Mathematics for Elementary Teachers with Activities, Loose-Leaf Version Plus MyLab Math -- Access Card Package (5th Edition)
5th Edition
ISBN: 9780134800196
Author: Sybilla Beckmann
Publisher: PEARSON
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Chapter 11.1, Problem 7P
Pick two ideas or concepts from your reading of this section that you found interesting or important for your future teaching. Write a paragraph about each one, describing what you would want to highlight or emphasize if you were teaching students these ideas or concepts.
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Starting with the finished version of Example 6.2, attached, change the decision criterion to "maximize expected utility," using an exponential utility function with risk tolerance $5,000,000. Display certainty equivalents on the tree.
a. Keep doubling the risk tolerance until the company's best strategy is the same as with the EMV criterion—continue with development and then market if successful.
The risk tolerance must reach $ 160,000,000 before the risk averse company acts the same as the EMV-maximizing company.
b. With a risk tolerance of $320,000,000, the company views the optimal strategy as equivalent to receiving a sure $____________ , even though the EMV from the original strategy (with no risk tolerance) is $ 59,200.
Complete solutions need handwriting. For all only sure experts solve it correct complete solutions
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A) estimate the fraction of the total expenses that were spent on Medicare. Write your answer as the
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Chapter 11 Solutions
Mathematics for Elementary Teachers with Activities, Loose-Leaf Version Plus MyLab Math -- Access Card Package (5th Edition)
Ch. 11.1 - For each of the following metric units, give...Ch. 11.1 - For each of the following items, state which U.S....Ch. 11.1 - What does it mean to say that a shape has an area...Ch. 11.1 - Discuss why it is easy to give an incorrect...Ch. 11.1 - Discuss: Why is it not completely correct to...Ch. 11.1 - Describe how it could happen that three different...Ch. 11.1 - Pick two ideas or concepts from your reading of...Ch. 11.1 - Visit a store and write down at least 10 different...Ch. 11.2 - Describe one-dimensional, two-dimensional, and...Ch. 11.2 - Describe one-dimensional, two-dimensional, and...
Ch. 11.2 - Drawing on your reading from this section,...Ch. 11.2 - Describe one-dlmenslonal, two-dlmenslonal, and...Ch. 11.2 - The Lazy Daze Pool Club and the Slumber-N-Sunshine...Ch. 11.2 - Suppose there are 2 rectangular pools: One is 30...Ch. 11.2 - Minh says that the rectangle on the left in Flgure...Ch. 11.3 - One source says that the average distance from the...Ch. 11.3 - If an object is described as weighing 6.20 grams,...Ch. 11.3 - Tyra ls calculating the distance from town A to...Ch. 11.3 - John has a paper square that he believes is 100 cm...Ch. 11.3 - Sally has a Plexiglas cube that she believes is...Ch. 11.4 - A recipe calls tor 4 ounces ot chocolate. If you...Ch. 11.4 - A class needs 27 pieces of ribbon, each piece 2...Ch. 11.4 - To convert 24 yards to feet, should you multiply...Ch. 11.4 - To convert 2000 kilometers to meters, should you...Ch. 11.4 - Shauntay used identical plastic bears to measure...Ch. 11.4 - A car is 16 feet, 3 inches long. How long is it in...Ch. 11.4 - The distance between two cities is described as...Ch. 11.4 - In Germany, people often drive 130 kilometers per...Ch. 11.4 - One foot is 12 inches. Does this mean that 1...Ch. 11.4 - A room has a floor area of 48 square yards. What...Ch. 11.4 - One kilometer is 1000 meters. Does this mean that...Ch. 11.4 - One foot is 12 inches. Does this mean that 1 cubic...Ch. 11.4 - How much mulch will you need to cover a...Ch. 11.4 - A classroom has a floor area of 600 square feet....Ch. 11.4 - A house has a floor area of 800 square meters....Ch. 11.4 - A house has a floor area of 250 square meters....Ch. 11.4 - The Smiths will be carpeting a room in their...Ch. 11.4 - One acre is 43,560 square feet. If a square piece...Ch. 11.4 - A construction company has dump trucks that hold...Ch. 11.4 - The following questlon explores why It doesn’t...Ch. 11.4 - A penny is 116 of an inch thick. Suppose you have...Ch. 11.4 - Write 100 zeros on a piece of paper and time how...Ch. 11.4 - For a certain type of rice, about 50 grains till a...Ch. 11.4 - Assuming that 1 gram of gold is worth $30 how much...Ch. 11.4 - Imagine that all the people on earth could stand...Ch. 11.4 - Joey has a toy car that is a 1: 64 scale model of...
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- Starting with the finished version of Example 6.2, attached, change the decision criterion to "maximize expected utility," using an exponential utility function with risk tolerance $5,000,000. Display certainty equivalents on the tree. a. Keep doubling the risk tolerance until the company's best strategy is the same as with the EMV criterion—continue with development and then market if successful. The risk tolerance must reach $ ____________ before the risk averse company acts the same as the EMV-maximizing company. b. With a risk tolerance of $320,000,000, the company views the optimal strategy as equivalent to receiving a sure $____________ , even though the EMV from the original strategy (with no risk tolerance) is $ ___________ .arrow_forward2.8.1arrow_forwardDo not use the Residue Theorem. Thank you.arrow_forward
- A television network earns an average of $14 million each season from a hit program and loses an average of $8 million each season on a program that turns out to be a flop. Of all programs picked up by this network in recent years, 25% turn out to be hits and 75% turn out to be flops. At a cost of C dollars, a market research firm will analyze a pilot episode of a prospective program and issue a report predicting whether the given program will end up being a hit. If the program is actually going to be a hit, there is a 75% chance that the market researchers will predict the program to be a hit. If the program is actually going to be a flop, there is only a 30% chance that the market researchers will predict the program to be a hit. What is the maximum value of C that the network should be willing to pay the market research firm? Enter your answer in dollars, not in million dollars. $ __________ Calculate EVPI for this decision problem. Enter your answer in dollars, not in million…arrow_forwardEvaluate the line integral sin z dz, So sin where C is the portion of the curve y = x² from 0 to −1 + i.arrow_forwardLet f(z) be complex differentiable everywhere in C. Fix two distinct complex numbers a and b and a circle C of radius R with |a| < R,|b| < R traversed in the counter-clockwise direction. Evaluate the integral Sc − f(z)dz (z - a)(z – b) in terms of a, b and the values of f at those points.arrow_forward
- | Let C be a circle (with a positive radius) such that z = 1 lies in its interior. Evaluate the contour integral So Tz zez (z - 1)³ = where C is traversed in the clockwise direction. dzarrow_forwardquestion 8arrow_forwardTwo construction companies are bidding against one another for the right to construct a new community center building. The first construction company, Fine Line Homes, believes that its competitor, Buffalo Valley Construction, will place a bid for this project according to the distribution shown in this table: Buffalo Valley's Bid Bid Probability $160,000 0.2 $165,000 0.5 $170,000 0.2 $175,000 0.1 Furthermore, Fine Line Homes estimates that it will cost $160,000 for its own company to construct this building. Given its fine reputation and long-standing service within the local community, Fine Line Homes believes that it will likely be awarded the project in the event that it and Buffalo Valley Construction submit exactly the same bids. Find the bid that maximizes Fine Line’s expected profit. Max expected profit $ ________ . Bid that maximizes profit $ ________ .arrow_forward
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