Assignment-1: Decision AnalysisDraw and analyze the following decision tree using excel. Determine the expected value ofalternatives (A&B)). Determine which alternative is best.Alternative AAlternative B0.300.500.200.300.500.201/31/31/31/3551/31/31/21/26090404460(45)495994050304050

Answered: Assignment-1: Decision Analysis Draw…

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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A survey was conducted to determine whether hours of sleep per night are independent of age. A sample of individuals was asked to indicate the number of hours of sleep per night with categorical options: fewer than 6 hours, 6 to 6.9 hours, 7 to 7.9 hours, and 8 hours or more. Later in the survey, the individuals were asked to indicate their age with categorical options: age 39 or younger and age 40 or older. Sample data follow. Age Group Hours of Sleep 39 or younger 40 or older Fewer than 6 38 36 6 to 6.9 60 57 7 to 7.9 76 74 8 or more 66 93 (a) Conduct a test of independence to determine whether hours of sleep are independent of age. (b) What is your estimate of the percentages of individuals who sleep fewer than 6 hours, 6 to 6.9 hours, 7 to 7.9 hours, and 8 hours or more per night?
Please refer to the decision tree below and answer the following question. Note: You want to maximize your expected value. Decision Choice 1 $0 Choice 2 $0 Event A $1,000 Event B $500 Event A $1,300 Event B $300 X 1-X 1-X
How can we interpret Decision curve analysis in prognostic research?
O Macmillan Learning A description of different houses for sale includes the square footage of the house, whether or not the house has a finished basement, and the monthly electric bill. Which of the variables is categorical? whether or not the house has a finished basement the monthly electric bill the square footage of the house. All of the answer options are correct.
= The average owning and operating costs for four types of vehicles in a country for a recent year include small sedans ($6556), medium sedans ($8590), SUVs ($11,389), and minivans ($9629). Use a Pareto chart to display the data. Describe any patterns. Which Pareto chart below displays the data? O A. O C. Cost Cost Owning and Operating Costs I $12000- $10000- $8000- $6000- $4000- $2000- $01 $12000- $10000- $8000- $6000- $4000- $2000- $0 Medium Minivan SUV Type of Vehicle Owning and Operating Costs SUV Minivan Medium Type of Vehicle Small Small Q O B. SO D. Cost Cost $12000- $10000- $8000+ $6000- $4000- $2000- $0- $12000- $10000- $8000- $6000- $4000- $2000 $0- Owning and Operating Costs M Medium SUV Minivan Type of Vehicle Owning and Operating Costs SUV [ Medium Minivan Type of Vehicle Small Small Q Q Next
Dataset: NES. Variables: spend8, nesw.) The NES dataset contains spend8, which records the number of government policy areas where respondents think spending should be increased. Scores range from 0 (the respondent does not want to increase spending on any of the policies) to 8 (the respondent wants to increase spending on all eight policies). The NES, of course, polls a random sample of U.S. adults. In this exercise you will analyze spend8 using the Analyze ▶ Compare Means ▶ One-Sample T Test procedure. You then will draw inferences about the population mean. Make sure you weight observations using the nesw variable so your results are nationally representative. A. The spend8 variable has a sample mean of ______.
The Navy uses a certain type of vacuum tube in a sonar scanning device. Based on past experience, the vacuum tube exhibits the following failure pattern: Number of Months of Operation Probability of Failure1 0.12 0.13 0.24 0.15 0.36 0.2 Failures during operation cost $200 each, but the tube can be replaced before failure for $50. Find the optimal replacement strategy.
please show all your steps (including decision trees)
Using the MINIMAX regret method, which decision alternative will you chose? a) Sell company b) Form Joint Venture c) Sell software on own
Why not? 127 Consider another oil-wildcatting problem. You have mineral rights on a piece of land that you believe may have oil underground. There is only a 10% chance that you will strike oil if you drill, but the payoff is $200,000. It costs $10,000 to drill. The alternative is not to drill at all, in which case your profit is zero. a Draw a decision tree to represent your problem. Should you drill?
Multiple Choice Question An educational software company wants to compare the effectiveness of its computer animation for teaching biology with that of a textbook presentation. The company gives a biology pretest to each of a randomly chosen group of high school juniors, and then randomly divides them into two groups. One group uses the animation, and the other studies the test. The company retests all students and compares the increase in biology test scores in the two groups. What was the independent (explanatory) variable in this study? A. Whether or not the student used the computer animation B. The student's score on the biology test C. What grade the student was in D. High school Jr's taking Biology

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