A.A product which was certain to weigh 130 grams, but which had a guaranteed lifetime of only 1 year.B.A gamble which offered a 0.7 probability of a product with a weight of 130 grams and a guaranteed lifetime of 3 years and a 0.3 probability of a product with a weight of 290 grams and a guaranteed lifetime of 1 year.Finally, the team leader said that he would be indifferent between alternatives C and D below.C.A product which was certain to weigh 290 grams, but which had a guaranteed lifetime of 3 years.D.A gamble which offered a 0.9 probability of a product with a weight of 130 grams and a guaranteed lifetime of 3 years and a 0.1 probability of a product with a weight of 290 grams and a guaranteed lifetime of 1 year.Question: What further analysis should be conducted before a firmrecommendation can be made to the team leader? The leader of Lightning's research and development team has estimated that if the plastic design isdeveloped there is a 60% chance that the resulting system would add 130 grams to a bicycle's weightand would have a guaranteed lifetime of 1 year. He also reckons that there is a 40% chance that aproduct with a 2-year lifetime could be developed, but this would weigh 180 grams.Alternatively, if the metal design was developed the team leader estimates that there is a 70% chancethat a product with a 2-year guaranteed life and weighing 250 grams could be developed. However, heestimates that there is a 30% chance that the resulting product would have a guaranteed lifetime of 3years and would weigh 290 grams.It was established that, for the team leader, weight and guaranteed lifetime were mutually utilityindependent. The following utilities were then elicited from him:Weight (grams)130180250290Utility1.00.90.60Guaranteed lifetime(years)321Utility1.00.60After further questioning the team leader indicated that he would be indifferent between thefalle

A.A product which was certain to weigh 130 grams, but which had a guaranteed lifetime of only 1 year. B.A gamble which offered a 0.7 probability of a product with a weight of 130 grams and a guaranteed lifetime of 3 years and a 0.3 probability of a product with a weight of 290 grams and a guaranteed lifetime of 1 year.Finally, the team leader said that he would be indifferent between alternatives C and D below. C.A product which was certain to weigh 290 grams, but which had a guaranteed lifetime of 3 years. D.A gamble which offered a 0.9 probability of a product with a weight of 130 grams and a guaranteed lifetime of 3 years and a 0.1 probability of a product with a weight of 290 grams and a guaranteed lifetime of 1 year. Question: What further analysis should be conducted before a firmrecommendation can be made to the team leader?

A.A product which was certain to weigh 130 grams, but which had a guaranteed lifetime of only 1 year. B.A gamble which offered a 0.7 probability of a product with a weight of 130 grams and a guaranteed lifetime of 3 years and a 0.3 probability of a product with a weight of 290 grams and a guaranteed lifetime of 1 year.Finally, the team leader said that he would be indifferent between alternatives C and D below. C.A product which was certain to weigh 290 grams, but which had a guaranteed lifetime of 3 years. D.A gamble which offered a 0.9 probability of a product with a weight of 130 grams and a guaranteed lifetime of 3 years and a 0.1 probability of a product with a weight of 290 grams and a guaranteed lifetime of 1 year. Question: What further analysis should be conducted before a firmrecommendation can be made to the team leader?

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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6.34. Jay has two jobs to do, one after the other. Each attempt at job i takes one hour and is successful with probability p¡. If p₁ = .3 and p2 = .4, what is the probability that it will take Jay more than 12 hours to be successful on both jobs?
4.1.31 Each of two parents has the genotype brown / blue, which consists of the pair of alleles that determine eye color, and each parent c alleles to a child. Assume that if the child has at least one brown allele, that color will dominate and the child's eye color will be browr a. List the different possible outcomes. Assume that these outcomes are equally likely. b. What is the probability that a child of these parents will have the blue / blue genotype? c. What is the probability that the child will have brown eye color? OC. brown / brown, brown / blue, and blue / blue O D. brown / blue and blue / brown b. The probability that a child of these parents will have the blue / blue genotype is (Round to two decimal places as needed.) Enter your answer in the answer box and then click Check Answer. 1 part remaining Clear All Check Answ
8. 6. Silvio can't find his keys. He suspects they re either in his car or in his apartment. His personal probability is 6/10 that they're in one of those two places. But he searched his car top to bottom and didn't find them, so his personal probability that they're in his car is only 1/10. On the other hand, his apartment is messy and most of the time when he can't find something, it's buried somewhere in the apartment. So his personal probability that the keys are in his apartment is 3/5. Explain how to make a Dutch book against Silvio.
A gambler simulates a new card game on a computer. Out of 500 trials he wins 200 times. So he calculates P(winning) = 200/500 = 0.40. Why is this only an estimate of the true value of P(winning)? A. There are more than 2 events B. The outcomes are not equally likely C. His estimate is not rounded to 3 decimal places D. If he were to do a different set of 500 trials, he might win 180 times and calculate a different value of P(winning)
A barbershop has the following demand for haircuts on Saturday, which is its busiest day of the week. Number of Haircuts Probability20 .125 .330 .435 .140 .1a. What is the average demand for haircuts on Saturday?b. If the capacity is 35 haircuts, what is the average utilization of the shop?c. If capacity is 35 haircuts, how much of a capacity cushion does it have?d. If it costs $50 per lost haircut due to customer dissatisfactionand $100 for each unit of capacityprovided, how much capacity should be built tominimizecosts?
19.
Please answer step d.