The Following Questions Correspond to the Problem Below and Associated

question 14

Essay

The following questions correspond to the problem below and associated Risk Solver Platform (RSP) sensitivity report.
Robert Hope received a welcome surprise in this management science class; the instructor has decided to let each person define the percentage contribution to their grade for each of the graded instruments used in the class. These instruments were: homework, an individual project, a mid-term exam, and a final exam. Robert's grades on these instruments were 75, 94, 85, and 92, respectively. However, the instructor complicated Robert's task somewhat by adding the following stipulations:
The following LP model allows Robert to maximize his numerical grade.
-Refer to Exhibit 4.2. Based on the Risk Solver Platform (RSP) sensitivity report information, Robert has been approved by his instructor to increase the total weight allowed for the project and final exam to 0.50 plus the allowable increase. When Robert re-solves his model, what will his new final grade score be?

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Definitions:

Predicted Values

The outcomes forecasted by a statistical model or algorithm.

Regression Equation

A formula that describes the relationship between a dependent variable and one or more independent variables.

Length

The measurement or extent of something from end to end; the greater of two or the greatest of three dimensions of an object.

Plot

The sequence of events or main story in a narrative or literary work.