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Piri Reis University Rectorate and Board has enabled a budget of$1,500,000 as the bonuses and merits of 503 academicians. A SalaryDifferential Evaluation Board, com...

Question

Piri Reis University Rectorate and Board has enabled a budget of$1,500,000 as the bonuses and merits of 503 academicians. A SalaryDifferential Evaluation Board, comprising Piri Reis UniversityBoard members, administrators, supervisors and academicians, havedetermined the three compensatian variables that should affectbonuses and merits. These variables V1, V2 and V3, which refer to:V4. Teachers' performance measured by the university evaluationinstrument. V2: General services to the univers

Piri Reis University Rectorate and Board has enabled a budget of $1,500,000 as the bonuses and merits of 503 academicians. A Salary Differential Evaluation Board, comprising Piri Reis University Board members, administrators, supervisors and academicians, have determined the three compensatian variables that should affect bonuses and merits. These variables V1, V2 and V3, which refer to: V4. Teachers' performance measured by the university evaluation instrument. V2: General services to the university and its students, including voluntary activities, etc. V3: Professional development, which includes teaching merits, research, participation in management tasks, etc. All three variables above are measured on a scale ranging from 1 (low) to 5(high). The points scored during 1 year determine bonuses and merits for the following year. At the end of the 2019-2020 Academic Year, the sum of the points of these variables was: = 1,625 points; V2 = 1,409 points; = 1,387 points. The Evaluation Board recommended, and the Piri Reis University Rectorate and Board accepted, the following rules: Rule 1: No teacher should receive more than $5,000 for bonuses and merits in any given year. Rule 2: One V variable point is worth twice a V2 variable point; one V, variable point is worth twice a variable point. Rule 3: The value of one of the V , V2 and V3 variable points should be as high as possible, but subject to the total budget and to these rules, Formulate a linear programming model that can establish the optimum value of one of the V1, V2, V, variable points for the year 2020. (10 pts) Solve the problem. (15 pts) Explain the meaning of the results obtained: decision variables, the objective function value and surplus/excess variabless(5 pts)



Answers

The data set $\mathrm{NBASAL}$ contains salary information and career statistics for 269 players in the National Basketball Association $(\mathrm{NBA}) .$
(i) Estimate a model relating points-per-game (points) to years in the league (exper), age, and years
played in college (coll). Include a quadratic in exper; the other variables should appear in level form. Report the results in the usual way.
(ii) Holding college years and age fixed, at what value of experience does the next year of experience actually reduce points-per-game? Does this make sense?
(iii) Why do you think coll has a negative and statistically significant coefficient? (Hint: NBA players can be drafted before finishing their college careers and even directly out of high school.)
(iv) Add a quadratic in age to the equation. Is it needed? What does this appear to imply about the
effects of age, once experience and education are controlled for?
(v) Now regress log(wage) on points, exper, exper, age$e$ , and coll. Report the results in the usual
format.
(vi) Test whether age and coll are jointly significant in the regression from part (v). What does this
imply about whether age and education have separate effects on wage, once productivity and
seniority are accounted for?

