Finite Mathematics
7th Edition
ISBN: 9781337280426
Author: Stefan Waner, Steven Costenoble
Publisher: Cengage Learning
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Question
Chapter 6.3, Problem 12E
To determine
To calculate: The total number of outcomes of the decision algorithm where,
Step 1: 2 outcomes.
Step 2:
Alternative 1:
Step 1: 4 outcomes.
Step 2: 1 outcome.
Alternative 2: 2 outcomes.
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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.
Chapter 6 Solutions
Finite Mathematics
Ch. 6.1 - Prob. 1ECh. 6.1 - Prob. 2ECh. 6.1 - Prob. 3ECh. 6.1 - Prob. 4ECh. 6.1 - Prob. 5ECh. 6.1 - Prob. 6ECh. 6.1 - Prob. 7ECh. 6.1 - Prob. 8ECh. 6.1 - Prob. 9ECh. 6.1 - Prob. 10E
Ch. 6.1 - Prob. 11ECh. 6.1 - Prob. 12ECh. 6.1 - Prob. 13ECh. 6.1 - Prob. 14ECh. 6.1 - Prob. 15ECh. 6.1 - Prob. 16ECh. 6.1 - In Exercises 1720, draw a Venn diagram that...Ch. 6.1 - Prob. 18ECh. 6.1 - Prob. 19ECh. 6.1 - Prob. 20ECh. 6.1 - Prob. 21ECh. 6.1 - Prob. 22ECh. 6.1 - Prob. 23ECh. 6.1 - Prob. 24ECh. 6.1 - Prob. 25ECh. 6.1 - Prob. 26ECh. 6.1 - Prob. 27ECh. 6.1 - Prob. 28ECh. 6.1 - Prob. 29ECh. 6.1 - Prob. 30ECh. 6.1 - Prob. 31ECh. 6.1 - Prob. 32ECh. 6.1 - Prob. 33ECh. 6.1 - Prob. 34ECh. 6.1 - In Exercises 3542, A={small,medium,large},...Ch. 6.1 - Prob. 36ECh. 6.1 - Prob. 37ECh. 6.1 - Prob. 38ECh. 6.1 - Prob. 39ECh. 6.1 - In Exercises 3542, A={small,medium,large},...Ch. 6.1 - Prob. 41ECh. 6.1 - In Exercises 3542, A={small,medium,large},...Ch. 6.1 - Prob. 43ECh. 6.1 - Prob. 44ECh. 6.1 - Let A={H, T} be the set of outcomes when a coin is...Ch. 6.1 - Let A={H, T} be the set of outcomes when a coin is...Ch. 6.1 - Prob. 47ECh. 6.1 - Prob. 48ECh. 6.1 - Prob. 49ECh. 6.1 - Prob. 50ECh. 6.1 - Prob. 51ECh. 6.1 - Prob. 52ECh. 6.1 - Prob. 53ECh. 6.1 - Prob. 54ECh. 6.1 - Prob. 55ECh. 6.1 - Prob. 56ECh. 6.1 - Prob. 57ECh. 6.1 - Prob. 58ECh. 6.1 - Prob. 59ECh. 6.1 - Prob. 60ECh. 6.1 - Databases A freelance computer consultant keeps a...Ch. 6.1 - Prob. 62ECh. 6.1 - Prob. 63ECh. 6.1 - Prob. 64ECh. 6.1 - Databases A freelance computer consultant keeps a...Ch. 6.1 - Databases A freelance computer consultant keeps a...Ch. 6.1 - Prob. 67ECh. 6.1 - Databases A freelance computer consultant keeps a...Ch. 6.1 - Prob. 71ECh. 6.1 - You sell two models of music players: the yoVaina...Ch. 6.1 - Prob. 73ECh. 6.1 - Prob. 74ECh. 6.1 - Prob. 75ECh. 6.1 - Prob. 76ECh. 6.1 - Prob. 77ECh. 6.1 - Prob. 78ECh. 6.1 - Prob. 79ECh. 6.1 - Prob. 80ECh. 6.1 - Prob. 81ECh. 6.1 - Prob. 82ECh. 6.1 - When this book was being written, the copy editor...Ch. 6.1 - When an older version of this book was being...Ch. 6.2 - Let