Question No 01

We are living in rapid growing world in terms of business education. Most of the decision are taken
by top management on data driven models and analysis using statical techniques that have changes
the way the business operates like finance and accounts, transportation and marketing.

The main points of this course is listed below

1. Introduce techniques towards data driven decision taking

2. Quantitative modeling of dynamic nature of decision problem using past data
3. Different approaches for decision making in uncertainty

Topics covered include probability, statistics, regression, stochastic modeling, and linear, nonlinear
and discrete optimization.

Most of the topics will be presented in the context of practical business applications to illustrate its
usefulness in practice.

 Fundamental concepts from probability, statistics, stochastic modeling, and

optimization to develop systematic frameworks for decision-making in a dynamic
setting
 How to use historical data to learn the underlying model and pattern
 Optimization methods and software to solve decision problems under uncertainty in
business applications.
Question # 02:
  Constrain for M1
3x+3y≤5,000
 Constraint for M2
6x+6y+6z≤10,000
 Constraint or N1
5x+8y≤8,000
 Constraint for N2
10x≤4,000
 Constraint for N3
9x+5y≤5,600

Question # 03:
Z= 23x+46y
X+2y=85
2x-y=21
2x+y=200
Solving one equation
X+2y=85 (x=0)
Y= 42.5
X+2y=85 (y=0)
X=85
Solving 2nd Equation
2x-y=21 (X=0)
Y=21
2x-y=21 (y=0)
X=10.5
Solving 3rd equation
2x+y=200 (x=0)
Y=200
2x+y=200 (y=0)
X=100
X+2y=85
4x-2y=42
5x/5=127/5 =93.4
X+2y=85
93.4+2y=85
93.4-85=2y
Y=4.2
Z=23x+46y
23(93.4) +46(4.2)
2148.2+193.2
2341.4
2x-y=21
 2x+y=200
4x/4=221/4=55.25
2(55.25)-y=21
110.5-y=21
110.5-21=y
Y=89.5
23x+46y
23(55.25) +46(89.5)
1270.75+4117
5387.75
2X+4y=170
2x+y=200
3y/3= 30/3 =y=10
X+2y=85
X=2(10) =85
X=65
Z=23x+46y
23 (65) +46 (10)
1465+460
Z=1925

Question No 04:

Z=6x+14y
Subject to
6x+12y=174
14x=196
Putting the slack variable in it
6x+124+S1=174
14x+S2=196
Maximum 6x+14y+S1+S2

Putting the values in the initial table

As the question states the maximum value so to answer must less than 0 or equal

CBi CJ 6 14 0 0
Basic X Y S1 S2 Solution Ratio
0 S1 6 12 1 0 174 14.5
0 S2 14 0 0 1 196 infinite
Zj 0 0 0 0
Cj-Zj 6 14 0 0
As the question states the maximum value so the answer should be less than 0 or equal to:

CBi CJ 6 14 0 0
Basic X Y S1 S2 Solution Ratio
14 Y 6/12 12/12 1/12 0/12 174 14.5
0 S2 -14 0 0 -1 196 infinite
Zj 7 14 1.17 0
Cj-Zj -1 0 -1.17 0
So,we get the value is X=14

Question # 5:
Sample = 10
40% Copper
Mean Copper = 41.2%
Standard Deviation = 0.13%
Signification Level = 0.01%

The Sample Size (n) = 10

The degree of freedom (df) = n-1 = 10-1 = 9
The Standard Deviation = 0.13
The mean = 41.2%
The level of signification = 0.01

The test hypothesis is: H◦: µ=40

Alternative hypothesis µ ≠ 40
b) this is a two nailed test here; we use the t test because the population standard deviation is
unknown
c ) t= x́ - µ / s / √ n

t = = 41.2 -40 / 0.13 / √ 10 = 1.2 = 29.19

t = 29.19
Tc = 32.2498
Here t>Tc
So, we rejected the null hypothesis

Question # 06
Mean = 71.21
Standard Deviation = 8.4
Total Students-Mean grade 74.7705
Significance Level = 0.05
Z = X́ - µ / 6 /√ n
= 71.21 -74.7705 / 8.4 / √ 141 = -3.5605/0.71
null hypothesis µ = 71.21
Alternative hypothesis µ ≠ 71.21
Test statistic under = H◦ :
Level of signification = 5% = 0.05
Critical value Z͚ Z5% = 1.64 at one nailed test

Therefore, lZl> l Z5% l » We Reject H◦

B) Critical Value Z͚ Z5% = 1.96 at two nailed test
Therefore, lZl> l Z5% l » We Reject H◦
Therefore, Population Mean = 71.21