MetroPCS Wi-Fi ~ 8:49 AM @ 7 0 100% $3.us-east-1.amazonaws.com 1 of 2 Homework 7 Solve algebraically 1. Find the absolute extreme values of: ((x) = x - 12can [-3.3] 2. Find the absolute extreme values of: /(x) = 2x - 5x* on [-1, 3] 1. Find the abiolute extreme values of: /(x) = x* + 4x' + 4x on [-2.1] 4. The fuel economy Inn miles per gallon) of an treerage American midined car in "(x) = -Doin + Quidx + 10,4, where s is driving speed (20 S a $ 60), At what speed is the fuel economy the greatuit? The value of a timber for it after t year is V() - 480v7 - 40r Clor 0 6 : $ 50). Find when its value is maximized. Country Motorbikes Inc finds that it costs $200 to produce each motorbike, and that fined couts are $1500 per day. The price function in p = 600 - 5x, whate p is the price in dollars at which mikly s motorbikes will be sold. Find the quantity Country Motorbikes should produce and the price it should charge to mimic profit. Also, find the maximum profit. 7. A real estate company wants to build a parking lot along the side of one of its buildings using 80 feet of fence. If the side along the building needs no fence, what are the dimensions of the Lazyport possible parking lot? A farmer wants to make two identical rectangular endowres along a straight river, If he has too yards of fence, and if the sides along the river need no fence. what should be the dimension of watch enclosure if the total area is to be maximized? An open top box is to be made from a square piece of cardboard that measures 18 inches by 18 inches by removing a square from each comer and folding up the sides. What are the dimeraions and volume of the largest possible box that can be made like this? 10. A car dealer can sell 12 cars per day at the price of $15000, He estimates that for each $ 100 price reduction, he can pell two move cars per day. If each car costs him $12 009 and find Out are $1030, what price should he change to maximize his profit? How many cars will he will at this price 11 An airline finds that if I prices a cross-country ticket at $200, It will vell 300 tickets per day. It estimates that each $10 price reduction will result in 30 more tickets sold per day. Find the ticket price (and the number of tickets sold) that will maximize the airline's revenue. 12 An open top box with a inquire bate is to have a volume of 4 cubic feet. Find the dimension of the box that can be made with the smallest amount of material. 13. A homeowner wants to build, along his driveway. a garden surrounded by a fence. If the garden hi to be 800 square feet, and the fence along the driveway costs $6 per foot while on the other thieme sidea it coats only 52 per square foot, find the dimensions that will minimise cost. Aha, find the minimum obit. 14. A certain boll averages 36,000 cars per day when charging $1 per car. A survey concludes that Increating the boll will rewit in 300 fewer car's for each cent increase. What toll should be charged tom in mice revenue? 15. Until recently hamburgers and the city sports arena coil $4 each. The food concesionaire sold an awir not of 10,000 hamburgers on a game night. When the price was increased to 14 40, hamburger sales dropped to an average of 800 per night al Awwming a linear demand curve, find the price of a hamburger that will mandimine the nightly hamburger revenue bj if the concessionaire has fixed costs of $1090 per night and the variable coat is $ 10 per hamburger, find the price of a hamburger that will maximise the nightly hamburger profitRaeford charges $1.750 per car. Required: (Be sure to label ALL relevant amounts and calculations) 10 points a. Advise Raeford on how many cabinets he should build sell per month so that his business will be at break even. b. What if Raeford decides to raise the price of the cabinets to $2.000/car? How will your answer to #1 change? c. Before making the price change, what should Raeford think about and consider regarding his business? Be specific.\"1,,ng Coffee to pay US$180 million to settle SEC charges of accounting fraud as it inated numbers to rival Starbucks\Chapter II: Improving Decision Making and Managing Knowledge 457 capital or infrastructure to operate a platform for inte- Sources: Paul Gillin, "Industrial loT Revs Up at Big Renewable Energy grating and analyzing their IoT data, GE faces compe- Provider," Silicon Angle, May 17, 2017; www.predix.io, accessed May 20, 2017; Laura Winig, "GE's Big Bet on Data and Analytics," MIT Sloan tition from many sources. Amazon, Google, IBM, and Management Review, February 2016; www.ge.com, accessed May 20, 2017; Microsoft are all getting into Internet of Things plat- Devin Leonard and Rick Clough, "How GE Exorcised the Ghost of Jack forms, and dozens of start-ups have similar ambitions. Welch to Become a 124-Year-Old Startup," Bloomberg Businessweek, March 21, 2016; Holly Lugassy, "GE Leverages Pivotal Cloud Foundry to Build The biggest question is whether other large industrial Predix, First Cloud for Industry." CloudFoundry.org, May 11, 2016; Cliff companies will turn to GE or to another cloud plat- Saran, "GE Predictive Analytics Optimises Irish Power Electricity Pro- duction," Computer Weekly, July 13, 2015; Charles Babcock, "GE Predix form to manage their information. And if you're a Cloud: Industrial Support for Machine Data," Information Week. August 6, manufacturer of some size and sophistication, will you 2015; and "GE: loT Makes Power Plants $50M More Valuable," Information Week, September 29, 2015. allow GE to "own" the data on your business, or will you manage and analyze the data yourself? CASE STUDY QUESTIONS 11-13 How is GE changing its business strategy and value to the firm of each of those decisions? business model? What is the role of informa- Explain. tion technology in GE's business? 