Quantitative Methods FQuantitative Methods For Business Midterm Exam: Questions 1-30 : 3 in 1 test banks Test bank 1: 96.1%or Business-Bus660-Midterm 2021/2022

1) Problem 7-37 (Algorithmic) The New England Cheese Company produces two cheese spreads by blending mild cheddar cheese with extra sharp cheddar cheese. The cheese spreads are packaged in 12-ounce containers, which are then sold to distributors throughout the Northeast. The Regular blend contains 85% mild cheddar and 15% extra sharp, and the Zesty blend contains 75% mild cheddar and 25% extra sharp. This year, a local dairy cooperative offered to provide up to 9000 pounds of mild cheddar cheese for $1.50 per pound and up to 4000 pounds of extra sharp cheddar cheese for $1.70 per pound. The cost to blend and package the cheese spreads, excluding the cost of the cheese, is $0.25 per container. If each container of Regular is sold for $2.00 and each container of Zesty is sold for $2.50, how many containers of Regular and Zesty should New England Cheese produce? Do not round your interim computations. If required, round your answers to the nearest whole number. Let R = number of containers of Regular Z = number of containers of Zesty Optimal Solution: R = 0, Z = 16000, profit = $ 10260. 2) A posterior probability associated with sample information is of the form P(a state of nature | a sample outcome) 3) Problem 1-15 (Algorithmic) Preliminary plans are underway for construction of a new stadium for a major league baseball team. City officials question the number and profitability of the luxury corporate boxes planned for the upper deck of the stadium. Corporations and selected individuals may purchase a box for $. The fixed construction cost for the upper-deck area is estimated to be $, with a variable cost of $ for each box constructed. a. What is the breakeven point for the number of luxury boxes in the new stadium? Breakeven point 30.5 luxury boxes b. Preliminary drawings for the stadium show that space is available for the construction of up to 49 luxury boxes. Promoters indicate that buyers are available and that all 49 could be sold if constructed. What is your recommendation concerning the construction of luxury boxes? . The input in the box below will not be graded, but may be reviewed and consi