We are looking at 30 pairs, first thing that we're gonna do is a paired T test. We're going to sum up all the differences and divide by the number of pairs which is 30. So what we get here is going to be approximately 15.267 Yeah. And we'll probably just say 15 to 7 for simplicity are non hypothesis. Is that the mean difference is zero? And since we're trying to find if there is a difference that means that we are conducting a two tailed test so does not equal zero as our alternative hypothesis. And then we get down to the T statistic but we calculate that bad boy and this is going to be equal to D. Bar which is 15 to 7. And I forgot to do this guy right here. S. D. SD is going to be 6.374 Mhm. And we'll go ahead and put that number up there. So we got D. Bars 15 point oh 27 minus heroes. We'll just keep it like that actually. We'll just put it there. And then we got our SD which is 6.374 divided by the square root of the sample size. Our sample sizes 30 or our number of pairs. Our degrees of freedom is going to be one less than the sample size. So 29. And we can go to table forward to find out that critical value and we find out that it is two point oh 45 Since we are looking at a T. Value or T here T 450.0 point 025 Since we're looking at a significant level of 5% it's a detailed tests. We gotta split that 5% on two tails and that critical values to 45 This calculated value right here is about 12 and this is going to be clearly outside of that. So therefore at the 5% significance level we can reject the null hypothesis and conclude that there is a difference in means. Mhm. At the 1% significance level we have critical value of 2.756 which once again at the 1% significant subtle we will reject the null hypothesis since it's still nowhere near 12. Now I think we're asked to creates a construct a 95% confidence interval and it's going to be given by this formula right here. So what we can do is just plug in those values as before our D. Bar is 15 point oh 27 Yeah. Plus or minus that T statistic right here. Which is keep 245 Yeah. Mhm. Sometimes SD got to keep scrolling at 6.374 divided by the square root of the sample size herb pairs. So we got 30 right there. So for a lower bound we're gonna get 12.65 Mhm. Just 17.1 I believe. 17.41 Mhm. And that right there is our 95% confidence interval. Mhm. Now for the next part were asked to do some normality checks. Actually, before we do that, compared to example 10.4 on page 4 45 we find that this confidence interval right here is actually narrower and then we can make some box plots, normal probability plots. Um And eventually what we find is that the box plots are normally shaped at least nicely distributed with no outliers and that the normal probability plot is approximately linear, which therefore means normal and therefore it is going to be reasonable to do a T. Test.

So for this question, we're giving the comprehensive operating budget off school as Inc. The manufacturer themselves. Snowboards on Well, basically giving a bunch of information on the first question wants us to prepare the January 2018 revenues budgets in dollars. So that's what we're going to be treating first. So the first question is the January 2018 revenues budgets. So, first of all, we need to know the meaning of the master budget. And most of our just summarizes, um, the financial projection of the of the company by outlining the financial objectives and the company and how they should be obtained. So moving on the budget is an estimates the revenues budget than estimate off the activities of the entity for the period. So the revenue budget India 2018 will basically be the budget, said revenues. Any formula for that is the estimated sell units. What supplied by the estimated selling price part unit. So that's a formula for the for the question and serving needs from the question. We have 11,900 units as the estimated sales you need one supplied by 6 $50 on their four is equal to one million 885,000. So as party question, do you have any budgets for the year? Is this for years? When you eat thing so moving? Answer the next question. The second question says prepared January 2018 production budgets. So for that one, the production budgets and units for the year would basically be, um, the first one would be former for its with the budget said you need sales on the unit sales are giving against 2900 this are you needs. Then we're gonna add the targets and then finished goods inventory and this is thrown dread unit. And then the totally required unit will be the total of this, which is 3100. There were going to deduct I'm going to the doctor beginning finished goods inventory. No, Sorry about that. The finished goods in Venturi? Yeah, on. We're going to the dogs. 500 asked the question on what's going to be left to be the units or finished goods to be produced on this is going to be 2600 left. So with the final answer is 2600 This is the you need to be produced for the year. So as party question the production budget, this is the production budget on this is the unit three budgets for the year 2018. So it's 2600 units. So moving on to the next question, want to prepare the direct material Used it on the porches budget for January 2018. So I'm going thio creating because they're two of them. The first time be doing is the direct Monte Rio usage budget in quantity. Uh huh. So this is the first one week from finding on the first thing we're going to do. So I'm gonna have the details over here, and they were gonna have the material over again and the material is in unit. And then for this question, we have to materials, we have fiberglass, and then we have wood, so we're solving for the two materials. So the first detail is the direct material required for the snowboard On this is 2600 multiplied by nine for the world on the second one is 2600 multiplied by 10. So this give you 23,400 on 26,000 for the fiberglass. Now, the next thing we need to put on the list in the total quantity off direct material to be used. So this is 23,400 this is 2 26,000 on these air units. So next thing we're gonna do is tow add the targets ending eventually. So I turned targets and then in Venturi on this is 1540 on 2000 and 40. Then the total requirement to be closed to we'll be equals to 24 1009. 