A missing helicopter is reported to have crashed somewhere in the rectangular region shown in Figure. What is the probability that it crashed inside the lake shown in the figure? 6km 9 km
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- How would you go about calculating the likelihood of a "super-event" or a "unique event?" What variables would you take into account ?Alternative Alternative 1 Alternative 2 Alternative 3 State of Nature Outcome 1 ($) 800 500 700 0.62 Probability according to the payoff table? OEMV (Alternative 1) = $900 EMV (Alternative 3) is the highest EMV EMV (Alternative 2) = EMV (Alternative 3) EMV (Alternative 1) is the highest EMV Outcome 2 ($) 1000 1200 900 0.38 Which of the following statements is correctThe computer manufacturer Skynet is relatively new in the industry. Their stated mission was the innovation of mobile computing for a better future. For the past 8 years they have been producing laptops, with the latest model the T-1000 released at the start of last year. Summary of Sales per model (in thousand $) 245 Skynet T-101 Skynet T-600 359 Skynet T-700 371 Skynet T-800 533 Skynet T-850 303 Skynet T-1000 218 What was the sales percentage for their latest model laptop? note: write the number with at most 2 decimal places without the unit (eg. 95.17 and NOT 95.17%)
- The owner of a small business is considering three options: buying a computer, leasing a computer, or getting along without a computer. Based on the information obtained from the firm's accountant, the following payoff table (in terms of net. profit) was developed: State of Nature State # 1 State # 2 State # 3 Alternative (S1) (S2) (S3) A1 6. A2 АЗ 4 Based on the probability for each state of nature in previous question(the probability for S1 to happen equals the probability of S2; the probability for S2 to happen is three times of S3). What is the EVPI? O 5.29 O Can't be computed with the given information O 114 O 642The number of hybrid cars that have be requested for rental from a car rental office during a 50 day sample period is given in the following table. Demand for Cars Number of Days Probability 3 3 0.06 4 7 0.14 5 12 0.24 6 14 0.28 7 10 0.20 8 4 0.08 50 1.00What is the expected (mean) number of hybrid rentals per day? Compute to one decimal place.Classify the following risks into variation, foreseen uncertainty, unforeseen uncertainty, and chaos:e. The excavation process for a new manufacturing plant in the U.S. Midwestuncovers an archaeological find of such significance that no building can takeplace on that site and a new site for the plant must be found.
- Calculate the coefficient of elasticity, knowing that the average value of the outcome sign is 87.5, the average value of the factor sign is 11.8, and the parameter 1 is 1.87:Describe the centre of gravity method?The Energy Tech Company is considering making a bid for a fuel processing contract from the Uganda government. Energy Tech's CEO decided to bid $112 million. The management team estimates that it has a 60% chance of winning the contract with this bid amount. If the company wins the contract, it can choose one of three methods for processing the fuel. The company can develop a new method to process the fuel, use the existing process, though inefficient, or to subcontract the processing to a number of smaller companies once they get the fuel. The following tables present the results of these alternatives: DEVELOP NEW PROCESS Outcomes Probability Profit in ($1,000,000s) High success 0.30 $600 Moderate success 0.60 $300 Failure 0.10 ($100) USE CURRENT, BUT INEFFICIENT PROCESS: Outcomes Probability Profit ($1,000,000s) High success 0.50 $300 Moderate success 0.30 $200 Failure 0.20 ($40) SUBCONTRACT: Outcome…
- Reliable Transportation Company limited is involved in the transportation of products for several manufactures island wide. In recent times the Government of Jamaica through the China Harbour Engineering Company (CHEC) has been involved in road infrastructural development island wide. Senior management of Reliable transportation has established several nodal points throughout the island including at the 2 major airports and they have hired you in the capacity of consultant to operations. Briefly state (Bullet points) to the senior management team three main types of risks and mitigation strategies as Reliable transports a shipment between 3 nodes.Sun TV sells TV sets. It does not sell smart TVs so customers do not come to Sun TV if they want to purchase smart TVs. Sun TV wants to start selling smart TVs and will only sell smart TVs to customers to whom they advertise. Managers use customer information (income level, previous purchase history) to decide which customers they should target. The team needs to decide how sure it must be in predicting customer interest in a smart TV. If it is too cautious, it will choose a very high cutoff probability and only market to customers who it believes are very likely to be in the market for a smart TV. This may cause them to miss out on many customers. If they are too aggressive and choose a low cutoff probability, they may identify more individuals interested in buying smart TVs but also end up wasting marketing dollars on customers who are not interested in purchasing smart TVs. To choose a cutoff probability, the team develops the confusion matrices below for two cutoff probabilities on…Classify the following risks into variation, foreseen uncertainty, unforeseen uncertainty, and chaos:f. Competitors to the iPad launch smaller tablet computers before the iPad mini isready to launch, thus negatively affecting demand for the iPad.
