MATH IN OUR WORLD (LOOSELEAF)-W/ACCESS
3rd Edition
ISBN: 9781259969690
Author: sobecki
Publisher: MCG
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Chapter 12.3, Problem 4TTO
To determine
The candidate who win the award using approval voting method.
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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
The graph below shows the U.S. federal expenses for 2012.
A) estimate the fraction of the total expenses that were spent on Medicare. Write your answer as the
closest fraction whose denominator is 100.
B) estimate the fraction of the total expenses that were spent on Medicare and Medicaid. Write your
answer as the closest fraction, whose denominator is 100.
Chapter 12 Solutions
MATH IN OUR WORLD (LOOSELEAF)-W/ACCESS
Ch. 12.1 - The Student Activities Committee at Camden College...Ch. 12.1 - An election was held for the chairperson of the...Ch. 12.1 - Prob. 3TTOCh. 12.1 - Prob. 4TTOCh. 12.1 - Prob. 1ECh. 12.1 - Prob. 2ECh. 12.1 - Prob. 3ECh. 12.1 - Explain the head-to head comparison criterion.Ch. 12.1 - 5. What is a fairness criterion for an election?
Ch. 12.1 - Prob. 6E
Ch. 12.1 - Prob. 7ECh. 12.1 - Prob. 8ECh. 12.1 - Prob. 9ECh. 12.1 - Prob. 10ECh. 12.1 - Prob. 11ECh. 12.1 - Prob. 12ECh. 12.1 - Prob. 13ECh. 12.1 - Prob. 14ECh. 12.1 - Prob. 15ECh. 12.1 - For Exercises 15–18, rewrite the preference table...Ch. 12.1 - Prob. 17ECh. 12.1 - Prob. 18ECh. 12.1 - Using the election results given in Exercise 9,...Ch. 12.1 - 20. Using the election results given in Exercise...Ch. 12.1 - Prob. 21ECh. 12.1 - Prob. 22ECh. 12.1 - Using the Internet as a resource, look up the...Ch. 12.1 - Suppose that an election has seven candidates, and...Ch. 12.1 - Prob. 25ECh. 12.1 - Prob. 26ECh. 12.1 - Prob. 27ECh. 12.1 - Prob. 28ECh. 12.1 - Prob. 29ECh. 12.1 - Prob. 30ECh. 12.1 - Prob. 31ECh. 12.1 - Prob. 32ECh. 12.2 - Prob. 1TTOCh. 12.2 - Prob. 2TTOCh. 12.2 - Prob. 3TTOCh. 12.2 - If the one voter who listed softball last in the...Ch. 12.2 - Prob. 1ECh. 12.2 - Prob. 2ECh. 12.2 - Prob. 3ECh. 12.2 - Prob. 4ECh. 12.2 - Prob. 5ECh. 12.2 - Can a candidate that gets the least first-place...Ch. 12.2 - A gaming club holds a vote to decide what type of...Ch. 12.2 - The McKees Point Yacht Club Board of Directors...Ch. 12.2 - Prob. 9ECh. 12.2 - A local police union is holding an election for a...Ch. 12.2 - Students at a college were asked to rank three...Ch. 12.2 - Prob. 12ECh. 12.2 - Prob. 13ECh. 12.2 - Prob. 14ECh. 12.2 - Prob. 15ECh. 12.2 - Prob. 16ECh. 12.2 - Prob. 17ECh. 12.2 - Does the election in Exercise 12 violate the...Ch. 12.2 - An English department is voting for a new...Ch. 12.2 - The Association of Self-Employed Working Persons...Ch. 12.2 - Prob. 21ECh. 12.2 - Prob. 22ECh. 12.2 - Suppose that all 4 voters from the last column of...Ch. 12.2 - Suppose that 2 of the 4 voters from the second...Ch. 