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Author Question: As long as the slope of the objective function stays between the slopes of the binding constraints ... (Read 78 times)

serike

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on: Jun 24, 2018
As long as the slope of the objective function stays between the slopes of the binding constraints
 a. the value of the objective function won't change.
  b. there will be alternative optimal solutions.
  c. the values of the dual variables won't change.
  d. there will be no slack in the solution.

Question 2

An apartment complex developer is considering building apartments in College Town, but first wants to do a market study. A sample was selected of monthly rent values () for 70 studio apartments in College Town. (Based on past experience, the developer assumes a known value of  = 55 for the population standard deviation.)
 a. Develop a 98 confidence interval for the mean monthly rent for all studio apartments in this city.
  b. Suppose the apartment developer wants a 98 confidence interval estimate of the population mean with a margin of error of E = 10 . What sample size is needed?


anoriega3

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Reply #1 on: Jun 24, 2018
Answer to Question 1

C

Answer to Question 2

a. x = 490.8 98, z /2 = 2.33 . 98 confidence interval is 475.48 to 506.12
b. 162


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