44 would on you'll be 28,000 on what? To go out for fiberglass. So now we're going to the dogs. The beginning eventually. And that will be minus 2000 and 40. I minus 1000 and 14. So what? So what is left is the purchase to be made on the on The answer will be 22,900 for would on 27,004 fiberglass. So this is the table off the direct material usage budgets for the 2018 now and talk about it. The question wants us to find direct material usage budgets in dollars. So you want this to quit? The question wants us to find votes, the direct material usage, and purchase this budget. So what we just did was usage budget in on quantity, and it'll be in dollars in dollars. So once again, we're gonna have the details on the materials. Yeah. So we're gonna have the details on the materials to materials. We're gonna have five bucks glass on. We have wood. On the first is the wood on their 22,900 you needs from the question. We just did so too. In 2900 you needs multiply by $34 age on to give us 70 70 you would give us $778. 600. Now, the next one is the fiberglass, and we have 27,000 units for that multiplied by $9 age. And that will give us 243,000 for fiberglass. Now, the direct materials to be we'll chase this period. It's 778,600 for this Until 43 1000 for fiberglass on they obviously the total The total of this together would be one milion. 21 1006 100. So that is the total for the direct material using budget in dollars. And that's the question. Now, moving on to the food question. Yeah. Yeah, this question was, Could prepare a direct material labor costs budget for January 2018. So we have direct material. I'm sorry. Direct direct manufacturing, No direct material. The old manufacturing LeBeau. Blodget for 2018. So for the direct manufacturing labor budget for 2018, Yeah, we're gonna have, um, on the table. And then we have the details. Yeah, the output she needs produced when we have the direct manufacturing labor hours by you need we have the 22 hours the hourly wage rates on the total. So the first thing is the snowball for the details on the outputs produced I'll support Unit produced was 2600. The manufacturing liberal hours per unit was five. The total our state 18,000. The hourly wage rates is $29. On the total is three 7, 7000. So your total basically be that same 1000 here, Andi 37 7000 here. So that direct manufacturing label budget for 2018. So the fifth question says prepared a manufacturing overhead cost budgets for January 2018. So manufacturing overhead budgets for 2018 and I should look like this. So the first thing will be the variable manufacturing overhead. Yeah, and I $7 once supplied by 13,000 units, and the amount is $91,000. The next thing is a variable marketing cost on. This is to $50 multiplied by 38 and it is 9500. The next thing is the fixed manufacturing overhead on this is 81,000 doors. So the next thing will be the total manufacturing overhead. Costs on will be the total of everything, which is 181,000 500. So this is the answer to the question now moving. Answer the question six. What is the digital manufacturing overhead rates for January 20? It's saying so. The budget said manufacturing overhead wait for 2018 would be equals to what we got in the fifth question, which is total manufacturing overhead. Cost 81 81,500 divided, divided by the 18,000 hours. So this is a close to $13.96. So this is the budget er manufacturing overhead rate for 2018. I'm going on to the seventh question. What is the budget said Manufacturing overhead costs by output units in January 2018. So what to find the budget said manufacturing over head costs. But outputs unit in 2018. Yeah, so this will be close to 1 81,500 which is the total manufacturing invited. Costs divided by 2600 you need on this is equals to $69 on 81 6. So that's a bullet. A manufacturing. Why it costs but multiples unit in 2018 over into the next question. Calculate the cost of a snowboard manufactured in January 2018. So we're going to calculate the cost of a snowboard cost off. It's no board manufactured in 2018, So to find the cost of the snowboard who start with the direct materials and then we have the wood, I'm the world cost 778,000 $600. Then we have the five bow glass and of course, 2 $43,000 and then we have the direct manufacturing they both And this is 3. 