b. Demand for electricity next year is projected to be one of the following quantities:18,000GWH with probability of 0.4, 25,000GWh with probability of 0.4, or 30,000GWH.i. If this year's demand is 17,500GWH, what should be the additional amount to plan against ifthe energy ministry would want to plan for the increase using expected value analysis?ii. What is the standard deviation of the suggested accompanying amount?

Given that - Demand for electricity next year is projected to be one of the following quantities:…

Answered: b. Demand for electricity next year 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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Similar questions

.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.
4. Along with interest rates, life expectancy is a component in pricing financial annuities. Suppose that you know that last year average life expectancy was 77 years for your annuity holders. Now you want to know if your clients this year have a longer life expectancy, on average, so you randomly sample n=20 of your recently deceased annuity holders to see actual age at death. Using a 5% level of significance, test whether or not the new data shows evidence of your annuity holders now live longer than 77 years, on average. The data below are the sample data (in years of life): (78,75,83,81,81,77,78,79,79,81,76,79,77,76,79,81,73,74,78,79) a) Does this sample indicate that life expectancy has increased? Test an appropriate hypothesis and state your conclusion (use a 5% level of significance). Be sure to check the necessary assumptions and conditions before conducting your test. b) Construct A 90% confidence interval for the true average age of death for the population of your annuity…
If a fictional treatment costs a total of $45,000 at today’s value and increases a person’s quality of life from 0.5 to 0.6 for the remainder of the person’s life from age 70 onward, and the person’s expected life span increases from 73 to 75, what is the total gain in QALYs (Quality-adjusted Life Years), and what is the ICER (Incremental Cost-effectiveness Ratio)?
1. Studies of a specific enzyme activity showed that the time the enzyme activity before complete inactivity is exponentially distributed with a mean of 10 hours. Determine the failure rate.
4. When the Titanic sank in 1912, there were over 1,300 passengers aboard. A random sample of 50 passengers that were aboard is taken. The amount they paid for the voyage and whether or not they survived is recorded. A model is fit to predict the probability they survived when the ship sank is obtained. Survived Logistic Fit of Survived By Fare 1.00 0.75 0.50- 0.25- 50 4 Parameter Estimates 100 Term Intercept -1.404254 0.4353289 Fare 0.01246686 0.0097945 For log odds of Yes/No Fare Estimate Std Error ChiSquare 10.41 1.62 150 200 Prob> ChiSq 0.0013 0.2031 No Yes a) Suppose someone paid a fare of 25 pounds. Predict the probability they survived. b) How much would someone pay to have at least a 65% chance of survival?
The useful life of Johnson rods for use in a particular vehicle follows an exponential distribution with an average useful life of 5.2 years.You have a three-year warranty on your vehicle’s Johnson rod. What is the probability that the Johnson rod doesn’t fail before then? That is, what is the probability that its useful life doesn’t end before three years?b.If the vehicle manufacturer wants to limit the number of claims on the three-year warranty to 20%, what should the average useful life of the Johnson rod be?
The economic dynamism, which is the index of productive growth (in dollars) for countries that are designated by the World Bank as middle-income are in following table ("SOCR data 2008," 2013): Table: Economic Dynamism ($) of Middle Income Countries 25.8057 37.4511 51.915 43.6952 47.8506 43.7178 58.0767 41.1648 38.0793 37.7251 39.6553 42.0265 48.6159 43.8555 49.1361 61.9281 41.9543 44.9346 46.0521 48.3652 43.6252 50.9866 59.1724 39.6282 33.6074 21.6643 Compute a 95% confidence interval for the mean economic dynamism of middle-income countries by answering the following questions (iv) Determine t score corresponding to desired confidence level Enter value in decimal form rounded to nearest hundredth. Examples of correctly entered answers: 2.01 0.37 0.60 0.00 (v) Determine error bound of the mean: Enter value in decimal form rounded to nearest ten-thousandth. Examples of correctly entered answers: 0.0000 0.0003 3.0060 2.0700…
2 The operator of a pumping station has observed that demand for water during early afternoon hours has an approximately exponential distribution with mean 100 cfs (cubic feet per second). (a) Find the probability that the demand will exceed 250 cfs during the early afternoon on a randomly selected day. (Round your answer to four decimal places.) (b) What water-pumping capacity, in cubic feet per second, should the station maintain during early afternoons so that the probability that demand will exceed capacity on a randomly selected day is only 0.02? (Round your answer to two decimal places.) cfs
3
A company estimates that 0.1% of their product will fail after th original warranty period but within 2 years of the purchase, with a replacement cost of $350. If they offer a 2 year warranty for $18 , what is the company's expected value of each warranty sold?
Define on empirical way and a statistical way to choose the best forecasting model for your time series data. Consider the following situations: 1. The data has no trend or seasonality 2. The data has trend but not seasonality 3. The data presents trend and seasonality but negligible noise 4. The data presents trend, seasonality and significant noise.
10/8/23, 9:02 PM Area TABLE V -2.4 0.0082 0.0080 -2.3 0.0107 0.0104 -2.2 0.0139 0.0136 -2.1 0.0179 0.0174 -2.0 0.0228 0.0222 Standard Normal Distribution 03 04 .05 .06 2 .00 .01 .08 .09 07 -3.4 0.0003 0.0003 0.0003 0.0003 0.0003 0.0003 0.0003 0.0003 0.0005 0.0002 -3.3 0.0005 0.0005 0.0005 0.0004 0.0004 0.0004 0.0004 0.0004 0.0004 0.0003 -3.2 0.0007 0.0007 0.0006 0.0006 0.0006 0.0006 0.0006 0.0005 0.0005 0.0005 -3.1 0.0010 0.0009 0.0009 0.0009 0.0008 0.0008 0.0008 0.0008 0.0007 0.0007 -3.0 0.0013 0.0013 0.0013 0.0012 0.0011 00011 0.0010 0.0010 0.0016 0.0015 0.0015 0.0014 0.0014 0.0023 0.0022 0.0021 0.0021 0.0020 0.0019 0.0031 0.0030 0.0029 0.0028 0.0027 0.0026 0.0041 0.0040 0.0039 0.0038 0.0037 0.0036 0.0055 0.0054 0.0052 0.0051 0.0049 0.0048 0.0012 0.0011 -2.9 0.0019 0.0018 0.0018 0.0017 0.0016 -2.8 0.0026 0.0025 0.0024 0.0023 -2.7 0.0035 0.0034 0.0033 0.0032 -2.6 0.0047 0.0045 0.0044 0.0043 -2.5 0.0062 0.0060 0.0059 0.0057 0.0078 0.0075 0.0073 0.0071 0.0069 0.0068 0.0066 0.0064 0.0002…

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