1 1-16 To what extent is GE becoming a software 11-14 On what business functions and level of deci- company? Explain your answer. sion making is GE focusing? 11-17 Do you think GE will become one of the top 11-15 Describe three kinds of decisions that 10 U.S. software companies? Why or why not? can be supported using Predix. What is the"That sounds like a better policy," said Amy. "How knowledge about volume or patterns of returns until it's well is it working?" too late. That's their very nature." "Up until Jungle Jim jogged where he shouldn't, it Guridi asked, "Could we have field representatives worked fine. Now a number of large accounts are plead- who do nothing but deal with this problem? The retail- ing 'special circumstances' or threatening to sue if we ers would be told to hang onto the defectives until our don't take back the dolls." claims reps arrive." "They have no grounds for suit," declared Amy. Coggins replied, "That would be expensive, "You're right," said Coggins, "but several of their because most retailers have little storage space for any- buyers are refusing to see our sales staff until the matter thing and would expect our claims rep to be there imme- is resolved. I just heard about this yesterday and meant diately. Besides, it might undermine our selling efforts if to bring it up in today's meeting. I consider this very retailers could no longer use returns to negotiate with as serious." they talked about new orders." "Damn it!" shouted Amy, pounding the table with "That may be," interjected Amy, "but we cannot her fist. "I hope that damned jogger dies of jungle rot! continue having each salesperson tailoring a return pol- We're going to lose money this year, and now you're all icy for each retailer. That's why we're in such a mess with telling me how the return policy works, or doesn't work, the jogger doll. We have to get our return policy estab- as the case may be! Why can't we just have a policy of all lished, made more uniform, and enforced. We cannot go sales being final and telling retailers that if there is an through another fiasco like Jungle Jim the Jogger for a honest defect they should send the goods back here to us long time. We're going to lose money this year, no mat- in good old Biloxi?" ter what, and I have already told Kevin that there will be "Most of the small accounts know nothing about virtually no money available for retooling for next year's shipping," responded Vidal. "They don't know how to new products." pack, they don't know how to prepare shipping docu- ments, and they can't choose the right carriers. You Questions ought to see the hodgepodge of shipments we receive 1. From the standpoint of an individual concerned with from them. In more cases than not, they pay more in accounting controls, discuss and evaluate Johnson Toy shipping charges than the products are worth to us. I'd Company's present policies for handling returned items. rather see them destroyed in the field." 2. Answer Question 1. but from the standpoint of an indi- Sullivan spoke up. "I'd object to that. We would vidual interested in marketing- need some pretty tight controls to make certain the 3. Propose a policy for handling returns that should be goods were actually destroyed. What if they are truly adopted by the Johnson Toy Company. Be certain to list defective, but improperly disposed of, then fall into the circumstances under which exceptions would be allowed. hands of children who play with them and the defect Should it apply to the Jungle Jim dolls? causes an injury? Our name may still be on the product, 4. Should this policy, if adopted, be printed and distributed and the child's parents will no doubt claim the item was to all of the retailers who handle Johnson Toy Company purchased from one of our retailers. Will we be liable? products? Why or why not? If it should not be distributed to them, who should receive copies? Why can't we have everything come back here? We have 5. Assume that it is decided to prepare a statement on returns enough volume of some returned items that we could to be distributed to all retailers and that it should be less think in terms of recycling parts." than a single double-spaced page. Prepare such a statement. Vidal responded, "Recycling is a theoretical solu- 6. On the basis of the policy in your answer to Question 3, tion to such a problem, but only in rare instances will it develop instructions for the Johnson Toy Company distri- pay. In most instances the volume is too small and the bution and accounting departments with respect to their cost of taking toys apart is usually very high. However, roles and procedures in the handling of returns. the Jungle Jim product involves such a large volume that 7. Assume that you are Cheryl Guridi, the firm's logistics it is prudent and reasonable to think up another product manager. Do you think that the returns policy favored by that utilizes many of the parts. It would even pay to the logistics manager would differ from what would be modify some machines for disassembling the Jungle best for the firm? Why or why nott Jim doll." 8. Until the policy you recommend in your answer to "As I listen to this discussion," said Lori, "one Question 3 takes effect, how would you handle the inme- diate problem of retailers wanting to return unsold Jungle fact becomes obvious: We will never have very good Jim the Jogger dolls