77,000 and then we have the manufacturing overhead on This is 1 81,500 and then we have the non manufacturing overhead and this is 35,000. So the total cost off the snowboard would be the total everything which should be one minyan $615,100. So that's a total quarter of snowboard. But if you want to find the cost per unit of snowboard, then you need to find the total number off units which is $2600. So therefore the cost by instability division and this would be 6 to $1.19 some moving onto the next question number nine creeper and ending inventory budget for both the direct materials on the finished good for general in 2018. So we have a changing in Venturi budget for direct materials on finished goods in 2018. So for this we're gonna have the details, the quantity, the cost per you needs and then did sotto Yeah. So the first thing on the details is the direct my cereals and we have wood forward we have 1540 quantities. The cost per unit is $34. Mhm. So multiplying needs to be 52,000 3 $60 now moving on to fiberglass, the quantity is 2000 and 40 on the cost per unit is $9 on the total would be 18 1003 $60. So the total of these boats would be 7 $70,020. Now, this is direct material moving on to the finished goods. So finished goods we have snowboards Way on the quantity is 200. The cost per unit is 6 $21 on 19 cents. On the total, multiplication will be 1 24,000 suit, $88. So the total will be 1 24,000 suited $8 for the finished goods. Now the total ending in Venturi's would not be the total off. Both of them. The director answers and finished goods on Toyota is 1 94,000 9 58 dollars, and that's a total Indian Venturi. So moving answered questions hand some of unanswered question. 10. What to prepare? It costs off. Sold off good souls Budget for 2018 So that's what we're going to be doing now. Yeah. So we have the cost. Mhm off goods sold budgets for 2018. So first thing we're going to do is to have the beginning finished goods inventory for January on this will be $374. 0.8 multiplied by 500. So the total for this would be $187. 1004 100. The next thing is the direct materials used. Mhm. And this is 100. I'm sorry. One milion, $21,600 on. Next thing is direct manufacturing. LeBeau. And this is 377,000 dollars on. The next thing is the manufacturing overhead on this is 1 81,000 $500. Now, the next since nonmanufacturing overhead on. This is $35,000. So I would I did everything. Yeah, and then it's to give you one milion. 615,100. And this is the cost of goods manufactured. But I want to find the cost of goods sold budgets. Right. So now I'm gonna have the cost of goods available for sale on this is the total off these and these and then used to give you $1,802,500. And that next you have is to deduct the ending finished goods eventually for December for December. And when this is minus 1 24,000 suit, $88. So all that is going to be left is the cost off goods sold. And then this is the subtraction of that. This is one milion 6, 78,000 $262. So that's the coast in the cost of goods available. The cost of groups. Old budget for the 2020 18 No. Number 11. Yeah, this one wants us to find to prepare the budgeted income statements for school as incorporated for January 2018. So the budgeted income statements for the year ended December. That's the 1st 2000 and 18. So we have the revenue, and the amount is one milion 885,000. They will have the cost of goods suit. Oh, which is which? Just found one. Miller 6. 78,000 to 62. So the quest, the gross margin with the difference and right well, and that's 206,000 $738. So now the operating costs we have the variable marketing costs, which is 9500. Then we have the protein income, which is 197,000. Su takes $8 and then the income taxes. So the final answer would be the net income, because this is the income statements on the Net income ease 197,000 su taxi AIDS dollars. So that's the income statement. So moving on to the next question mhm questions Wolf. What's equally, what questions might be. See you ask the management team when reviewing the budget. And should the CEO set stretch targets? So what questions might be CEO asked. One renting were really Project. The CEO of the company can ask questions like, Um, like the expected feels for the coming year or the expected changes in the marketing on distribution costs because they want to game ourselves so they have to know how much they arms pain. Um, so you have to know the changes in the market and distribution costs On the expected there was the CEO may also want asked about the demand off the product in the market to see to see if customers keep demanding, you know, to keep the money to keep the markets in good conditions. So the c o May X about the expected sales one can also asked about the expected changes in market scene on distribution costs. The CEO may also asked about the demand off the products. Yeah, so the important question says she didn't see you set stretch targets on why. So they see you may want supposed from questions the manager when viewing the project. And, um so the answer to the question. If the seal should set stretch targets, the answer would be no, because setting targets in Venturi's, um is not is not the problem. The position off the CEO so he or she is not responsible is not responsible for the position on on the target's entry. The target ending eventually maintained or not, will not be posed by the seals and manager. So so we can say the target new target in Venturi's on this is whether they maintain the notes they opposed by the CEO. So the manager production manager so That's the answer now. Question 13. How does preparing the budget help schoolers? Management seemed better managed to company, so preparing the budget basically repairing the budget basically helps them in ways like encouraging their employees and their staffs. So have a framework for how the company should go, how the performance of the company