Bronco Truck Parts expects to sell the following number of units at the prices indicated under three different scenarios in the economy.The probability of each outcome is indicated.Dutcome Probability UnitsA0.10370190.506400.401,070Price$ 233237What is the expected value of the total sales projection?Total expected value

Here given that A B C And 0.1, 0.5 0.4…

Answered: Bronco Truck Parts expects to sell the…

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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Classic Probability Kevin was a product tester at Texas Instruments. He was dropping calculators from a height of 5 feet on to a concrete surface. He found that out of 30 trials 6 of them were broken. Based on these initial trials what is the probability that the next calculator he drops will not break? OA. O A. : Theoretical Probability O B. Empirical Probability O C. Subjective Probability D. ; Dependent Probability
The following table represents the highest educational attainment of all adult residents in a certain town. If an adult is chosen randomly from the town, what is the probability that they have a high school degree or some college, but have no college degree? Round your answer to the nearest thousandth. High school only Some college Bachelor's degree Master's degree Total Age 20-29 Age 30-39 Age 40-49 Age 50 & over 1346 278 1866 2069 1640 1143 6198 1060 1471 1676 433 4640 1531 640 456 2905 2504 1966 887 7223 Total 4550 7575 5922 2919 20966
The management of Brinkley Corporation is interested in using simulation to estimate the profit per unit for a new product. The selling price for the product will be $45 per unit. Probability distributions for the purchase cost, the labor cost, and the transportation cost are estimated as follows: Procurement Cost ($) Probability Labor Cost ($) Probability Transportation Cost ($) Probability 10 0.25 20 0.10 3 0.75 11 0.45 22 0.25 5 0.25 12 0.30 24 0.35 25 0.30 Compute profit per unit for the base-case, worst-case, and best-case scenarios. Construct a simulation model to estimate the mean profit per unit. Why is the simulation approach to risk analysis preferable to generating a variety of what-if scenarios? Management believes the project may not be sustainable if the profit per unit is less than $5. Use simulation to estimate the probability the profit per unit will be less than $5.
Amount of claim (to nearest $20,000) Probability $0 0.70 $20,000 0.17 $40,000 0.06 $60,000 0.04 $80,000 0.02 $100,000 0.01 A. Calculate the expected value? B. How much should the company charge as an average premium so that it breaks even on its claim costs? C. How much should the company charge to make a profit of $50 per policy?
You are given the following probability distribution for the returns on Security A and Security B: Probability 0.3 0.3 0.3 0.1 Return on Security A 37% 7% 20% -15% Return on Security B 13% 19% 26% -22% Assume you invest $4,000 in Security A and $6,000 in Security B. What are the expected return and standard deviation of your portfolio?
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Determine whether the following statement makes sense or does not make sense, and explain your reasoning. Here's my dilemma, I can accept a $1500bill or play a game ten times. For each roll of the single die, I win $200 for rolling 1 or 2; I win $100 for rolling 3; and I lose $100 for rolling 4, 5, or 6. Based on the expected value, I should accept the $1500 bill. Choose the correct answer below, and fill in the answer box to complete your choice. (Round to the nearest cent as needed) The statement does not make sense because the expected value after ten rolls is nothing dollars, which is greater than the value of the current bill.
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