Summative assessment 2: Individual Report
Name of the Student :
1. a) with a growing need for better and more plentiful vaccines, traditional vaccine companies are responding by increasing the manufacturing capacity, the biotech industry with innovative products. Our company produces two types of vaccines, one type of vaccine requires an ultra-cold chain storage facility, i.e,” v1” while the other type of vaccine does not need an ultracold storage facility i.e, “v2”. The two vaccines were created with the objective of tackling coronavirus. The manufacturing of coronavirus vaccines is a potentially lucrative business and how much profit will our company harvest out of it is still questionable. Albeit the uncertainty I have made a rough assumption of which one out of the two vaccines will profit us more in the long run.
In order to balance out the upper bound and the lower bound are introduced. Let’s make The value of V1 be the upper bound constraint and the V2 be the lower bound constraint. Hence, the constraint equation can be used to find the cost variation between the upper bound and the lower bound constraint as they are interrelated to one another in a definite way. Assuming the cost of production (Cp) of V1 is $7 and that of V2 is $5 respectively. The cost difference between the two vaccines is $2. In order for both vaccines to be available in the market at the same interval of time with the same price, then the Cp of V1 can be reduced to $6 and the Cp of the V2 be increased by $6. Thus, the loss in the upper bound constraint can be compensated by adding $1 to the value of the lower bound constraint. That way, the company can procure profit. However, if one has to estimate the more profitable vaccine out of the two, we have to consider the following outcome-
Supply and Demand: But in the case of covid-19 vaccines, V1 vaccines are at a more advantage because such vaccines are able to produce more patents i.e. They use RNA messenger to trigger the immune response and it can be used for other treatments as well. Such a vaccine requires an exceptionally low temperature of negative 70 celsius. Until recently, the temperature-controlled storage and shipping of pharmaceutical products, “cold chain” was relatively a sleepy corner for the healthcare industry. But the virus and the temperature-sensitive vaccines that are poised to combat, have brought about new attention to the cold chain delivery system.
Therefore, considering the current pandemic and the urgent need for a good vaccine, the company can invest more in the V1 vaccine as opposed to the V2 vaccine. And once the pandemic is over, the company can revise again taking into consideration the fact that it would be more profitable for the company.
1. B) Amid the fevered speculation about the vaccines which will be more successful and as to when it will hit the market. The company needs to start preparing to distribute a vaccine. Planning for vaccine distribution needs to be transparent. While considering, the distribution of vaccine multiple factors comes into play. Vaccines are very sensitive and henceforth require constant supervision and are always in dire need of being monitored, making sure it is kept in the right temperature and environment. And hence it becomes very important to have the right resources, the right functionality and a very disciplined mode of work pace are required.
2) This report serves to provide a weekly sale update on the products sold by Toyz Factory of their iconic products i.e., superman and the batman toys as from 17th Feb to 23rd Feb. Toyz factory manufactures 400 toys (both the superman and the batman combined) weekly, using the 4000 litres of the chemical compound available at a given week. The given graph below shows the number of toys sold each day in the given week.
a) total no of toys produced from the 17th to 23rd Feb is 400. Focusing on the reports of the marketing department, where the demand for Batman is triple that of superman. The production team manufactured 300 units of batman toys and 100 units of superman toys. The rate of profit earned from both the toys are $40 (superman) and $25 (batman) respectively. Profit return from batman toys were $7500 and $4000 from superman respectively on the given week. Report from the sales graph shows that Saturday was the most profitable day with a sales figure of 100 batman units and 25 superman units sold, earning a profit of $3500. Evidently, the maximum profit, as well as the maximum number of toys, will be yielded from the batman toys.
2b) where x= total profit earned
And y= total number of toys manufactured.
c) The total expenditure for the 4000 litres of chemical compound is $2000. Out of the 4000 litres, 3200 litres of chemical compounds were used in the given week of manufacturing the toys. Taking into account the total expenditure and the net profit, $7500 earned from selling the toys, 1600 expenditure on the chemical compounds, which results in the overall profit of $5900 respectively.
d) considering the recent growing inflation and scarcity of chemical compounds, it is estimated that the factory might fall short in meeting the required amount of chemical compounds in the coming weeks. It is also estimated that the availability of chemical compounds might be reduced to 3000 litres, whereas 3200 litres is required on average to meet the demand on the market. Availability of 3000 litres will result in manufacturing only 375 toys as against 400 toys from the previous weeks. Hence, it is expected that the company will incur a loss of $730 in the coming weeks.
