By how many days should each activity be crashed to reduce the project completion time by 4 days? Fill in the table below. (Enter your responses as whole numbers.)
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- Betty Bad and Gary Good have the following expected claims distributions: Betty Bad Gary Good Loss Probability of Loss .10 .20 .30 $ 0 .40 $10,000 .05 $5,000 .10 $1,000 15 0 .70 $10,000 $5,000 $1,000 $ What are the expected claims costs for Betty Bad and Gary Good respectively? What is the expected average claims cost per policy for a pool in which 50% of the participants have claims distributions identical the Betty Bad and 50% have claims distributions identical to Gary Good. i) If insurers cannot distinguish the Goods from the Bads, what is the potential problem with charging everyone a premium equal to the expected average claims costs?1. What is the most the real estate investor would be willing to pay for additional information? Use Minimum Expected Regret (Minimum EOL) 2. Use the alternative method to verify EVPIGodo Q- Joe owns a business with two separate departments. Department A produces $100,000 of income and Department B incurs a $60,000 loss. Joe participates for 550 hours in Department A and 100 hours in Department B. He has full-time employees in both departments. and why? a. If Joe elects to treat both departments as a single activity, he cannot offset the $60,000 loss against the $100,000 income. b. Joe may not treat Department A and Department B as separate activities because they are parts of one business. c. If Joe elects to treat the two departments as separate activities, he can offset the $60,000 loss against the $100,000 income. d. If Joe elects to treat both departments as a single activity, he can offset the $60,000 loss against the $100,000 income. e. None of the above.
- Sarah Chang is the owner of a small electronics company. In six months, a proposal is due for an electronic timing system for the next Olympic Games. For several years, Chang’s company has been developing a new microprocessor, a critical component in a timing system that would be superior to any product currently on the market. However, progress in research and development has been slow, and Chang is unsure whether her staff can produce the microprocessor in time. If they succeed in developing the microprocessor (probability p1), there is an excellent chance (probability p2) that Chang’s company will win the $1 million Olympic contract. If they do not, there is a small chance (probability p3) that she will still be able to win the same contract with an alternative but inferior timing system that has already been developed. If she continues the project, Chang must invest $200,000 in research and development. In addition, making a proposal (which she will decide whether to do after…Sarah Chang is the owner of a small electronics company. In six months, a proposal is due for an electronic timing system for the next Olympic Games. For several years, Chang’s company has been developing a new microprocessor, a critical component in a timing system that would be superior to any product currently on the market. However, progress in research and development has been slow, and Chang is unsure whether her staff can produce the microprocessor in time. If they succeed in developing the microprocessor (probability p1), there is an excellent chance (probability p2) that Chang’s company will win the $1 million Olympic contract. If they do not, there is a small chance (probability p3) that she will still be able to win the same contract with an alternative but inferior timing system that has already been developed. If she continues the project, Chang must invest $200,000 in research and development. In addition, making a proposal (which she will decide whether to do after…1. A clothing store is opening a second location and wants to decide whether to open in San Francisco or New York. Opening a location in either city will involve different capital expenditures and demonstrate different rates of success. Below are the relevant data: DECISION PROBABILITY OF PROBABILITY OF SUCCESS FAILURE San Francisco 40% 60% New York 30% 70% PAYOFF (SUCCESS) 15,000,000 30,000,000 PAYOFF (FAILURE) 4,000,000 10,000,000 DECISION San Francisco New York The costs associated with opening each location are as follows: in San Francisco, the store will need to invest $2 million, while a New York location will require an investment of $5 million. The expected payoff amounts represent the potential revenue if the store succeeds, or the potential loss if the store fails. REQUIRED: a. Draw the decision tree for the above problem; b. Compute for the Expected Value for each decision; c. Compute for the net gain / loss of each decision
- What is the average number of tennis balls does Skousen maintain?Please provide the probability as Probability has not been provided for question b and c. As you know the Probabilty should allways be between 0 and 1 thank you!1.16 Given an auditing project with the following activities, please refer to the first pic find:(a) The probability of completing the critical path in 12 weeks (or less), as the client desires. (b) The probability of completing the critical path in 13 weeks (or less). c) The probability of completing the critical path in 16 weeks (or less), the client’s drop-dead date.(d) The number of weeks required to assure a 92.5 percent chance of completing the critical path, as guaranteed by the auditing firm.
- Scenario: Imagine you are a physician who has been whose patient has the following matter up to you. The patient has an unusual infection, which lasts for a short time. The infection has a 15% chance of causing permanent brain damage. You may undertake a procedure that will prevent the brain damage from the infection (with 100% probability). However, the procedure itself has a 20% chance of causing brain damage itself. Should you undertake the procedure or not? Question: Identify whether the scenario poses a problem to solve or a decision to be made. Explain HOW and WHY you came to your answer?Calculate: a. Expected value of perfect information b. Minimax regret valueweek 5In this discussion thread, we will safety and security in hotels.As most of you been doing so far, be sure to post elaborately and include research where appropriate. Remember that solid and elaborate posts will get you closer to full credit in the threaded discussions.Given the need for heighten security, how can hotels ensure their guests that they are safe in their hotels? Do you see any section of a hotel that is vulnerable to unsafe activity?diss 2Class,In this discussion thread, we will talk about TQM. Be sure to read about TQM in our textbook so you understand what it is all about. Then, we will develop a discussion.As most of you been doing so far, be sure to post elaborately and include research where appropriate. Remember that solid and elaborate posts will get you closer to full credit in the threaded discussions.As a hotel general manager how can you promote TQM within your hotel staff? Do you believe that TQM is a valuable management option to use in the hotel…