Bargain Research ConsortiumThe Bargain Research Consortium (BRC), one of Marble's competitors, is offering you a similarmarket study for just $15,000. They will predict a "Hit" with probability 4, in which case theprobabilities of selling 600,000, 300,000 and 200,000 units are .45, 40, and .15 respectively. If theypredict a "Flop," the probabilities of selling 600,000, 300,000, and 200,000 units will be 20%, 40%and 40%.g) Would you hire BRC?h) What is the most you would pay BRC's forecast?

g) We have to determine hire BRC or not. h) We have to determine what is the most you would pay…

Answered: Bargain Research Consortium The Bargain…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Similar questions

part ii
Q15
Organizers of an outdoor summer concert in Toronto are concerned about the weather conditions on the day of the concert. They will make a profit of $33,000 on a clear day and $15,000 on a cloudy day. They will make a loss of $7,000 if it rains. The weather channel has predicted a 52% chance of rain on the day of the concert. Calculate the expected profit from the concert if the likelihood is 11% that it will be sunny and 37% that it will be cloudy.
You are waiting tables on the side, in order to make rent. You pick up one shift (one day, determined at random) per week. Business is very predictable - on Mondays, 10 tables are occupied with patrons, on Tuesdays, 20 tables, Wednesdays 30 tables, 40 tables on Thursdays and 50 on Fridays. You can assume that you make $10 in tips per table. Your annual rent is $14,400. What is the probability that you are able to make rent from this job, this year? (assuming you work all 52 weeks without a vacation or break)?
You purchase a brand new car for $15,000 and insure it. The policy pays 78% of the car's value if there is an issue with the engine or 30% of the car's value if there is an issue with the speaker system. The probability of an issue with the engine is 0.009, and the probability there is an issue with the speaker system is 0.02. The premium for the policy is p. Let X be the insurance company's net gain from this policy. (a) Create a probability distribution for X, using p to represent the premium on the policy. Enter the possible values of X in ascending order from left to right. P(X) (b) Compute the minimum amount the insurance company will charge for this policy. Round your answer to the nearest cent
Bob, the proprietor of Midway Lumber, bases his projections for the annual revenues of the company on the performance of the housing market. He rates the performance of the market as very strong, strong, normal, weak, or very weak. For the next year, Bob estimates that the probabilities for these outcomes are 0.15, 0.25, 0.39, 0.09, and 0.12, respectively. He also thinks that the revenues corresponding to these outcomes are $23, $18.6, $16.9, $14, and $6 million, respectively. What is Bob's expected revenue for next year?
You have inherited a lottery ticket that may be a $5,000 winner. You have a 35% chance of winning the $5,000 and a 65% chance of winning $0. You have an opportunity to sell the lottery ticket for $1,500. What is your expected return and what should you do if are risk neutral?
PLSS ANSWER ASAP!!
Vivian is deciding whether or not to prepare a tender for a job. The cost of producing the tender will be $1600, which will apply even if her company does not win the tender. Vivian has done some quick calculations and currently thinks that there is a 0.57 probability that the cost is $7000, and otherwise the cost is $10400. These costs do not include the cost of producing the tender. She also believes that the probability that the lowest bid submitted by any competing company will be $8800 is 0.35, that the probability that the lowest bid submitted by any competing company will be $16400 is 0.32, and otherwise that the lowest bid submitted by any competing company will be $12400 Vivian is considering whether she should bid $10800, bid $14400, or not bid. You may assume independence between the probabilities that Vivian assigns to her estimated costs of the project and the probabilities of her assumed lowest bids of competing companies. Thus if She submits a price of $14400 then the…
Suppose it costs $29 to roll a pair of dice. You get paid 4 dollars times the sum of the numbers that appear on the dice. What is the expected payoff of the game? Is it a fair game? The expected payoff of the game is $? is it a fair game?
Diane has decided to play the following game of chance. She places a $1 bet on each repeated play of the game in which the probability of her winning $1 is .4. She has further decided to continue playing the game until she has either accumulated a total of $3 or has lost all her money. What is the probability that Diane will eventually leave the game a winner if she started with a capital of $1? Of $2? capital of $1 capital of $2
Kentavious has grown out of his favorite manga (a Japanese comic book) Berserk and would like to sell his entire collection that he purchased for a total of $725. He feels that he can sell the collection for $700 with a probability of 0.18, or he can sell the collection for $675 with a probability of 0.37, or he can sell it for $600 with a probability of 0.45. How much is Kentavious expected to lose when selling his collection? Enter in your exact answer (no rounding) in the space below. Make sure to enter in a positive number.

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