A steel recycling company collects two type of steel A and B that contain different combinations of iron, carbon, manganese, and nickel. Steel type A contains 95% iron, 2% carbon, 2.5% manganese, and 0.5% nickel. Steel type B contains 97% iron, 1.5% carbon, 0.75 % manganese, and 0.75% nickel. You want to use recycling steel A and B to forge a new raw material that contains at least 120 kg iron, 1.5 kg carbon, 2 kg of manganese, and 1 kg nickel. If forging costs $4.50 and $6.00 per kg of A and B, respectively, formulate an optimization problem that determines the amounts of mixed steel A and B to be used to prepare the new raw material at a minimum cost.
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While the Federal Reserve is an independent entity, it is still subject to the political process. In an extreme case, the U.S. Congress could rewrite and pass laws that govern how the Federal Reserve does its job.
In this discussion, identify a potential change (for example, targeting interest rates or targeting the balance of the money supply in the economy) you would make to how the Federal Reserve operates and explain why you would change it.
the total cost function of a firm is represented below
-what is the MC
-what is the AVC
-calculate quantity and price at the shutdown point
if firm chooses to shutdown how much will it lose in the short run? in the long run?
what is the firms supply curve?at what level does it start?
what is the quantity and price at B.E. point?
Given the Correlation Matrix below what two major problems can you foresee from the effort to forecast Sales using Price and Advertising as independent variables in multiple regression? Correlation Matrix
Variables Sales Price Advertising
Price -.87 1.00
Advertising .45 -.79 1.00
.04 .02 .00
Income .36 .25 .21
.07 .04 .09 (Points : 3)
A. Sales and Income do not have a significant relationship at the 95% confidence level.
B. Price and Advertising may be collinear (Multicollnearity)
C. Price and Sales do not have a significant linear relationship at the 95% confidence level.
D. Both 1 and 2 above.
E. None of the above.
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