Recent Question/Assignment
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
Looking for answers ?
Recent Questions
Module code: BMA4005-20Module title: Professional PracticeAssignment: A1. Digital PosterWord count: 500Contribution to module mark: 40% of overall gradeAssessment type: IndividualWeight 40%Submission deadline:...Assessment Criteria for Written Report (20%)• Submission of a minimum 1500 to maximum 1800-words written report due from week 9. You will submit your written report one week after you have undertaken the...Assessment 2: (20%) Case Study Presentation Due Date weeks 10This assessment builds on your theoretical knowledge and tests your ability to apply this knowledge to practice.you are required to formulate...Assessment 2Assessment 2Report: 30%Word count: 1400 – 1600 wordsDue date: Sunday of Week 8DescriptionYou are playing the role of a community service worker supporting a young adult son who is 18 years...1500-1800 wordsInstructions From TutorPlease download the eTask3 spreadsheet from Canvas and save the eTask spread as an Excel file. The main content of the force method is taught in Lectures 6,7&8.eTask3.1 is a...ASSIGNMENT INSTRUCTIONSAssessment Practical assessmentAssessment code: 011Academic Year: 2023/2024Trimester: 2Module Title: Critical Perspectives on Cross-Border BusinessModule Code: MOD009194Level: 6Module...Show All Questions