) Calculate the three point moving averages (quarters) and seasonal variation for the above data b) A detective figures he has a one in nine chance of recovering stolen property. His out-of-pocket expenses for the investigation are $9,000. He is only paid his fee if he recovers the stolen property, what should he charge clients in order to breakeven? c) At races, your horse, has a probability of 1/20 of coming 1st, 1/10 of coming 2nd and a probability of 1⁄4 in coming 3rd. First place pays $4,500 to the winner, second place $3,500 and third place $1,500. Hence, is it worth entering the race if it costs $799?
a) Calculate the three point moving averages (quarters) and seasonal variation for the above data
b) A detective figures he has a one in nine chance of recovering stolen property. His out-of-pocket expenses for the investigation are $9,000. He is only paid his fee if he recovers the stolen property, what should he charge clients in order to breakeven?
c) At races, your horse, has a probability of 1/20 of coming 1st, 1/10 of coming 2nd and a probability of 1⁄4 in coming 3rd. First place pays $4,500 to the winner, second place $3,500 and third place $1,500.
Hence, is it worth entering the race if it costs $799?
d) Your company plans to invest in a particular project. There is a 35% chance you will lose $30,000, a 40% chance you will break even, and a 25% chance you will make $65,000. Based solely on this information, what should you
do?
e) A manufacturer is considering the production of a new and better mousetrap. She estimates the probability that the new mousetrap is successful is 3⁄4. If it is successful, it would generate profits of $120,000. The development costs of the mousetrap are $88,000. Should the manufacturer proceed with plans for the new mousetrap? Why or why not?
![Consider the following from an estate agent business:
Month
Houses Sold
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
3800
3600
3900
4000
3900
3800
3940
4540
4600
4600
4300
3700](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4fcf0ea8-452a-41f4-bb70-bfd38b93850b%2F292adc54-4f24-41da-a692-e82d8f0d16c0%2F6pkyufc_processed.jpeg&w=3840&q=75)
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