The following is a payoff table giving costs for various situations.State 1State 2 State 3Alternative 1453783Alternative 2165972Alternative 3236591Alternative 4443355What decision would a pessimist make?Cannot be determined.Alternative 1.Alternative 4.O Alternative 2.O Alternative 3.

The pessimist criteria is the Maximin criteria, choosing the maximum of minimum alternatives…

Answered: The following is a payoff table giving…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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5 In preparing for the upcoming holiday season, Fresh Toy Company (FTC) designed new doll called The Dougie that teaches children how to dance. The fixed cost to produce the doll is $100,000. The variable cost, which includes material, labor, and shipping costs, is $34 per doll. During the holiday selling season, FTC will sell the dolls for $42 each. If FTC overproduces the dolls, the excess dolls will be sold in January through a distributor who has agreed to pay FTC $10 per doll. Demand for new toys during the holiday selling season is extremely uncertain. Forecasts are for expected sales of 60,000 dolls with a standard deviation of 15,000. The normal probability distribution is assumed to be a good description of the demand. FTC has tentatively decided to produce 60,000 units (the same as average demand), but it wants to conduct an analysis regarding this production quantity before finalizing the decision. (a) Create a what-if spreadsheet model using a formula that relates the…
2. On Black Friday, you budget B for Christmas shopping. Here at the facts: 1. At the first site, you bought a gift for your mother and spent half of the budget. 2. At the second site, you bought a gift for you father and spent half of the remaining amount in the budget. 3. At the third site, you spend an additional half of the remaining budget for a third present. 4. You are now left with $10 remaining dollars from your original budget. How much did you budget for the purchase of Christmas presents?
1. IfXis $5,000, R-15% and BV is $50,000, what is AE? -5000-(15%*50000) -2500 2. IfXis $25,000, R-18% and BV is $125,000, what is AE? -25000-(18 % 125000) 2500 3. Assume the firm in requirement 2 can increase x to $30,000 by instituting some cost-cutting measures. What is the new AE? -30000-(18 % 125000) 7500 4. Assume the firm in requirement 2 can divest $25,000 of unproductive capital with X falling by only $2,000. What is the new AE? -25000-2000-(18% *(125000-25000)) 5000 5. Assume the firm in requirement 2 can add a new division at a cost of $40,000, which will increase X by $7,600 per year. Would adding the new division increase AE? -25000+7600-(18% *( 125000+40000)) 2900 FALSE Assume the firm in requirement 1 can add a new division at a cost of $25,000, which will increase X by $3,500 per year. Would adding the new division increase AE? 5000+3500-(15%*50000+25000) -2750 FALSE
The statement: “If we lower the price of this product by 5 percent, then our profit will increase by 3 percent” represents what type of statement? a. a wild guess b. a conclusion c. a decision rule d. a hypothesis e. an educated guess
Nick has plans to open some pizza restaurants, but he is not sure how many to open. He has prepared a payoff table (values are in thousands of dollars) to help analyze the situation. State of Nature Fair Market Poor Market Decihion AlternativeGood Market Open 1 Open 2 bo Nothing 198 26 162 378 87 -280 P(Good market) 0.35; P(Fair market) = 0.45; P(Poor market) = 0.2. What is the opportunity loss (or regret) of Open 1 alternative and Good market? $162,000 O $180,000 None of the answers provided is correct $0
Consider the following bargaining problem: Two siblings Naa and Nii have to have Gh20 million they inherited from their parents between them. Naa gets to make an initial offer. Nii then gets to respond by either accepting Naa's initial offer or offering a counter offer. Finally, Naa can respond by either accepting Nii's offer or making a final offer. If Nii does not accept Naa's final offer both Nii and Naa get nothing. Nii discounts the future at 10% (i.e., future earnings are with 10% less than current earnings) while Naa discounts the future at 20%. Calculate the Nash equilibrium of this bargaining problem.
#s 11-15 refer to the problem below Use the stock below to answer the given questions. 52- 52-WEEK WEEK STOCK OPEN HIGH LOW CLOSE VOLUME HIGH LOW DEL MONTE PACIFIC LTD 21.72 11.96 12.8 12.8 12.54 12.8 106,200 (DMPL) a 11. What is the highest price for the past 52 weeks for a share? to b) 12.54 iw guel a) 12.8 c) 21.72 d) 11.96 12. What is the lowest price for the past 52 weeks for a share? d) 11.96 eboog 13. How many shares of the company's stock were sold yesterday? d) 12.8 a) 300200eud to b) 12.54 eimeng 12.8 c) 21.72 a) o106,200 b) 11.96 c) 21.72 14. What is the highest price for a share of stock yesterday? se a) 12.8 bni b) 12.54 d) 11.96ond loode 0CC)21.72 000 15. Give the price at which a share fared when the stock exchange close yesterday? d) 11.96o obe boobivib 1edV a) 12.8 g b) 12.54 ls c) 21.72
3. Modified Exercise 2.36 A restaurant offers three ways of paying the bill: cash, credit card, and mobile payment (e.g., Apple Pay, Google Wallet). At the end of the day there were 200 paid bills. Some of the bills were paid with a mix of cash, credit card, and mobile payment. There were 36 bills paid with cash, 82 bills paid with credit card, and 113 bills paid by mobile payment. There were 8 bills that used cash and credit card, 13 bills that used cash and mobile payment, and 15 bills that used credit card and mobile payment. Five of the bills were paid with all three methods. (a) If two distinct bills are chosen at random, what is the probability that at least one was paid using two or more methods? (b) Suppose that a bill chosen at random and was paid using two or more methods. What is the probability it was paid with all three methods? (c) If a bill is chosen at random, what is the probability that the bill was paid fully using only one of the methods? (d) Suppose that a bill…
14: Answer c questions
For the peing, the air traffic control system in the United States is run by the federal government. Several groups disagree with this and would like to privatizu in deciding if, indeed, delays in the U.S. are "too common" might be to compare the flight delay information from the U.S. and other nations. . air traffic control system. Among the arguments given for privatization is that flight delays are much too common in the United States. A first step You have in front of you the following chart, which summarizes the information from three samples of flights from the past six weeks. One of the samples is composed of domestic U.S. flights, one is composed of domestic Canadian flights, and one is composed of domestic British flights. The information recorded for each flight is the time (in minutes) that the plane was late to the arrival gate. (If the plane was early, the time recorded was negative.) Sample Sample Sample size Groups mean variance United States 239 16.9 96.8 Canada 205…
3

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