343 [0.20.54 0.8 0.5has a 70% chance of initially having 3 players, what is theprobability that the next game will also have 3 players?Given the transition matrix P =. If the first game

The transition matrix The first game has a chance of initially having player.

Answered: 3 4 3 0.2 0.5 Given the transition…

Advanced Engineering Mathematics

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ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

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The management is faced with the problem of choosing one of the products for manufacturing. The probability matrix after market research for the two products was as follows: State of nature Acts Good Fair Рoor Product 'A' 0.75 0.15 0.10 Product 'B' 0.60 0.30 0.10 The profits that the management can make for different levels of market acceptability of the products are as follows : Profit (in USD) if market is Acts Good Fair Рoor Product 'A' 35,000 15,000 5,000 Product 'B' -1,000 20,000 Loss 3,000 Calculate expected value of the choice of alternative and advise the management.
9
The four brands of soap have the current market share of 0.23, 0.28, 0.25, and 0.24 for brands A, B, C, and D, respectively. Below are the transition probability matrix of the soap brands based on their annual performance and the number of customers using the brands. 0.4 2300 T 0.3 2800 0.2 2500 2400 From/To A B C D A 0.2 0 0.3 0.3 B 0.3 0.2 0.5 0.4 C 0.1 0.5 0 0.3 D 0 a) What is the market share of Brand D in the long run? Answer in 2 decimal places. c) What is the mean return time of Brand A? Answer in 2 decimal places. b) How many customers will shift preference in using Brand C soap in the long run? Number of Customers d) What is the percentage change of Brand B? Answer in percentage and in 2 decimal places.
ess Statistics 1 (section20) || spring21 Suppose all 8 possible outcomes of an experiment are equally likely and denoted as E,, E2, E3, E4, Es, Eg, E7, Eg. If A = {E2, E3, E4, E5} and B = (E, E,, E,), then find P(A NB). a. 0.375 Ob. 0.125 OC. 0.250 O d. 0.625
The following is a payoff matrix for a 4x4 game between A (column player and B (row player). What is the expected value of this game if both players picked their (row or column) at random? -3 4 1 -2 -2 -3 4 1 1-2 -3 4 4 1-2 -3
(Devore: Section 2.4 #59) At a certain gas station, 40% of the customers use regular gas (A₁), 35% use plus gas (A₂), and 25% use premium A3. Of those customers using regular gas, only 30% fill their tanks (event B). Of those customers using plus, 60% fill their tanks, whereas of those using premium, 50% fill their tanks. (a) What is the probability that the next customer will request plus gas and fill the tank (A₂B)? (b) What is the probability that the next customer fills the tank? (c) If the next customer fills the tank, what is the probability that regular gas is requested? Plus? Premium?
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Omar commutes from his home to Concordia by car. To try to get to his class on time, he tries different routes to get to Concordia but heavy traffic and construction keeps occurring randomly along his four favourite routes: routes A, B, C, and D, which he takes with probabilities of 0.4, 0.15, 0.3, and 0.15, respectively. If he takes route A then he is on time for class with a probability of 0.7, if route B then he is on time with probability 0.9, if route C then he is on time with probability 0.8, and if route D then he is on time with probability 0.6. (a)What is the probability that Omar arrives to class on time? (b) If Omar arrives to class on time, what is the probability that he took route A?
7. Player A and player B have a payoff matrix shown below. If A (row player) has an optimal strategy of (424) and B has an optimal strategy of (1/3 1/3 1/3), what is the expected value of the game? P = 2 5 -2 -3 1 2-2 4 3

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3 4 3 0.2 0.5 Given the transition matrix P 4 0.8 0.5 has a 70% chance of initially having 3 players, what is the probability that the next game will also have 3 players? . If the first game