A) Determine the daily expected value of the new machine. B) Determine the yearly value of the new machine. 4. Suppose that our company performs DNA analysis for a law enforcement agency. We currently have twomachines that are essential to performing the analysis. When an analysis is performed, the machine is in use forhalf of the day. Thus, each machine can perform at most TWO DNA analyses per day. Based on past experience,the distribution of analyses needing to be performed on any given day are as follows: (Fill in the table first.)Jobs12345678 or moref(x)0.020.060.090.120.150.180.160.090.13We are considering purchasing a third machine. For each analysis that the machine performs, we profit $1500. Whatis the yearly expected value of this new machine? (Assume 365 days per year- no weekends or holidays.)

Given that Jobs 0 1 2 3 4 5 6 7 8 or more f(x) 0.02 0.06 0.09 0.12 0.15 0.18 0.16 0.09 0.13…

Answered: 4. Suppose that our company performs…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Corn crop yields vary by state. In 2008, IOWA averaged 172 bushels/acre. On September 3, 2009, the published market price per bushel was 319.25 cents/bushel. Jimmy Harold is analying a heavily leveraged purchase of some additional acreage, and his decision to purchase is based on the expected yield during his first crop year. After analyzing historical rainfall and long range weather forecasts, Jimmy compiled the following table of crop yields. rainfail yield(bu/acre) probability below average 154 0.15 average 172 0.4 above average 177 0.45 What is the expected corn crop yield, E[Y] based on the data in Jimmy's? E[Y] = (to 2 decimal places).
Need help with the last one please!
Suppose that you are a researcher and wish to construct a linear mathematical (statistical) model that relates the number of years and the corresponding exports (million U.S.$) of a country. The constructed model may use to forecasts the future values. You have obtained the relevant data for the during of 1990 to 1995 and you have listed the data in Table 5. Table 5. Shows the list of the amount that have earned on exports Year No. 1 2 3 4 5 6 Exports 4954 6131 6904 6813 6803 8137 (a) Construct a suitable graph that explains the relationship between the number of years and the corresponding exports. (b) Construct a mathematical (Statistical) model by using least square method between number of years and the corresponding sales. (c) Interpret the slope of the estimated linear model (d) Forecast the value of exports by using the estimated linear model for the year of 2000
The following graph plots the fitted probabilities of default (y axis) depending on the credit balance (x axis) with the linear probability model (left) and the logistic model (right). Which alternative is NOT correct 500 1000 1500 2000 2500 500 1000 1500 2000 2500 Balance Balance O a. There will always be a balance level such that the probability of default according to the linear probability model is above 100% O b. The logit model supposes that the error term of the latent variable follows a logistic distribution O C. The linear probability model estimates probabilities of default below 0% Od. The probability of default lower than 50% is a frequent feature of linear probability models e. The logistic model estimates probabilities between 0% and 100% 00 80 90 YO 0 Probability of Default R'O 90 o zo o'o Probability of Default
The ABC Company is involved in the production and selling of consumer goods, particularly beauty products such as bath soap and shampoo and had registered a positive profit growth for the last 10 years. However, the current year seems to be different from those years as the company is expecting a decline in profit; which is estimated to be about 70% below the target. The manager now is in a dilemma … asking himself/herself “What happened, why this decline in profit?” The Manager then asked the company Accountant to give him/her the data on sales and advertising cost for the last 10 years – he/she wants these data to determine whether the company can live without advertising, as advertising cost happens to be substantial. Justify your answer by doing as step-by-step procedure in Correlation Analysis using a 0.05 level of significance. The data are as follows –
.A new, miracle diabetes drug that diminishes major symptoms of diabetes has been approved by the FDA. Health care professionals and researchers believe that the new drug will prolong lifespan of diabetes patients. If the population is in steady state and the incidence is constant, what will the effect of this new drug be on the prevalence of diabetes in the population? Explain.
The chance of an IRS audit for a tax return with over $25,000 in income is about 2% per year. We are interested in the expected number of audits a person with that income has in a 16-year period. Assume each year is independent. Part (a) Part (b) List the values that X may take on. X=0, 1, 2,..., 15, 16 OX= 1, 2, 3, OX= 1, 2, 3, OX=1,2,3,... 15, 16 98, 99, 100 Part (c) Give the distribution of X X-B 0.02 □ Part (d) How many audits are expected in a 16-year period? (Round your answer to two decimal places.) 0.32 audits Part (e) Find the probability that a person is not audited at all. (Round your answer to four decimal places.) Part (1) Find the probability that a person is audited more than twice. (Round your answer to four decimal places.)
Urgent Care is organized in to 4 department: Registration (Reg), Waiting (Wait), Treatment (Treat), and Payment & Check Out (PCO). For all patients who receive treatment at the Urgent Care, the expected time (in minutes) per patient needed in each of the departments: Reg. Wait. Treatment PCO 10 15 30 3 or 2 All patients enter and register at the registration cubicle. After registering, 10% of the patients walk out without waiting and seeing the physician for treatment. However, still they have to walk through the PCO & return the admissions slip. These patients need only 2 min at PCO (instead of 3 min). No waiting and treatment time for patients who walk out. Simulate the total time spent in the Urgent care for the first patient. Total time spent by Patient 1 at the Urgent Care is . RN: 0.05 Hint: Need to check (simulate) whether a patient, after registering( 10 min), walks out or not. O 2 min O 12 min O 10 min O None of these
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Claims for a health company insurance are exponentially distributed. An insurance company offers the subscriber two different types of insurance, class A has a coverage of 1.54. For a random loss, with a probability of 0.640. Class B has a coverage of d. with a probability of 0.512. The value of d is:
Consider a service facility with four clerks. Clerk one works at rate 14/hour; Clerk two at rate 18/hour; Clerk three at rate 20/hour; and Clerk four at rate 16/hour. All service times are independent and exponential. If when you arrive there is already one person waiting, what is your expected waiting time?
Create a decision three that would help the best decision for the company.

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