Table 8-3 a Marketing Research Firm Would Like to Survey Undergraduate and Undergraduate

question 11

Multiple Choice

Table 8-3
A marketing research firm would like to survey undergraduate and graduate college students about whether or not they take out student loans for their education.There are different cost implications for the region of the country where the college is located and the type of degree.The survey cost table is provided below: The requirements for the survey are as follows:
1.The survey must have at least 1500 students
2.At least 400 graduate students
3.At least 100 graduate students should be from the West
4.No more than 500 undergraduate students should be from the East
5.At least 75 graduate students should be from the Central region
6.At least 300 students should be from the West
The marketing research firm would like to minimize the cost of the survey while meeting the requirements.Let X₁ = # of undergraduate students from the East region,X₂ = # of graduate students from the East region,X₃ = # of undergraduate students from the Central region,X₄ = # of graduate students from the Central region,X₅ = # of undergraduate students from the West region,and X₆ = # of graduate students from the West region.
-According to Table 8-3,the constraint that there must be at least 400 graduate students is expressed as

• A)X₁ + X₂ + X₃ + X₄ + X₅ + X₆ ≥ 400.
• B)X₁ + X₂ + X₃ + X₄ + X₅ + X₆ ≤ 400.
• C)X₁ + X₃ + X₅ ≥ 400.
• D)X₂ + X₄ + X₆ ≥ 400.
• E)X₁ + X₂ + X₃ ≥ 400.

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Definitions:

Marginal Cost

The cost incurred to produce one additional unit of a product or service.

Average Costs

The total cost of production divided by the quantity produced, indicating the cost per unit of output.

Fixed Costs

Expenses that do not vary with the level of production or sales, such as rent, salaries, and loan payments.

Marginal Productivity

Marginal productivity measures the change in output resulting from altering the level of a single input while holding other inputs constant.