Using the following table, practice the Expected Monetary Value (EMV), Expected Opportunity Loss (EOL), and Expected Value of Perfect Information (EVPI).  Use the .30 for the probability of a Strong Market, .50 for the probability of a Fair Market, and .20 for the probability of a Poor Market.   Show your selections (highlight your best alternative). You must show your work.   PROFIT ($)   STRONG MARKET FAIR MARKET POOR MARKET Large facility 550,000 110,000 -310,000 Medium-sized facility 300,00 129,000 -100,000 Small facility 200,000 100,000 -32,000 No facility 0 0 0

Q: 4. Answer the following questions about probabilities. a. Can the number 0.12 be the probability of…

A: a. Can the number 0.12 be the probability of an event? Explain.Yes, the number 0.12 can be the…

Q: You buy one $10 raffle ticket for a new car valued at $15,000. Two thousand tickets are sold. What…

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Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

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Q: Typed please and asap

A: To determine the probability of having sales of at least $70,000, we need to get the sum of the…

Q: Alex competes in two track events for his athletics team, 400m and hurdles. The tree diagram shows…

A: We have given a tree diagram of Alex completing two track events for his athletics team 400m and…

Q: 1. Grab Bags A convenience store has made up 20 grab bag gifts and is offering them for $2.00 a bag.…

A: Given, there are 20 bags of which 10 bags contain merchandise worth $1.00, 6 bags contain…

Q: Critical Thinking (a) Explain why -0.41 cannot be the probability of some event. (b) Explain why…

A: It is needed to check whether the given values are probability or not.

Q: 11.Grab Bags A convenience store has made up 20 grab bag gifts and is offering them for $2.00 a bag.…

A: There are 20 bags in all, 10 bags contain merchandise worth $1.00, 6 bags contain merchandise worth…

Q: A scientist conducts an experiment with mice. Mice entered a room and had to choose between going…

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Q: community youth group is having a raffle to raise funds. Several community businesses have donated…

A: Given information- In this details of Prize, Retail value and No. of prizes to be given away. Ticket…

Q: Outdoor Regatta Aproducer plans an out-door regatta for May 3. The cost of the regatta is $8000.…

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Q: A politician running that only 15% of Calif her competitor is doing. Xavier wants to test if this is…

A: 'lk/j[k

Q: You select a card from the standard deck of cards. What is the probability that you will select a 5…

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Q: n investment counselor calls with a hot stock tip. He believes that if the economy rema esult in a…

A: Profit ReasonProfit AmountProbabilityEconomy will remain strong$60,00020% or 0.2Economy grows at a…

Q: The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $3.…

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Q: Is a 50/50 raffle a fair game? During a fundraiser a group sold 100 tickets for $20 each. From the…

A: Yes, it is a 50/50 raffle a fair game. During the fundraiser a group sold 100 tickets for $20 each.…

Q: You are selling your product at a three-day event. Each day, there is a 60% chance that you will…

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Q: Finally expected loss

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Q: Decide whether the following statement makes sense (or is clearly true) or does not make sense (or…

A: In this context, a negative expected value implies that, averaged over many tickets, you should…

Q: Using the data given below, determine whether it would unusual for a household to have no HD…

A: from the given table  the probability of having no HD televisions is 0.03

Q: A company estimates that 0.9% of their products will fail after the original warranty period but…

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Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: Given information- We have given that the student council is hosting a drawing to raise money for…

Q: There would be an expected (Type an integer or a decimal.) of dollars.

A: Amount invested in bonds =$13000  Given the probabilit distribution of the gain or loose To…

Q: Maurice wakes up late on average 3 days out of every 5. If Maurice wakes up late, the probability…

A: Given ,  Maurice wakes up late on average 3 days out of every 5 i.e. P(Late) = P(A) = 3/5 = 0.6 So,…

Q: Grab Bags A convenience store has bag gifts and is offering them for $2.00 a bag. Ten bags contain…

A: Given: Bags with $1 merchandise = 10 Bags with $2 merchandise = 6 Bags with $3 merchandise = 4

Q: Refer to the table to find the missing probability and then find the expected value. Outcome value,…

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Q: Decide whether or not the two events in question are independent or whether it is not possible to…

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Q: . Acceptance Sampling The Medassist Pharmaceutical Company receives large ship ments of aspirin…

A: Binomial distribution: P(X) = nCx px qn-x Number of tablets tested, n = 24 P(defect), p = 0.04 q = 1…

Q: stion 19 Use the following contingency table to calculate the probability of buying a house. Give…

A: We have to find given probability.

Q: Explain the all that apply. Probability can be thought of as: symmetrical outcomes relative…

A: 1). Symmetrical outcomes:Probability can be thought of as symmetrical outcomes: For example, the 2…

Q: Jim likes to day-trade on the Internet. On a good day, he averages a $1400 gain. On a bad day, he…

A: Answer On a good day, he averages a 1400 gainOn a bad day, he averages a 700 loss.he has a good days…

Q: probability that both the stocks in your selection had yields of 3.25% or more?

A: There are total 10 stocks  are in list .Probability = no of Favorable outcomes/ total outcomes Here…