3. (25 marks) A university library has received an endowment which generates an annual income of...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
3. (25 marks) A university library has received an endowment which generates an annual income of $12,000. The library has decided that it will use all or some of this money to pay for new annual subscriptions to electronic versions of journals. There are six such journals under consideration. To help decide what to choose, for each journal they have three pieces of information: (i) For each journal they know the annual subscription cost in dollars. (ii) They know the number of times each journal is cited by articles in other jour- nals. (iii) Based on input from every faculty member, they know the average evaluations of the journals based on a scale from 0 to 10. Journal Annual Cost Citations Evaluations 1 $2900 150 8.2 23 2 $2300 135 7.7 3 $1800 140 9.8 4 $2600 190 9.3 5 $3200 128 8.3 6 $2400 155 7.6 The budget can be taken as a system constraint. There are three goals: (i) The number of unsubscribed journals should be as low as possible. (ii) The average number of citations of the subscribed journals should meet or exceed the average number of citations of all six journals. (iii) The average faculty evaluations of the subscribed journals should be at least (iii) The average faculty evaluations of the subscribed journals should be at least 8.1. The first goal is four times as important as the third goal, and the second goal is three times as important as the third goal. 3. (25 marks) A university library has received an endowment which generates an annual income of $12,000. The library has decided that it will use all or some of this money to pay for new annual subscriptions to electronic versions of journals. There are six such journals under consideration. To help decide what to choose, for each journal they have three pieces of information: (i) For each journal they know the annual subscription cost in dollars. (ii) They know the number of times each journal is cited by articles in other jour- nals. (iii) Based on input from every faculty member, they know the average evaluations of the journals based on a scale from 0 to 10. Journal Annual Cost Citations Evaluations 1 $2900 150 8.2 23 2 $2300 135 7.7 3 $1800 140 9.8 4 $2600 190 9.3 5 $3200 128 8.3 6 $2400 155 7.6 The budget can be taken as a system constraint. There are three goals: (i) The number of unsubscribed journals should be as low as possible. (ii) The average number of citations of the subscribed journals should meet or exceed the average number of citations of all six journals. (iii) The average faculty evaluations of the subscribed journals should be at least (iii) The average faculty evaluations of the subscribed journals should be at least 8.1. The first goal is four times as important as the third goal, and the second goal is three times as important as the third goal.
Expert Answer:
Related Book For
Posted Date:
Students also viewed these mathematics questions
-
Convert the ER diagram to tables schemas. Figure 3.22 An ER diagram for a BANK database schema. Code BANK Name Addr Phone 1 BRANCHES Acct_no Ssn ACCTS N 1 ACCOUNT M A_C N Balance N Name CUSTOMER...
-
Find the domain and range for the following functions: (a) f(x) = 2x + 2 (b) f(x) = 2x - 5 (c) y = -2 0 2 (d) f(x)=x -1 (e) f(x) = = if x < -3 if - 3 x 3 if x > 3 x+1 x+6x+5
-
The annual growth rate in EPS is 3%. The P/E ratio is 12x. EPS last year was $1.00. Calculate What should the stock price be in 4 years?
-
X and Y have the join PDF (a) What is fX|Y(x|y)? (c) What is the minimum mean square error of the estimate of X given Y == 0.5? 2 0Sa 0 otherwise. 1 a M (y), e* (0.5) = E [(X-XM (0.5))Y = 0.5] ,
-
a. Find the value of AG 2 . b. Find the value of tan x. Write your answer in the form a6/b, where a and b are integers. c. Find the area of the triangle. Write your answer in the form p6/q, where p...
-
A company wishes to hedge its exposure to a new fuel whose price changes have a 0.6 correlation with gasoline futures price changes. The company will lose $1 million for each 1 cent increase in the...
-
R. Santiago Co. uses special journals and a general journal. The following transactions occurred during May 2014. May 1 R. Santiago invested $40,000 cash in the business. 2 Sold merchandise to Lawrie...
-
Consider a market with 4 agents a,...,d and 4 houses 1,...,4. The preference orders of agents over the houses are given by a: 1>2>3>4 b:1>2>3>4 c:1>2>3>4 d:4>3>2>1 How many Pareto efficient...
-
Air is compressed in an isentropic compressor from 15 psia and 70°F to 200 psia. Determine the outlet temperature and the work consumed by this compressor per unit mass of air. 200 psia Air...
-
i. ii. The state of plane strain at a point is represented by the following components: iii. Ex = 550(10~6), &y = 340(10-6),Yxy : == Draw Mohr's circle to represent this state of strain. -260(10-6)...
-
When it comes to personal selling, the term win-win gets thrown around so much that it has become a clich. But at Procter & Gamble, the selling concept that the company benefits only if the customer...
-
Social media networks seem numberless these days, but only an elite few that started in the early days of the World Wide Web still survive. One of those is LinkedIn, a social media site that debuted...
-
When people think of buying and selling things online locally, most think automatically of Craigslist, the classified ad marketplace that has dominated that business for the past two decades. But as...
-
China has emerged as an enormous social media market. With more than 1.35 billion people and 635 million internet users, internet usage in China is growing explosively at about 30 percent annually....
-
Facebook has more than 2 billion monthly active users. What started as an online social network allowing people to connect with each other has transformed into a behemoth media mogul and a real...
-
a. What is the Multidimensional Poverty Index and how is it a more improved measure of poverty? b. What are the main factors taken into consideration when constructing the new HDI (the sub-elements...
-
Should U.S. antidumping laws be stated in terms of average total costs or average variable costs?
-
Part 1 Three companies jointly buy a 15-oor ofce building. Each oor in the building has a separate legal title, which allows a oor to be sold separately. Each company takes title of ve of the oors,...
-
MEZ Ltd. has nally concluded its negotiations to take over Norma Ltd., and has secured ownership of all the shares of Norma. One of the areas of discussion during the negotiation process was the...
-
The United Football League (UFL), a North American professional football league, has been in work stoppage since July 1, 2013, immediately after the six-week training camp ended. Faced with stalled...
-
Reconsider Problem 18. Management has decided that the $5 million raised through stock should be split between common stock and preferred stock. Common stock will be used to raise $3,000,000 and...
-
Repeat Problem 23 assuming that the stock price is growing at 3 percent per year. Data from problem 23 Lahoma Enterprises, Inc., needs $15 million to finance a major product development. The project...
-
Repeat Problem 23 assuming the stock offering will be preferred stock rather than common stock. The preferred stock will sell for $120/share, pay a $9 annual dividend, and have a cost of selling of...
Study smarter with the SolutionInn App