Mathematical Applications for the Management, Life, and Social Sciences
12th Edition
ISBN: 9781337625340
Author: Ronald J. Harshbarger, James J. Reynolds
Publisher: Cengage Learning
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Textbook Question
Chapter 12.4, Problem 21E
Suppose that the marginal propensity to consume is
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T={(−7,1),(1,−1),(6,−8),(2,8)}
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T={(−7,1),(1,−1),(6,−8),(2,8)}.
Find the inverse. Express your answer as a set of ordered pairs.
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.
Chapter 12 Solutions
Mathematical Applications for the Management, Life, and Social Sciences
Ch. 12.1 - 1. True or false:
(a)
(b)
Ch. 12.1 - Prob. 2CPCh. 12.1 - 1. If what is
Ch. 12.1 - Prob. 2ECh. 12.1 - Prob. 3ECh. 12.1 - Prob. 4ECh. 12.1 - Prob. 5ECh. 12.1 - Evaluate the integrals in Problems 5-28. Check...Ch. 12.1 - Prob. 7ECh. 12.1 - Evaluate the integrals in Problems 5-28. Check...
Ch. 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 - Prob. 16ECh. 12.1 - Prob. 17ECh. 12.1 - Prob. 18ECh. 12.1 - Prob. 19ECh. 12.1 - Evaluate the integrals in Problems 5-28. Check...Ch. 12.1 - Prob. 21ECh. 12.1 - Prob. 22ECh. 12.1 - Prob. 23ECh. 12.1 - Evaluate the integrals in Problems 5-28. Check...Ch. 12.1 - Prob. 25ECh. 12.1 - Prob. 26ECh. 12.1 - Evaluate the integrals in Problems 5-28. Check...Ch. 12.1 - Prob. 28ECh. 12.1 - In Problems 29-32, use algebra to rewrite the...Ch. 12.1 - In Problems 29-32, use algebra to rewrite the...Ch. 12.1 - Prob. 31ECh. 12.1 - In Problems 29-32, use algebra to rewrite the...Ch. 12.1 - Prob. 33ECh. 12.1 - Prob. 34ECh. 12.1 - Prob. 35ECh. 12.1 - Prob. 36ECh. 12.1 - In each of Problems 37-40, a family of functions...Ch. 12.1 - Prob. 38ECh. 12.1 - In each of Problems 37-40, a family of functions...Ch. 12.1 - Prob. 40ECh. 12.1 - Prob. 41ECh. 12.1 - Prob. 42ECh. 12.1 - 43. Revenue If the marginal revenue (in dollars...Ch. 12.1 - Prob. 44ECh. 12.1 - 45. Stimulus-response Suppose that when a sense...Ch. 12.1 - Prob. 46ECh. 12.1 - 47. Pollution A factory is damping pollutants into...Ch. 12.1 - 48. Population growth The rate of growth of the...Ch. 12.1 - 49. Average cost The DeWitt Company has found that...Ch. 12.1 - 50. Oil leakage An oil tanker hits a reef and...Ch. 12.1 - Prob. 51ECh. 12.1 - Prob. 52ECh. 12.1 - Prob. 53ECh. 12.1 - 54. Severe weather ice makers Hail is produced in...Ch. 12.1 - 55. U.S. population With U.S. Census Bureau data...Ch. 12.1 - 56. Consumer prices The consumer price index (CPI)...Ch. 12.2 - 1. Which of the following can be evaluated with...Ch. 12.2 - Prob. 2CPCh. 12.2 - 3. True or false: Constants can be factored...Ch. 12.2 - Prob. 4CPCh. 12.2 - Prob. 1ECh. 12.2 - Prob. 2ECh. 12.2 - Prob. 3ECh. 12.2 - Prob. 4ECh. 12.2 - In each of Problems 5 and 6, one of parts (a) and...Ch. 12.2 - In each of Problems 5 and 6, one of parts (a) and...Ch. 12.2 - Prob. 7ECh. 12.2 - Prob. 8ECh. 12.2 - Prob. 9ECh. 12.2 - Prob. 10ECh. 12.2 - Prob. 11ECh. 12.2 - Prob. 12ECh. 12.2 - Evaluate the integrals in Problems 7-36. Check...Ch. 12.2 - Prob. 14ECh. 12.2 - Prob. 15ECh. 12.2 - Prob. 16ECh. 12.2 - Prob. 17ECh. 12.2 - Prob. 18ECh. 12.2 - Evaluate the integrals