The new business venture, Best-In-World, has been manufacturing technology devices for over 20 years and is considering adding a new technology device to its musicline. They have an established reputation for building quality devices, but they are rather novice in the music industry. The Chief Innovation and Design Officer, JulieNaugle-Hall, is tasked with hiring a marketing firm to conduct a survey to determine the feasibility and demand for their new music device. The follow decision tableillustrates the potential payoffs for a high demand, moderate demand and low demand for the new music device. The decision will be whether to start production on thisnew device in small scale, large scale or not at all.AlternativesAnswerSmall-scale productionLarge-scale productionNo productionProbabilitiesDecision TableHigh Demand850,0001,700,00000.20State of NatureModerate Demand300,000700,00000.50Low Demand-700,000-1,000,00000.30Step 3 of 3: How much should Julie be willing to pay a marketing firm to conduct the survey for probability information regarding the feasibility and demand for theirnew music device?TablesKeypadKeyboard Shortcuts

The question is about decision theory.Given :

Answered: The new business venture,…

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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The website Data USA stated that in 2016, Texas had the lowest number of adults with a serious mental illness with an average of M=3.26% of the population affected. The state of Texas wants to test if they have a significantly decreased number of mental illness patients compared with the states with the (n=8) highest level of mental illness found. In 2016 the following states had the highest level of adult patients with mental illness: Arkansas= 5.45%, Montana=5.34%, Vermont=5.32%, Oregon=5.19%, Utah=5.2%, Ohio=5.13, Kentucky=5.25% West Virginia=5.18%. The alpha level for the study was set to α=.05 for the criteria. a. State the hypotheses of the study. b. Find the critical t value for this study c. Compute the one-sample t test. (Again calculate sample SD or s - and get SEM before calculating t.) d. Compute the Cohen's d for the data (even if not significant) e. State the results - is the sample significantly higher? Do you reject the null hypothesis? Report the t test results in APA…
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An ethical data analyst would be least likely to Multiple Choice check data for accuracy. cite his/her data sources and their limitations. acknowledge sources of financial support. rely on consultants for all calculations.
Describe about the interpret decision in terms of the original research problem.
The following data represents the prices of gasoline in the United States from 2004 to 2010. YEAR GAS PRICE 2004 $1.88 2005 $2.30 2006 $2.59 2007 $2.80 2008 $3.27 2009 $2.35 2010 $2.79 Construct a line graph as if you were a representative of the oil company. EXPLAIN THE REASONING for your construction. Construct a line graph as if you were representing a consumer advocacy group.…
Over the years the U.S. grocery distribution and sales industry has grown. Today, the total industry sales are in the billions of dollars. Major retailers, such as Walmart and Target, added food to complement their merchandise sales and Amazon recently purchased Whole Foods. For many companies, forecasts of industry sales are necessary information to plan for short- and long-term decisions. Using the total U.S. grocery store annual sales in millions of dollars (https://www.census.gov/retail/index.html#mrts) in the following table, respond to the following items.
Politifact reported that on September 29, 2015, Cecile Richards, then president of Planned Parenthood, was testifying before Congress. Rep. Jason Chaffetz (R, Utah) accused Ms. Richards of misusing the $500 million in annual funding that her organization receives from the federal government. Congressman Chaffetz presented the following chart from Americans for Life. He explained, “In pink, that’s the reduction in the breast exams, and the red is the increase in the abortions. That’s what’s going on in your organization?” Here is the chart: PlannedParenthood.png Does this chart present an honest representation of the data, or is it misleading? Explain your answer. If this chart misleading, are the congressman and the Americans United for Life (the creators of the chart) knaves or fools?
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