Professional Documents
Culture Documents
Assignment Quantitative Methods in Business
Assignment Quantitative Methods in Business
Assignment Quantitative Methods in Business
ASSIGNMENT BRIEF
Weightage: 30%
Due Date:
1
QMB1 ASSIGNMENT FALL 2022
Completed answers to each task, making sure that you fully address each of the outcome
criteria.
Answer all questions separately.
Assignments without TURNITIN report will not be accepted.
Resources:
You need to demonstrate a confident application of the theories to the assignment task. The theoretical
underpinning of your observations and deliberations should also demonstrate a good understanding of
the subject by the way that your analysis is structured.
You can access the Internet to research about the topic. You should demonstrate good academic
practice by the appropriate use of academic texts and journals that are properly referenced.
Assignment must be submitted with the “Turnitin” report. If the report generated indicates a
similarity index percentage of 20% or more, a review of your assignment is necessary to ensure the
same is reduced to less than 20%.
Student declaration:
I certify that the work contained in this assignment was researched and prepared by me:
The user ID and Password for submitting the soft copy of the report through
TURNITIN is as follows:
2
QMB1 ASSIGNMENT FALL 2022
Plagiarism Writing
1. Plagiarism occurs if you use somebody else’s work in an assignment or exam answer, but fail to
state where you got the material from. You need to be also very careful about the amount of
words you are using from somebody else’s work.
2. It can happen in any type of assessment where you are given the questions or tasks in advance.
3. If another student uses your work in his/her answer(s), both you and he/she will be punished
when caught.
4. Punishments for committing plagiarism can be very severe.
Details
Plagiarism is a form of cheating in which students use the work of others and present it as their own. It
may include all or any one of the following –
1. Copy extensively from the work of others (from sources such as books, magazines, journal, web-
sites etc) and submit the work as your own.
2. Copy another students’ work and submit it for assessment under your own name.
3. Allow another student to copy your work and then submit it for assessment under their own
name.
3
QMB1 ASSIGNMENT FALL 2022
The examining body of CBFS may punish offending students in any manner that they deem fit. Typical
punishments may range from reduction in grades, making students re-sit modules and even failing
students on a module or an entire award. The college considers this form of cheating as a serious
offence. Therefore be forewarned!
4
QMB1 ASSIGNMENT FALL 2022
Please note that you need to type the assignment in MS equations (MSWORD) in the
template provided below
Q1. Suppose that the workshop manager of a truck company is setting up a production
schedule for two models of a new truck. Model A requires 4 bulbs and 9 tires. Model B
requires 5 bulbs and 14 tires. From its suppliers, the factory gets 335 bulbs and 850 tires
each day. How many of each model should the manager plan to make each day?
Bulbs 4 5 335
Tires 9 14 850
(8 marks)
A? B?
(1) 4a + 5b = 335
(2) 9a+ 14b = 850
(3)
5
QMB1 ASSIGNMENT FALL 2022
4a + 175 = 335
4a = 335-175
4a= 160
a = 160/4
a = 40
so the manger should plan to produce 40 for Model A each day
Q2; The price demand function for x swiss bars, a delicious chocolate treat is given by
p(x)= 55 +0.5x. The cost function for producing x swiss bars is c(x) = 50 +0.40x
a) Find the revenue function
R(x) = x * P(x)
R(x) = x * (55+0.5x)
R(x) = 55 x+ 0.5 x 2
b) Find the Profit function
Revenue:
R(x) = P(x) + C(x)
R (150) = 55 +0.5(150) + 50 + 0.40(150)
R (150) = 105 + 75 + 60
R (150) = 240
Revenue for producing 150 swiss bars is 240
Cost:
(150) = 50 + 0.40(150)
= 50+60 = 110
Cost of producing 150 bars is 110
Profit:
6
QMB1 ASSIGNMENT FALL 2022
C ( x ) 50+ 0.40(150)
C ( x )= = =0.733
x 150
(8 marks)
Q3. To encourage conservation, a gas company charges two rates. You pay $0.73 per
therm for 0–60 therms and $0.94 for each therm over 60.
Graph the case-defined function that represents the monthly cost of ‘t’ therms of gas
(8 marks)
0.73 (t) ≤ 60
X 40 50 63 75 79
7
QMB1 ASSIGNMENT FALL 2022
Y-Values
80 75.53
68.85
70 f(t)= 0.73(t)+(t-60) 0.94
60
48.81
50
40 36.5
29.2
30
f(t) =
20
0.73(t)
10
0
35 40 45 50 55 60 65 70 75 80 85
Q4. Suppose the weekly demand function for large pizzas at a local pizza parlor is
p = 26 - q /40.
a. If the current price is $16.50 per pizza, how many pizzas are sold each week?
Current price is 16.50$
16.50=26-q/40
q= 9.5(40)
q=380
b. If 100 pizzas are sold each week, what is the current price?
If “q” =100
P=26-100/40
P=26-2.5
P=23.5
8
QMB1 ASSIGNMENT FALL 2022
c. If the owner wants to double the number of large pizzas sold each week to 200, what
should the price
Let’s’ q’=200
P=26-200/40
26-5=21$
So, the price for 200 large pizza the owner should take is 21 $
d. Draw the function including domain and range for all the above three situations
Deman
d 380 200 100
Price 16.5 21 23.5
Price
25
23.5
21
20
16.5
15
10
0
50 100 150 200 250 300 350 400
When the
units are
increase the
price reduced
9
QMB1 ASSIGNMENT FALL 2022
(4 marks)
____________________________________________________________________________________________________
____________________________________________________________________________________________________
Level 5
Marks/Grades 90-100 85-89 74-84 56-73 55-55 0-49
Criterion A A- B C D F
10
QMB1 ASSIGNMENT FALL 2022
11