A decision matrix with cost data is given below:Find the best alternative using:(i)Minimum criterion (ii) minimum criterion (iii) minimum regret criterionStades of NatureS3AlternativesS1S2S4a1138a22547a34a48353.

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Answered: A decision matrix with cost data is…

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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You wish to assess whether Los Angeles has an equitable distribution of police services among its precincts compared to nearby cities. You theorize that if police resources are distributed equitably, average response times for emergency calls should be fairly similar from one precinct to another within the city. On the other hand, if response times are much higher in some precincts than others, police resources are probably not distributed as equitably as possible. You decide to compare the City of LA to the other cities in the rest of LA County. You are hypothesizing about differences in the mean between the City of LA and other cities. State in plain English the null and research hypotheses for this study.
A sample of size 50 will be drawn from a population with mean 76 and standard deviation 14. Find the 69th percentile of x.
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Beagle Clothiers uses a weighted score for the evaluation and selection of its suppliers of trendy fashion garments. Each supplier is rated on a 10-point scale (10 = highest) for four different criteria: price, quality, delivery, and flexibility (to accommodate changes in quantity and timing). Because of the volatility of the business in which Beagle operates, flexibility is given twice the weight of each of the other three criteria, which are equally weighted (the sum of the four weights equals 1). The table shows the scores for three potential suppliers for the four performance criteria. Supplier A Supplier decimal place.) Criteria 1. Price 2. Quality 3. Delivery 4. Flexibility Based on the highest weighted score, which supplier should be selected? should be selected, with a total weighted score of 6 7 5 co C Rating Supplier B Supplier C 8 9 8 6 8 7 5 8 6 (Enter your response rounded to one
Westminster Financial has released a summary of investor and investment package information from the past fiscal year. During this time, Westminster provided a choice among 12 pre-designed investment packages. The investment packages were classified according to two variables: riskiness of investment package chosen ("Risky", "Moderate/mixed", and "Conservative") and age of investor ("Under 35", "35-49", or "50+"). Suppose that we're interested in the possible relationship between the age of the investor and the riskiness of the investment package the investor chose. The following contingency table gives a summary of the information released by Westminster regarding age and riskiness of investment package for 150 investors. In the cells of the table are the respective observed frequencies, and three of the cells also have blanks. Fill in these blanks with the frequencies expected if the two variables, riskiness of investment package chosen and age of investor, are independent. Round…
Thompson and Thompson is a steel bolts manufacturing company. Their current steel bolts have a mean diameter of 132 millimeters, and a variance of 64. If a random sample of 39 steel bolts is selected, what is the probability that the sample mean would be greater than 128.2 millimeters? Round your answer to four decimal places. Answer How to enter your answer (opens in new window) Keypad Keyboard Shortcuts Tables
Mrs Moore is a agriculturalist and would like to drill for water on her farm. She needs water for irrigation and estimates the benefits of having a successful borehole as $2.0m. However, there is only a 10% chance that she will strike water if she drills and the cost of drilling is $100 000. The alternative is not to drill at all, in which case the benefit will be zero. Draw a decision tree to represent the problem. Should Mrs Moore go ahead and drill? There is another agriculturalist in a nearby state who claims to have supernatural powers to indicate underground water sources. However, he charges a fee and also travel cost. What is the most Mrs Moore should pay for the services? Before Mrs Moore drills, she could also consult a geologist who can assess the promise of the piece of land. He can tell her whether the prospects are “good” or “poor.” But he is not a perfect predictor. If there is water, the conditional probability is 0,95 that he will say that prospects are good. If…
Exercise 2. Marginal and Conditional Relationships can be Very Different. For 100 mild cases of eczema, a new treatment had a higher cure rate than the old treatment (33.3% of 90 vs. 20% of 10). For 100 severe cases of eczema, again the new treatment had a higher cure rate than the old treatment (60% of 20 vs. 50% of 80). Over all 200 eczema cases, however, the old treatment had a higher cure rate than the new treatment- i.e. Simpson's Paradox strikes again. (a) Compute the overall cure rates for the new and old treatments. (b) Which treatment, old or new, would you choose and why?

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A decision matrix with cost data is given below: Find the best alternative using: (i)Minimum criterion (ii) minimum criterion (iii) minimum regret criterion Alternatives Stades of Nature S1 S2 S3 S4 a1 3 5 a2 2 5 4 a3 4 3 a4 6 8 3 00