problem for players A & B below to determine the optimal strategies for each of the players and the value of the game

[6 marks]

PLAYER B

B1 B2 B3

PLAYER A A1 1 3 8

A2 6 4 2

Question 4

Find the optimum solution to the transportation problem below in which the cells contain the transportation cost in pounds. Determine the minimum transportation costs [10 marks]

Factory STORES

A B C D E Available

F1 7 6 4 5 9 40

F2 8 5 6 7 8 30

F3 6 8 9 6 5 20

F4 5 7 7 8 6 10

Required 36 24 15 13 12 100

MOMBASA CAMPUS

BUSS 320 - QUANTITATIVE METHODS IN BISINESS

ASSIGNMENT DUE DATE 3RD APRIL 2020

INSTRUCTIONS - Answer ALL Questions.

Question 1

A cost accountant developed the weekly marginal revenue (MR) and the total cost (TC) functions based on the level of output (Q) as given below:

MR = 280 – 4Q

TC = Q2 – 80Q + 3,600

Using the above functions, you are required to determine:

i). The revenue maximizing level of output and the maximum revenue [4 Marks]

ii). The profit maximizing output and the maximum profit [6 Marks]

Question 2

A company has four plants which can manufacture any of the four products. The production cost differ from one plant to the other and so do the costs of the raw materials. Table 3 gives the profit data in thousands of Kenyan shillings.

Product

Plant

A B C D

P 1 8 4 1

Q 5 7 6 5

R 3 5 4 2

S 3 1 6 3

Required

Assign the products to the plants so as to maximize the profit. State the maximum profit to be expected. [10 marks]

Question 3

a) Explain what you understand by:

(i) Saddle point

(ii) Dominated strategy [4 marks]

b) Solve the game theory problem for players A & B below to determine the optimal strategies for each of the players and the value of the game

[6 marks]

PLAYER B

B1 B2 B3

PLAYER A A1 1 3 8

A2 6 4 2

Question 4

Find the optimum solution to the transportation problem below in which the cells contain the transportation cost in pounds. Determine the minimum transportation costs [10 marks]

Factory STORES

A B C D E Available

F1 7 6 4 5 9 40

F2 8 5 6 7 8 30

F3 6 8 9 6 5 20

F4 5 7 7 8 6 10

Required 36 24 15 13 12 100

i have the material provided by the teacher for this asessment. also there is no word ccount.CHCCCS007Develop and implement service programsAssessmentStudent Name: _________________________________________________Table...here my 2ad assessment, please do this assessment related to the first onewhich is youdone it as Man 21319683 thanks .2.5.2 Progress report Weight: 25% Type of Collaboration: Individual Due: Week 7 Friday...BSBINM301 - Organise workplace informationASSESSMENT COVER SHEETSTUDENT ID STUDENT NAME First Name: Last Name:Student’s Declaration:Students please note: By submitting this assessment, you are acknowledging...Assessment Title Health Education Narrated PowerPointPurpose This assessment task will allow students to demonstrate an understanding and empathy towards the complexity of modifiable risk factor behaviour...Using and Managing Data and InformationNovember 2020 cohortBA3020QA - Assignment 2Note to students:You are required to complete all Ten tasks by word processor on a single MS Word file. The submission...Student Assessment PackEnsure this cover sheet is attached to your work.Student and Trainer/Assessor DetailsStudent IDStudent nameContact numberEmail addressTrainer/Assessor nameCourse and Unit DetailsCourse...Explain Cost of quality project planning in a company. Prepare a project plan for implementing cost of quality for the company you choose which has at least one ISO. The plan should give details of data...**Show All Questions**