should go because if you don't create a budget, they might go by the budget or they might not. So basically preparing the budget helps them to encourage employees to provide a, you know, strategic framework for judging performance, to see if there was spent or not, and for helping for strengthening the communication within the organization subunits so we can say preparing the budgets. Still, preparing the budget helps to one encourage the employees and stuffs. He also helps the company to provide a strategic framework for evaluating your performance unless Lee, it helps them to so have better communication. That's the right word. That's our communication within the sub units Now. What that means is that let's say there's a new issue with any project on the top. The person, at the very least, doesn't have to go all the way to the top to find out because then you already have the budget so they can just go to their fellow on the person is supposed to go means when you have issues and not the person all over on the talk. So it for much better communication within the sub units when you have a prepared budgets and that's the access to the queen.

So for this problem, what we're given is, and as our sample size, that's 3 11. We're going to let x one br displacement X two will be class. Mid size X three will be class Large x four will be fuel premium x five will be. Actually, it's not x five. Why is going to be fuel efficiency? And that's going to be calculated by a highway mpg. So now we have our regression equation, and we first have to determine the necessary sons. So you look at the sum of X I and that's 10 38. Then you look at the sum of X, I squared, and that's 3833.68 Then we look at the sum of why I and that's 80 36. And the sum of why I squared is 212,638 than the sum of X. I Y II gives us 2 25 432 7. So now we want to determine the slope of B um, and that's accomplished by B equals and times the sum of X y, minus the sum of X times the sum of why all over end times the sum of X squared minus the sum of acts square. This is going to end up giving us approximately negative 28825 So the mean is the sum of all the values divided by the number of values. So we're going to get that X mean is 3.3145 and the mean of why is 25 points 8392 The estimate of a of the intercept Alpha is going to be the average of wide decreased by the product of the estimate of the slope. So this is going to look like a is equal to the mean of Roy minus B times the medevacs, which is gonna give us 35.3933 Um, so we can replace Alpha or a with Alpha and be with beta. So now that's going to give us this value right here, which will now be 35 933 minus 2.8825 x one and then for part B, we will use. We can use excel to generate the multiple in your aggression model, and it will give us an output. Since this can't be done on Excel, Uh, we get a bunch of values, but if we put in the correct values will end up getting the correct output. So now we can move on to purchase E um, or actually, with part B, we can do part of us. So once you get the numbers in Excel, we see why hat is equal to be not. Plus B one x one plus b two, x two plus B three x three. Um, so we see that be not is going to equal 29 0074 b one is negative. 16581 B two is 4.4860 b three is 1.8190 and with that we end up getting as a result that are y is equal to 29. 0074 minus 1.6581 x one plus four point 44860 x two Move this for our last term, which is B three x three. That's gonna be plus one point 8190 x three. That's our final answer for beam and then foresee. We have our significance level Alpha. That's gonna be a 0.5 And the given claim is that b I or beta? I rather equals zero. So the null hypothesis states that even claim that the slope is zero. Um, So what we have now is that a church not equals. Uh, actually, h hot is given as b I equals zero and h A is given as b I. There's not equal zero. So the p values in this case we would end up getting abated. To corresponds to P equals zero, and beta three will correspond to p equaling zero point. Um, it's 1234 12345678 zeros 704 It's a very close to zero, but not quite. So if the P value is less than the significance than we will reject the null hypothesis hypothesis. So in this case, he is, um, less than zero and b two case, it's less than zero. So we reject the null hypothesis, which is h not. And in this case, um, it's less than zero is that we reject the significance is too Well, so you reject the null hypothesis again. Then, for part D, we do another excel generation of multiple linear regression model. Um, so we can't do anything with the sell side of things, but we have another one of these equations where it's be not, plus B one x one plus B two, x two plus B three, x three plus B four x four and then with all of our values what we end up getting as our estimated regression equation. It's going to be 29 7123 minus 1.6383 x one plus 3.9984 x two +16700 x three minus 1.585 x four In this case, the significance level. This is the last part. E. Alpha is going to equal 0.5 again. Um, and we and then all hypothesis we'll have data. One is equal to beta two, which equals beta three jiggles beta four, which is zero. And our H sub A is going to, um, ST that at least one of the FBI's is non zero. Besides, for some hi then the P values, uh, corresponding we want to look at, so we C p equals zero and P is less than zero. So we reject we reject h not because the P value is less than the significance. So I reject each nut are null hypothesis.


