2 Viral Outbreak Viral fragments have been detected in a local waste-water sample. Thevirus may turn out to be either highly infectious, moderately infectious or not infectious. Thegovernment must decide whether or not to place the local area into a two week lockdown.Without a lockdown the cost to the local economy is $800M (M=million) for a highly infectiousvirus, $150M for a moderately infectious virus, or $20M for a not infectious virus. Implementinga two week lockdown has a cost of $200M to the local economy in addition to $80M if the virus ishighly infectious, $10M if the virus is moderately infections, or $1M if the virus is not contagious.You are appointed as an adviser to the government on this decision.(a) Construct the payoff table for this decision.(b) Calculate the EMVS for the two decisions (“No Lockdown", "Lockdown") if the probabil-ities of highly, moderately and not infectious are 0.2, 0.45 and 0.35 respectively.(c) What would be a sensible objective in this scenario and, based on your calculations, whatdo you advise the government to do?

There are 3 possible outcomes of the virus being exposed: Highly infectious Moderately infectious…

Answered: V iral Outbreak V iral fragments have…

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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If a company has excess capacity, it is contemplating whether a special order should be accepted. The order will not impact regular sales. If the company accepts the special order, what will occur? O Both fixed and variable costs will increase. Net income will increase if the special sales price per unit exceeds the unit variable costs. There are no incremental revenues. Incremental costs will not be affected.
1. Production ErrorsEstablished in 2002, t-shirts.com has rapidly become the place to find, order, and save onT-shirts. One huge selling factor is that the company manufactures its own T-shirts. How-ever, the quality manager for the production plant, Kasey Harnish, has noticed an unacceptable number of defective T-shirts being produced. You have been hired to assist Kasey in understanding where the problems are concentrated. He suggests using a PivotTable to perform an analysis and has provided you with a data file, T3_TshirtProduction_Data.xls. The following is a brief definition of the information within the data file: A. Batch: A unique number that identifi es each batch or group of products produced.B. Product: A unique number that identifi es each product.C. Machine: A unique number that identifi es each machine on which products areproduced.D. Employee: A unique number that identifi es each employee producing products.E. Batch Size: The number of products produced in a given…
An assembly line consists of 26 tasks grouped into 7 workstations. The sum of the 26 task times is 153 minutes. The largest assigned cycle time is 24 minutes. The efficiency of this line is O A. 85.00%. O B. 91.07% O C. 52.46% O D. 3.43% O E. 6.38%
Sandhill Company completes and transfers out 13,720 units and has 1,960 units of ending work in process that are 25% complete as to conversion costs. Materials are entered at the beginning of the process, and there is no beginning work in process. Assuming unit. materials costs of $3 and unit conversion costs of $5 , what are the costs to be assigned to units (a) completed and transferred out and (b) in ending workingrocess?
Compute the NPV statistic for Project Y if the appropriate cost of capital is 12 percent. (Negative amount should be indicated by a minus sign. Do not round intermediate calculations and round your final answer to 2 decimal places.) Project Y Time: 1 2 3 4 Cash flow: -$8,000 $3,350 $4,180 $1,520 $300
A student is planning for the cost of their education. After accounting for scholarships, he plans to have student loans totaling P=$70,000. He looks at his loan repayment options to decide which will require him to pay back the least amount. Loan A: 10-year loan, with an annual interest rate of 8.5%. Loan B: 15-year loan, with an annual interest rate of 6.4%. Loan C: 30-year loan, with an annual interest rate of 5.3%. Each loan is paid back monthly. On which loan will he pay the least interest?
An aerosolized vaccine for measles was developed in Mexico and has been used on 44 million children since 1980. Aerosolized vaccines have the advantages of being able to be administered by people without clinical training and do not cause injection‐associated infections. The percentage of children developing an immune response to measles after receiving the subcutaneous injection of the vaccine is 95%,95%, and for those receiving the aerosolized vaccine, it is 85%85% . There are 2020 children to be vaccinated for measles using the aerosolized vaccine in a small rural village in India. We are going to count the number who developed an immune response to measles after the vaccination. (b) What is the probability that at least one child does not develop an immune response to measles after receiving the aerosolized vaccine? (Enter your answer as a proportion rounded to four decimal places.)
The body needs vitamin D in order to use calcium. An experiment is designed to study the effects of calcium and vitamin D supplements on the bones of first-year college students. The outcome measure is the total body bone mineral content (TBBMC), a measure of bone health. Two doses of calcium will be used: 0 and 300 milligrams per day (mg/day). The doses of vitamin D will be 0 and 150 international units (IU) per day. The calcium and vitamin D will be given in a single tablet. All tablets, including those with no calcium and no vitamin D, will look identical. Subjects for the study will be 30 men and 30 women. There are how many factors? and how many treatments in this design?.
ABC enters into a contract to help DEF, a ramen restaurantto design a market strategy to compete with DEF. The contract spans twelve month. DEF will pay P80,000 at the beginning of each month. At the end of the contract, ABC either will give DEF a refund of P25,000 or will be entitled to an additional P15,000 bonus, depending on whether sales at DEF at year- end increased to a target level. At the inception of the contract , ABC estimates a 30% chance that it will not earn the bonus and calculates the contract price based on the expected value of future payments to be received. At the start of the fifth month, circumstances change and ABC revise the probability that it will earn the bonus to 80% What is the adjustment to the service revenue ?

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