in Problems 7-36. Check...Ch. 12.2 - Prob. 20ECh. 12.2 - Evaluate the integrals in Problems 7-36. Check...Ch. 12.2 - Prob. 22ECh. 12.2 - Prob. 23ECh. 12.2 - Prob. 24ECh. 12.2 - Prob. 25ECh. 12.2 - Prob. 26ECh. 12.2 - Prob. 27ECh. 12.2 - Prob. 28ECh. 12.2 - Evaluate the integrals in Problems 7-36. Check...Ch. 12.2 - Evaluate the integrals in Problems 7-36. Check...Ch. 12.2 - Evaluate the integrals in Problems 7-36. Check...Ch. 12.2 - Prob. 32ECh. 12.2 - Prob. 33ECh. 12.2 - Prob. 34ECh. 12.2 - Prob. 35ECh. 12.2 - Evaluate the integrals in Problems 7-36. Check...Ch. 12.2 - Prob. 37ECh. 12.2 - Prob. 38ECh. 12.2 - Prob. 39ECh. 12.2 - Prob. 40ECh. 12.2 - Prob. 41ECh. 12.2 - Prob. 42ECh. 12.2 - Prob. 43ECh. 12.2 - Prob. 44ECh. 12.2 - Prob. 45ECh. 12.2 - Prob. 46ECh. 12.2 - 47. Revenue Suppose that the marginal revenue for...Ch. 12.2 - Prob. 48ECh. 12.2 - 49. Physical productivity The total physical...Ch. 12.2 - 50. Production The rate of production of a new...Ch. 12.2 - 51. Data entry speed The rate of change in data...Ch. 12.2 - Prob. 52ECh. 12.2 - 53. Film attendance An excellent film with a very...Ch. 12.2 - 54. Product quality and advertising An inferior...Ch. 12.2 - 55. Demographics Because of job outsourcing, a...Ch. 12.2 - 56. Franchise growth A new fast-food firm predicts...Ch. 12.3 - 1. True or false:
(a) (b)
(c) (d)
Ch. 12.3 - Prob. 2CPCh. 12.3 - Prob. 3CPCh. 12.3 - Prob. 1ECh. 12.3 - Prob. 2ECh. 12.3 - Evaluate the integrals in Problems 1-32.
3.
Ch. 12.3 - Prob. 4ECh. 12.3 - Evaluate the integrals in Problems 1-32.
Ch. 12.3 - Prob. 6ECh. 12.3 - Prob. 7ECh. 12.3 - Evaluate the integrals in Problems 1-32.
Ch. 12.3 - Evaluate the integrals in Problems 1-32.
9.
Ch. 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 - Prob. 17ECh. 12.3 - Prob. 18ECh. 12.3 - Prob. 19ECh. 12.3 - Prob. 20ECh. 12.3 - Evaluate the integrals in Problems 1-32.
21.
Ch. 12.3 - Prob. 22ECh. 12.3 - Prob. 23ECh. 12.3 - Prob. 24ECh. 12.3 - Prob. 25ECh. 12.3 - Prob. 26ECh. 12.3 - Prob. 27ECh. 12.3 - Prob. 28ECh. 12.3 - Evaluate the integrals in Problems 1-32.
29.
Ch. 12.3 - Prob. 30ECh. 12.3 - Prob. 31ECh. 12.3 - Prob. 32ECh. 12.3 - Prob. 33ECh. 12.3 - Prob. 34ECh. 12.3 - Prob. 35ECh. 12.3 - Prob. 36ECh. 12.3 - Prob. 37ECh. 12.3 - Prob. 38ECh. 12.3 - In Problems 37-40, a family of functions is given...Ch. 12.3 - Prob. 40ECh. 12.3 - Prob. 41ECh. 12.3 - Prob. 42ECh. 12.3 - 43. Revenue Suppose that the marginal revenue from...Ch. 12.3 - Prob. 44ECh. 12.3 - Prob. 45ECh. 12.3 - 46. Radioactive decay Radioactive substances decay...Ch. 12.3 - 47. Memorization The rate of vocabulary...Ch. 12.3 - Prob. 48ECh. 12.3 - 49. Compound interest If $P is invested for n...Ch. 12.3 - 50. Temperature changes When an object is moved...Ch. 12.3 - Prob. 56ECh. 12.4 - 1. True or false:
(a) If , then the constant of...Ch. 12.4 - Prob. 2CPCh. 12.4 - Prob. 3CPCh. 12.4 - Prob. 4CPCh. 12.4 - Prob. 1ECh. 12.4 - Prob. 2ECh. 12.4 - Prob. 3ECh. 12.4 - Prob. 4ECh. 12.4 - Prob. 5ECh. 12.4 - Prob. 6ECh. 12.4 - In Problems 1-12, cost, revenue, and profit are in...Ch. 12.4 - In Problems 1-12, cost, revenue, and profit are in...Ch. 12.4 - Prob. 9ECh. 12.4 - Prob. 10ECh. 12.4 - In Problems 1-12, cost, revenue, and profit are in...Ch. 12.4 - In Problems 1-12, cost, revenue, and profit are in...Ch. 12.4 - 14. Suppose that the marginal cost for a certain...Ch. 12.4 - 14. Suppose that the marginal cost for a certain...Ch. 12.4 - 15. If national consumption is $7 billion when...Ch. 12.4 - Prob. 16ECh. 12.4 - Prob. 17ECh. 12.4 - Prob. 18ECh. 12.4 - Prob. 19ECh. 12.4 - Prob. 20ECh. 12.4 - 21. Suppose that the marginal propensity to...Ch. 12.4 - Prob. 22ECh. 12.4 - Prob. 23ECh. 12.4 - Prob. 24ECh. 12.4 - Prob. 25ECh. 12.4 - Prob. 26ECh. 12.4 - Prob. 27ECh. 12.4 - Prob. 28ECh. 12.4 - Prob. 29ECh. 12.5 - Prob. 1CPCh. 12.5 - Prob. 2CPCh. 12.5 - Prob. 3CPCh. 12.5 - Prob. 1ECh. 12.5 - Prob. 2ECh. 12.5 - Prob. 3ECh. 12.5 - Prob. 4ECh. 12.5 - Prob. 5ECh. 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 - Prob. 13ECh. 12.5 - Prob. 14ECh. 12.5 - Prob. 15ECh. 12.5 - Prob. 16ECh. 12.5 - Prob. 17ECh. 12.5 - Prob. 18ECh. 12.5 - Prob. 19ECh. 12.5 - Prob. 20ECh. 12.5 - Prob. 21ECh. 12.5 - Prob. 22ECh. 12.5 - Prob. 23ECh. 12.5 - Prob. 24ECh. 12.5 - Prob. 25ECh. 12.5 - Prob. 26ECh. 12.5 - Prob. 27ECh. 12.5 - Prob. 28ECh. 12.5 - Prob. 29ECh. 12.5 - Prob. 30ECh. 12.5 - In Problems 29-36, find the particular solution to...Ch. 12.5 - Prob. 32ECh. 12.5 - Prob. 33ECh. 12.5 - Prob. 34ECh. 12.5 - Prob. 35ECh. 12.5 - Prob. 36ECh. 12.5 - Prob. 37ECh. 12.5 - Prob. 38ECh. 12.5 - Prob. 39ECh. 12.5 - Prob. 40ECh. 12.5 - 41. Investing When the interest on an investment...Ch. 12.5 - Prob. 42ECh. 12.5 - 43. Bacterial growth Suppose that the growth of a...Ch. 12.5 - Prob. 44ECh. 12.5 - 46. Sales and pricing Suppose that a chain of auto...Ch. 12.5 - Prob. 46ECh. 12.5 - Prob. 47ECh. 12.5 - 48. Radioactive decay A certain radioactive...Ch. 12.5 - Prob. 49ECh. 12.5 - Prob. 50ECh. 12.5 - 51. Drug in an organ Suppose that a liquid carries...Ch. 12.5 - Prob. 52ECh. 12.5 - Prob. 53ECh. 12.5 - Prob. 54ECh. 12.5 - Prob. 55ECh. 12.5 - Prob. 56ECh. 12.5 - Prob. 57ECh. 12.5 - Prob. 58ECh. 12 - Evaluate the integrals in Problems 1-26.
Ch. 12 - Prob. 2RECh. 12 - Prob. 3RECh. 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 - Prob. 15RECh. 12 - Prob. 16RECh. 12 - Prob. 17RECh. 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 - Evaluate the integrals in Problems 1-26.
26. (a) ...Ch. 12 - Prob. 27RECh. 12 - Prob. 28RECh. 12 - Prob. 29RECh. 12 - Prob. 30RECh. 12 - Prob. 31RECh. 12 - Prob. 32RECh. 12 - Prob. 33RECh. 12 - Prob. 34RECh. 12 - Prob. 35RECh. 12 - Prob. 36RECh. 12 - 37. Oxygen levels in water The rate of change of...Ch. 12 - Prob. 38RECh. 12 - Prob. 39RECh. 12 - Prob. 40RECh. 12 - 41. Cost The marginal cost for a product is
...Ch. 12 - Prob. 42RECh. 12 - Prob. 43RECh. 12 - Prob. 44RECh. 12 - Prob. 45RECh. 12 - Prob. 46RECh. 12 - 47. Fossil dating Radioactive beryllium is...Ch. 12 - Prob. 48RECh. 12 - Prob. 49RECh. 12 - Prob. 1TCh. 12 - Evaluate the integrals in Problems 1-11.
Ch. 12 - Prob. 3TCh. 12 - Prob. 4TCh. 12 - Prob. 5TCh. 12 - Prob. 6TCh. 12 - Prob. 7TCh. 12 - Prob. 8TCh. 12 - Prob. 9TCh. 12 - Prob. 10TCh. 12 - Prob. 11TCh. 12 - Prob. 12TCh. 12 - Prob. 13TCh. 12 - Prob. 14TCh. 12 - Prob. 15TCh. 12 - Prob. 16TCh. 12 - Prob. 17TCh. 12 - Prob. 18TCh. 12 - Prob. 19TCh. 12 - Prob. 20TCh. 12 - Prob. 21TCh. 12 - Prob. 22T
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