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Write a slope-intercept equation for a line with the given characteristics. Passes through $(0,-6)$ and $(3,-4)$...
5 answers
Rckci is launchcd from the ground at an angle of 0.4 ridlian%, Hul the rocket tavels horuzontally since it Wa s Taunched, what Ihe rockcrs height above the ground ?Srnight path If the rocket has travcled 260 fecttan(0.4) 04423 fcet 280= (0,) 239,476 Iccl 2M0eIn(0,4) I0I 244 fect 200 614,958 fett tan(0.4) tan(0.4) 109.92d fect
rckci is launchcd from the ground at an angle of 0.4 ridlian%, Hul the rocket tavels horuzontally since it Wa s Taunched, what Ihe rockcrs height above the ground ? Srnight path If the rocket has travcled 260 fect tan(0.4) 04423 fcet 280= (0,) 239,476 Iccl 2M0eIn(0,4) I0I 244 fect 200 614,958 fett t...
5 answers
Which of the following integrals will determine the volume of the solid generated by revolving the given region about y = 1 using SHELL METHOD?27 a-n)6 Wr)dx27[ a-xaly-7)dy 27 'a+y)l-7)y27 (+r)r - Jxdx
Which of the following integrals will determine the volume of the solid generated by revolving the given region about y = 1 using SHELL METHOD? 27 a-n)6 Wr)dx 27[ a-xaly-7)dy 27 'a+y)l-7)y 27 (+r)r - Jxdx...
5 answers
(a) f ) -2 ( b) f ) 3 (c) f) a f(x)=−2x+5
(a) f ) -2 ( b) f ) 3 (c) f) a f(x)=−2x+5...
5 answers
Draw the VSEPR or 3D structures (including all lone electron pairs) for PCIz and PCIs: What is the molecular geometry for each? Are these molecules polar or nonpolar?
Draw the VSEPR or 3D structures (including all lone electron pairs) for PCIz and PCIs: What is the molecular geometry for each? Are these molecules polar or nonpolar?...
4 answers
Explain which of the compounds represent the MOST OXIDIZED and MOST REDUCED class? (2+2 = 4 points)aH:0:bH 1:O:H_C1 C2 - H HH _ C1 _C2 ~0-H Hd.H.:O: # # M H_C1 Cz C1 ~h H HH H H _C1 C2 --C3--- H 1 H H HAns:
Explain which of the compounds represent the MOST OXIDIZED and MOST REDUCED class? (2+2 = 4 points) a H :0: b H 1 :O: H_C1 C2 - H H H _ C1 _C2 ~0-H H d. H . :O: # # M H_C1 Cz C1 ~h H H H H H _C1 C2 --C3--- H 1 H H H Ans:...
5 answers
Ni 2 (n)l n - 0Find the radius of convergence and the interval of convergence for the above series_
ni 2 (n)l n - 0 Find the radius of convergence and the interval of convergence for the above series_...

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