3a) The following report is based on a test conducted by the University of Exeter on a drink made by a company and the drink supposedly helps in boosting memories.
|Null hypothesis||Alternate hypothesis|
|100 students who claims they are ardent consumers of the drink||Another 100 students who had never consumed the drink|
3b) to assume the reliability of the test conducted, a number of people were selected to take part in the test. The people taking part in the test were A, B, C and D respectively. The ratings of all these four people are listed below in the table. The total number set for the ratings was 38.
|People who took the test||Points scored|
Hence, Mean= Sum of the no of observation ÷ sum of the no of people
Therefore, 38 ÷ 4= 9.5
Standard deviation = 0.9
And as shown by the test conducted on these four people namely A, B, C and D and the noted deviation value procured through this process we came to the conclusion that the consumption of the so-called drink has brought about better memory call. Hence, the drink is supposedly a good one.
3c) The data procured from the given test above it is clear that the product is highly untarnished but the possibility that the research done on the drink is completely transparent cannot be agreed upon. Some factors that inclined towards some biased commentary are as follows-
- The ethical morals and values of the people involved in the test is questionable because the ratings given to the drinks were all too high. There was no negative feedback to begin with. The product might have been good but the possibility of some unethical means cannot be ruled out at all.
- There is also a possibility that the people considered for the test might have been carefully selected and just taken on a whimp. The researchers might have hand- picked the four people who had a good memory from the beginning and hence, the result was positive. (Bell,2018)
- Humans are naturally inclined to acquiring the best of everything. And to think that there is a possibility to acquire good memory just by gluping in a drink is a temptation that cannot be ignored. And so, the makers of the product might have come about with various creative ads to entice the customers into luring and trying out the product.
- There is a saying, a person with good memories are either born with it or are acquired by constantly practising memory related exercise and being utterly disciplined. So to think that a simple drink can bring about such transformation is quite unbelievable. I mean technology is constantly evolving but to think that it had the capacity to bring about such form of metamorphosis in a human is still very questionable. (Hoelscher,2018)
|year||No. of weekly commuters via park and ride (column B)||Average cost to commute per weeks in rupees (Column C)||No of individuals working per week
|Average income per week via park and ride||Average parking rate of those who do not use park and ride|
It is estimated that the global temperature will keep on increasing with time and hence it is a topic that has to be seriously spread and made aware of among the nations. Therefore, research was conducted, where an analysis was carried out by the University of Exeter among its staff members and students. The objective of the research was to make people use the park and ride facility in order to generate less exhaust from the vehicles of those studying and working in the university. For the experiment to be successful the students and the staff had to spend some amount of money for their transportation. Thus, by doing so they are influencing and encouraging people to use public transportation or bicycles as a mode of transportation. From the data collected it is clear that the number of people availing of the facility has increased over the last few years. One very important factor that led to people commuting over the practice of park and ride was that the cost of public transportation was cheaper and they could also save up some extra pocket money (Kumar,2020). The second factor that might have played a role in convincing the people to practise the park and ride system was the traffic. The city life is always packed with hustle and bustle. Everyone has something up their sleeve. And because of which individuals travelling through their private-owned vehicles are often late because of the traffic. Either one has to wake up early and leave an hour or two ahead of the class hour or face the heavy traffics of the city. Also the cost of parking inside the college or the university campus are rather very expensive and so by following the park and ride system it was seen from the data that the students and staff were able to save up a lot of money. The average data collected of the people commuting to the availed system and that of the one’s not availing the system was in the ratio of 3:4. People not availing of the system was decreasing with the passage of years and those availing the system has seen a considerable high surge. Also, as this system of park and ride was introduced the air in and around the campus seemed to be fresher and cleaner. Must be because of the less exhaustion of harmful radicals and the campus was no longer crowded with vehicles and had more space for people to hang around or to study and vice-versa. Overall, the research was successful and had produced a very positive result more than it was intended to produce.
Bell, C., 2018. Introducing the MySQL 8 document store. Apress.
Cotos, E., Link, S. and Huffman, S.R., 2017. Effects of DDL technology on genre learning. Language Learning & Technology.
Hoelscher, J. and Mortimer, A., 2018. Using Tableau to visualize data and drive decision-making. Journal of Accounting Education, 44, pp.49-59.
Kumar, N.K., Sindhu, G.S., Prashanthi, D.K. and Sulthana, A.S., 2020, March. Analysis and prediction of cardiovascular disease using machine learning classifiers. In 2020 6th International Conference on Advanced Computing and Communication Systems (ICACCS) (pp. 15-21). IEEE.
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