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- Data in the matrix below indicates COST expected from 3 alternatives under 4 states of nature. Determine which alternative is dominant using With and Without Probability (use a = 0.3 and probability of: 30%; 20%; 40% & 10% for S1, S2, S3, and 54 respectively): Which alternative is best using Expected Value? Alternatives S1 53 S4 A1 10 18 15 A2 12 25 20 A3 15 19 25 S2 20 15 181) Data in the matrix below are COST in millions, determine which alternative is dominant using With and Without Probability (use a = .15 and probability of: 20%; 50% & 30% for S1, S2 and S3 respectively): Alternatives States of Nature Si S2 S3 D1 4.5 3 2 D2 2.5 4 1 D3 1 3.PlsAnswer the first three question fully with your own knowledge
- A researcher studying the effects of a new fertilizer on crop yields plansto carry out an experiment in which different amounts of the fertilizerare applied to 100 different 1-acre parcels of land. There will be fourtreatment levels. Treatment level 1 is no fertilizer, treatment level 2 is50% of the manufacturer’s recommended amount of fertilizer, treatmentlevel 3 is 100%, and treatment level 4 is 150%. The researcher plans toapply treatment level 1 to the first 25 parcels of land, treatment level 2to the second 25 parcels, and so forth. Can you suggest a better way toassign treatment levels? Why is your proposal better than the researcher’smethod?Suppose X is a random variable with possible values -2,3 and 1 and with respective probabilities 0.22, 0.35, and 0.43 then the mean and standard deviation of X, respectively, are: of a. 1.04 and 1.838 O b. 1.04 and 1.876 O c. 0.667 and 1.876 d. 1.04 and 0.3733 O e. 0.667 and 0.3733Q4: An investor invests $1000 a month, on average, in a stock market security. Because the investor must wait for good "buy" opportunity, the actual time of purchase is random. The investor usu- ally keeps the securities for about 3 years on the average but will sell at random times when a good "sell" opportunity presents itself. Although the investor is generally recognized as a shrewd stock market player, past experience indicates that about 25% of the securities decline at about 20% a year. The remaining 75% appreciate at the rate of about 12% a year. Estimate the inves- tor's (long-run) average equity in the stock market. Hint: use the average number of securities in the market.
- urgent 1.9. Consider a hybrid method that works as follows. The voters registertheir weight in ounces with the election board. Candidate A wins if thetotal weight (literally) of the voters that support him is at least 70%of the total weight of all voters. Otherwise candidate B wins. Does thishybrid method satisfy(a) the anonymity criterion?(b) the neutrality criterion?(c) the monotonicity criterion?(d) the decisiveness criterion?(e) the near decisiveness criterion?please show your thought process on this Im pretty sure its D but im not 100% confident10) a) What are the probability distributions for the annual benefit and life for the following project? The annual benefit's most likely value is $7000 with a probability of 60%. There is a 30% probability that it will be $4000, and the highest value that is likely $9,000. A life of 6 years is twice as likely as a life of 9 years. b) The project has a first cost of $25,000. The firm uses an interest rate of 8%. Assume that the probability distributions for annual benefit and life are unrelated or statistically independent. Calculate the probability distribution for the PW c) The first cost of the project is $25,000. Use the expected values for annual benefits and life to estimate the present worth. Use an interest rate of 8%. d) Use the probability distribution function of the PW to calculate the EV(PW). Does this indicate an attractive project? F) Using the probability distribution for the PW, calculate the PW's standard deviation.
- The Kwik Klean car wash loses $250 on rainy days and gains $1200 on non rainy days. If the probability of rain is 0.13, what is the expected net profit?Solve this early all three subparts.During your first month as an employee at Engro. Industries (a large drill-bit manufacturer),you are asked to evaluate alternatives for producing a newly designed drill bit on a turningmachine. Your boss’ memorandum to you has practically no information about what thealternatives are and what criteria should be used. The same task was posed to a previousemployee who could not finish the analysis, but she has given you the following information:An old turning machine valued at $350,000 exists (in the warehouse) that can be modified forthe new drill bit. The in-house technicians have given an estimate of $40,000 to modify thismachine, and they assure you that they will have the machine ready before the projected startdate (although they have never done any modifications of this type). It is hoped that the oldturning machine will be able to meet production requirements at full capacity. An outsidecompany, Descon Engg. Inc., made the machine seven years ago and can easily do the…