Contractor 1 Two labour, four machineries, and three technology will result in a total cost of thirty-three
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- Contractor 1 Two labour, four machineries, and three technology will result in a total cost of thirty-three dollars. While one labour, two types of machinery, and one technology give a total profit of fifteen dollars. Lastly, ten labour, five machinery, and six technologies result in total revenue of eighty-three dollars. Contractor 2 No Proposal was submitted.
- a) From Contractor 1’s proposal, derive three (3) simultaneous equations. [3 marks]
- b) From the answer to part a) above, set these equations in matrix form [2 marks]
- c) Given that the government of Grenada only received one proposal, should the contract be awarded to Contractor 1? Give reason(s) for your answer. [2 marks]
- d) Give three (3) reasons why you believe Contractor 2 never submitted a proposal. [3 marks]
- e) After setting the equations in matrix form from part b) above, calculate all the cofactors of Matrix A. [9 marks]
- f) Which of the three resources do you expect Contractor 1 to price the most? Give two (2) reasons for your answer. [2 marks]
- g) Hence or otherwise, determine the price of Contractor 1’s labour, machinery and technology. [9 marks]
Related Book For
Business Analytics Communicating With Numbers
ISBN: 9781260785005
1st Edition
Authors: Sanjiv Jaggia, Alison Kelly, Kevin Lertwachara, Leida Chen
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