Quantitative Methods Answers

1.Orders for clothing to cater for the coming festive season must be placed a month earlier. The cost per unit for a new fashion dress is RM30 while the anticipated selling price is RM60. Dresses that are not sold during the festive season can be sold for RM25 to a discount store. Demand is projected to be 60, 70, or 80 units. There is 50% chance that the demand will be 60 units, a 30% chance that the demand is 70 units, and a 20% chance that the demand will be 80 units.

2. If the company decides to use the expected monetary criterion (EMV), how many units should be ordered.

3. iii. Use the data and construct an expected opportunity loss (EOL) table. Determine the best alternative. (10 marks)

Find the approximate area under the curve y= sqrt{x^2+1} on the interval [0,1] using the trapezoid method and 5 subintervals.

Use a numerical solver and Euler's method to obtain a four-decimal approximation of the indicated value. First use h = 0.1 and then use h = 0.05.

y' = x^2 + y^2, y(0) = 3; y(0.5)

y(0.5) ≈ _______ (h = 0.1)
y(0.5) ≈ _______ (h = 0.05)

Use a numerical solver and Euler's method to obtain a four-decimal approximation of the indicated value. First use h = 0.1 and then use h = 0.05.

y' = x2 + y2, y(0) = 3; y(0.5)

y(0.5) ≈ _________ (h = 0.1)
y(0.5) ≈ _________(h = 0.05)

Use a numerical solver and Euler's method to obtain a four-decimal approximation of the indicated value. First use h = 0.1 and then use h = 0.05.

y' = x2 + y2, y(0) = 3; y(0.5)

y(0.5)≈ ________ (h = 0.1)
y(0.5)≈ ________ (h = 0.05)

The operations manager of a large production plant would like to estimate the average amount of time workers take to assemble a new electronic component. After observing a number of workers assembling similar devices, she guesses that the standard deviation is 6 minutes. How large a sample of workers should she take if she wishes to estimate the mean assembly time to within 20 seconds? Assume that the confidence level is to be 99%.

Using Bessel’s difference interpolation formula, to compute the value of y(5) for the
following data given below:
x: 0 4 8 12
y: 14.27 15.81 17.72 19.96

solve for t in the following equation by means of linear interpolation
( 1+ t )^10 - 1/ t = 25

From the following data find f'(5).
x= 1 3 4 6
F(x)= 14 2 8 9