​Ajax Sound Is in the Business of Fabricating Printer Connection

question 10

Essay

​Ajax Sound is in the business of fabricating printer connection cables. They purchase 30 foot spools of wire from National Electric at $3.00 per spool and cut the wire into various lengths.
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​Each length of wire is fitted with printer connector jacks at both ends and then packaged. The printer connector jacks cost $.40 per pair (one pair is used in each cable package). Packaging and labor together cost $.20 per package.
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Because of Ajax's superior marketing skills they are in the enviable position of being able to sell all the printer connection cables they produce. They are currently contemplating offering four different sized cable packages:
​ If unused wire from a spool can be sold for scrap at $.03 per foot, how many packages of each size cable should Ajax make from a 30-foot spool?

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Definitions:

Dependent Variable

A variable in an experiment or model that is expected to change in response to manipulations of independent variables.

Building Model

The process of creating a mathematical, statistical, or computational representation of a real-world scenario for the purpose of analysis or prediction.

Logistic Regression

A statistical method used for predicting a binary outcome from a set of independent variables.

Odds Ratio

A statistic that quantifies the strength of the association between two events, typically used in case-control studies.