A={Drink,Johan,Frans,Sarie},...Ch. 6.2 - Prob. 2ECh. 6.2 - Prob. 3ECh. 6.2 - Prob. 4ECh. 6.2 - Let A={Drink,Johan,Frans,Sarie},...Ch. 6.2 - Prob. 6ECh. 6.2 - Prob. 7ECh. 6.2 - Prob. 8ECh. 6.2 - Let A={H,T},B={1,2,3,4,5,6}, and...Ch. 6.2 - Let A={H,T},B={1,2,3,4,5,6}, and...Ch. 6.2 - Prob. 11ECh. 6.2 - Prob. 12ECh. 6.2 - Prob. 13ECh. 6.2 - Let A={H,T},B={1,2,3,4,5,6}, and...Ch. 6.2 - If n(A)=43,n(B)=20, and n(AB)=3, find n(AB).Ch. 6.2 - If n(A)=60, n(B)=20, and n(AB)=1 find n(AB).Ch. 6.2 - If n(AB)=100andn(A)=n(B)=60, fi0nd n(AB).Ch. 6.2 - Prob. 18ECh. 6.2 - Prob. 19ECh. 6.2 - Prob. 20ECh. 6.2 - Prob. 21ECh. 6.2 - Prob. 22ECh. 6.2 - Prob. 23ECh. 6.2 - Prob. 24ECh. 6.2 - Prob. 25ECh. 6.2 - Prob. 26ECh. 6.2 - Prob. 27ECh. 6.2 - In Exercises 2730, use the given information to...Ch. 6.2 - In Exercises 2730, use the given information to...Ch. 6.2 - Prob. 30ECh. 6.2 - Web Searches In November 2011 a search using the...Ch. 6.2 - Web Searches In November 2011 a search using the...Ch. 6.2 - Amusement On a particularly boring transatlantic...Ch. 6.2 - Restaurant Menus While scanning through the...Ch. 6.2 - Mobile Gamers Of a total of 132 million mobile...Ch. 6.2 - Prob. 36ECh. 6.2 - Prob. 37ECh. 6.2 - Prob. 38ECh. 6.2 - Prob. 39ECh. 6.2 - Prob. 40ECh. 6.2 - Prob. 41ECh. 6.2 - Prob. 42ECh. 6.2 - Prob. 43ECh. 6.2 - Prob. 44ECh. 6.2 - Housing Starts Exercises 4348 are based on the...Ch. 6.2 - Housing Starts Exercises 4348 are based on the...Ch. 6.2 - Housing Starts Exercises 4348 are based on the...Ch. 6.2 - Prob. 48ECh. 6.2 - Prob. 49ECh. 6.2 - Stocks Exercises 4954 are based on the following...Ch. 6.2 - Stocks Exercises 4954 are based on the following...Ch. 6.2 - Stocks Exercises 4954 are based on the following...Ch. 6.2 - Stocks Exercises 4954 are based on the following...Ch. 6.2 - Stocks Exercises 4954 are based on the following...Ch. 6.2 - Medicine In a study of Tibetan children,10 a total...Ch. 6.2 - Prob. 56ECh. 6.2 - Entertainment According to a survey of 100 people...Ch. 6.2 - Athletics Of the 4,700 students at Medium Suburban...Ch. 6.2 - Entertainment In a survey of 100 Enormous State...Ch. 6.2 - Entertainment Refer back to Exercise 59. You are...Ch. 6.2 - Prob. 61ECh. 6.2 - Prob. 62ECh. 6.2 - Why is the Cartesian product referred to as a...Ch. 6.2 - Prob. 64ECh. 6.2 - Prob. 65ECh. 6.2 - Prob. 66ECh. 6.2 - Prob. 67ECh. 6.2 - Prob. 68ECh. 6.2 - Prob. 69ECh. 6.2 - Prob. 70ECh. 6.2 - Prob. 71ECh. 6.2 - Prob. 72ECh. 6.3 - An experiment requires a choice among three...Ch. 6.3 - Prob. 2ECh. 6.3 - An experiment requires a sequence of three steps....Ch. 6.3 - Prob. 4ECh. 6.3 - Prob. 5ECh. 6.3 - Prob. 6ECh. 6.3 - Prob. 