12.2 - If 2 of the voters from column 1 in Exercise 21...Ch. 12.2 - If the 3 voters in column 4 in Exercise 22 change...Ch. 12.2 - Construct a preference table for an election...Ch. 12.2 - Construct a preference table for an election...Ch. 12.2 - Construct a preference table for an election so...Ch. 12.2 - If the candidates on a preference ballot are...Ch. 12.2 - If the candidates on a preference ballot are...Ch. 12.2 - In an election with four candidates, how many...Ch. 12.2 - Based on your answers to Exercise 32, explain why...Ch. 12.2 - One way to avoid the issue described in Exercises...Ch. 12.2 - Lets talk about a modified Borda count method....Ch. 12.3 - Prob. 1TTOCh. 12.3 - Prob. 2TTOCh. 12.3 - Does the election in Try This One 2 violate the...Ch. 12.3 - Prob. 4TTOCh. 12.3 - Explain how to determine the winner of an election...Ch. 12.3 - Prob. 2ECh. 12.3 - Describe Arrows impossibility theorem. How is it...Ch. 12.3 - Prob. 4ECh. 12.3 - Prob. 5ECh. 12.3 - Which of the five voting methods we studied do you...Ch. 12.3 - If all of the voters in an approval voting...Ch. 12.3 - Fill in the table below, which summarizes our five...Ch. 12.3 - Prob. 9ECh. 12.3 - Prob. 10ECh. 12.3 - Prob. 11ECh. 12.3 - Prob. 12ECh. 12.3 - Prob. 13ECh. 12.3 - Prob. 14ECh. 12.3 - Prob. 15ECh. 12.3 - Prob. 16ECh. 12.3 - The McKees Point Yacht Club Board of Directors...Ch. 12.3 - The students in Dr. Lees math class are asked to...Ch. 12.3 - If Professor Donovan was unable to serve as...Ch. 12.3 - If the travel company from Exercise 14 loses its...Ch. 12.3 - If the West Oak Golf Club is unavailable and the...Ch. 12.3 - If a room for Dr. Lees final exam was not...Ch. 12.3 - A sports committee of students needs to choose a...Ch. 12.3 - Prob. 24ECh. 12.3 - Prob. 25ECh. 12.3 - Prob. 26ECh. 12.3 - Prob. 27ECh. 12.3 - Prob. 28ECh. 12.3 - Prob. 29ECh. 12.3 - Construct a preference table so that one candidate...Ch. 12.3 - Prob. 31ECh. 12.3 - Prob. 32ECh. 12.3 - Prob. 33ECh. 12.3 - Evaluate each voting method we studied if there...Ch. 12.3 - Suppose that in an election for city council,...Ch. 12.3 - Prob. 36ECh. 12.3 - Devise a method for breaking ties when using...Ch. 12.3 - Prob. 38ECh. 12.4 - Prob. 1TTOCh. 12.4 - Prob. 2TTOCh. 12.4 - Prob. 3TTOCh. 12.4 - Prob. 4TTOCh. 12.4 - Prob. 5TTOCh. 12.4 - Assign the 30 seats from Try This One 5 using...Ch. 12.4 - Prob. 7TTOCh. 12.4 - Prob. 8TTOCh. 12.4 - Prob. 1ECh. 12.4 - Prob. 2ECh. 12.4 - Prob. 3ECh. 12.4 - Describe how to find the upper and lower quotas...Ch. 12.4 - Prob. 5ECh. 12.4 - Prob. 6ECh. 12.4 - Prob. 7ECh. 12.4 - Prob. 8ECh. 12.4 - Prob. 9ECh. 12.4 - Prob. 10ECh. 12.4 - In Exercises 912, find the standard divisor for...Ch. 12.4 - Prob. 12ECh. 12.4 - Prob. 13ECh. 12.4 - Prob. 14ECh. 12.4 - Prob. 15ECh. 12.4 - Prob. 16ECh. 12.4 - Prob. 17ECh. 12.4 - Prob. 18ECh. 12.4 - Prob. 19ECh. 12.4 - Prob. 20ECh. 12.4 - Prob. 21ECh. 12.4 - Prob. 22ECh. 12.4 - Prob. 23ECh. 12.4 - Prob. 24ECh. 12.4 - Prob. 25ECh. 12.4 - For Exercises 2628 find: (a)The standard divisor....Ch. 12.4 - Prob. 27ECh. 12.4 - Prob. 28ECh. 12.4 - Prob. 29ECh. 12.4 - Prob. 30ECh. 12.4 - Prob. 31ECh. 12.4 - Prob. 32ECh. 12.4 - Prob. 33ECh. 12.4 - Prob. 34ECh. 12.4 - Prob. 35ECh. 12.4 - Prob. 36ECh. 12.4 - Prob. 37ECh. 12.4 - Prob. 38ECh. 12.4 - Prob. 39ECh. 12.4 - Prob. 40ECh. 12.4 - Prob. 41ECh. 12.4 - Prob. 42ECh. 12.4 - Prob. 43ECh. 12.5 - Prob. 1TTOCh. 12.5 - Try This One 2
A county with three districts has...Ch. 12.5 - Prob. 3TTOCh. 12.5 - Prob. 1ECh. 12.5 - Prob. 2ECh. 12.5 - Prob. 3ECh. 12.5 - Prob. 4ECh. 12.5 - What is the quota rule? Which apportionment...Ch. 12.5 - Prob. 6ECh. 12.5 - Prob. 7ECh. 12.5 - Prob. 8ECh. 12.5 - Prob. 9ECh. 12.5 - Prob. 10ECh. 12.5 - Prob. 11ECh. 12.5 - Prob. 12ECh. 12.5 - The table shows the enrollment at two campuses of...Ch. 12.5 - Prob. 14ECh. 12.5 - Prob. 15ECh. 12.5 - Prob. 16ECh. 12.5 - Write an essay explaining why many people feel...Ch. 12.5 - 18. Which do you think is more serious: violating...Ch. 12 - Use this information for Exercises 14: the...Ch. 12 - Use this information for Exercises 14: the...Ch. 12 - Use this information for Exercises 14: the...Ch. 12 - Prob. 4RECh. 12 - Prob. 5RECh. 12 - Prob. 6RECh. 12 - Prob. 7RECh. 12 - Prob. 8RECh. 12 - Prob. 9RECh. 12 - Prob. 10RECh. 12 - Prob. 11RECh. 12 - Prob. 12RECh. 12 - Prob. 13RECh. 12 - Prob. 14RECh. 12 - Use this information for Exercises 917: a large...Ch. 12 - Prob. 16RECh. 12 - Use this information for Exercises 917: a large...Ch. 12 - Prob. 18RECh. 12 - Prob. 19RECh. 12 - Prob. 20RECh. 12 - Prob. 21RECh. 12 - Prob. 22RECh. 12 - Prob. 23RECh. 12 - Prob. 24RECh. 12 - Prob. 25RECh. 12 - Prob. 26RECh. 12 - Prob. 27RECh. 12 - Prob. 28RECh. 12 - Prob. 29RECh. 12 - A community college bought 15 laptop computers to...Ch. 12 - Prob. 31RECh. 12 - Prob. 32RECh. 12 - Prob. 33RECh. 12 - Prob. 34RECh. 12 - Prob. 35RECh. 12 - Repeat exercise 30 using the Huntington-Hill...Ch. 12 - Prob. 37RECh. 12 - Prob. 38RECh. 12 - Prob. 39RECh. 12 - Prob. 40RECh. 12 - Prob. 41RECh. 12 - Prob. 42RECh. 12 - Prob. 43RECh. 12 - Prob. 1CTCh. 12 - Prob. 2CTCh. 12 - Prob. 3CTCh. 12 - Prob. 4CTCh. 12 - Prob. 5CTCh. 12 - Prob. 6CTCh. 12 - Prob. 7CTCh. 12 - Prob. 8CTCh. 12 - Use this information for Exercises 512: a small...Ch. 12 - Prob. 10CTCh. 12 - Prob. 11CTCh. 12 - Prob. 12CTCh. 12 - Prob. 13CTCh. 12 - An airline offers nonstop flights from Fort...Ch. 12 - Prob. 15CTCh. 12 - Repeat Problem 14 using Websters method.Ch. 12 - Repeat Problem 14 using the Huntington-Hill...Ch. 12 - Prob. 18CTCh. 12 - Prob. 19CTCh. 12 - Prob. 20CTCh. 12 - Prob. 21CT
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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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