7ECh. 6.3 - Prob. 8ECh. 6.3 - Prob. 9ECh. 6.3 - Prob. 10ECh. 6.3 - Prob. 11ECh. 6.3 - Prob. 12ECh. 6.3 - How many different four-letter sequences can be...Ch. 6.3 - How many different five-letter sequences can be...Ch. 6.3 - Ice Cream When Baskin-Robbins was founded in 1945,...Ch. 6.3 - Ice Cream At the beginning of 2002, Baskin-Robbins...Ch. 6.3 - Binary Codes A binary digit, or bit, is either 0...Ch. 6.3 - Ternary Codes A ternary digit is either 0, 1, or...Ch. 6.3 - Ternary Codes A ternary digit is either 0, 1, or...Ch. 6.3 - Binary Codes A binary digit, or bit, is either 0...Ch. 6.3 - Reward While selecting candy for students in his...Ch. 6.3 - Productivity Professor Oger must choose between an...Ch. 6.3 - Prob. 23ECh. 6.3 - Radar Detectors Radar detectors are either powered...Ch. 6.3 - Multiple-Choice Tests Professor Easys final...Ch. 6.3 - Multiple-Choice Tests Professor Toughs final...Ch. 6.3 - Tests A test requires that you answer either Part...Ch. 6.3 - Tests A test requires that you answer first Part A...Ch. 6.3 - Stock Portfolios Your broker has suggested that...Ch. 6.3 - Menus The local diner offers a meal combination...Ch. 6.3 - Prob. 31ECh. 6.3 - Computer Codes Some written languages, such as...Ch. 6.3 - Prob. 33ECh. 6.3 - Prob. 34ECh. 6.3 - Variables in Visual Basic A variable name in the...Ch. 6.3 - Prob. 36ECh. 6.3 - Tournaments How many ways are there of filling in...Ch. 6.3 - Tournaments How many ways are there of filling in...Ch. 6.3 - Telephone Numbers Suppose a telephone number...Ch. 6.3 - Social Security Numbers A Social Security Number...Ch. 6.3 - Credit Card Numbers The vast majority of Visa and...Ch. 6.3 - Credit Card Numbers Credit cards issued by...Ch. 6.3 - Prob. 43ECh. 6.3 - Prob. 44ECh. 6.3 - HTML Colors in HTML (the language in which many...Ch. 6.3 - Telephone Numbers In the past, a local telephone...Ch. 6.3 - Prob. 47ECh. 6.3 - Prob. 48ECh. 6.3 - Prob. 49ECh. 6.3 - License Plates17 License plates in Montana have a...Ch. 6.3 - Prob. 51ECh. 6.3 - Prob. 52ECh. 6.3 - Prob. 53ECh. 6.3 - Car Engines Repeat Exercise 53 for an...Ch. 6.3 - Minimalist Art You are exhibiting your collection...Ch. 6.3 - Prob. 56ECh. 6.3 - Product Design Your company has patented an...Ch. 6.3 - Product Design Your company has patented an...Ch. 6.3 - Calendars The World Almanac19 features a perpetual...Ch. 6.3 - Calendars How many possible calendars are there...Ch. 6.3 - Prob. 61ECh. 6.3 - Programming in Java Script (Some programming...Ch. 6.3 - Prob. 63ECh. 6.3 - Prob. 64ECh. 6.3 - Morse Code In Morse code, each letter of the...Ch. 6.3 - Numbers How many odd numbers between 10 and 99...Ch. 6.3 - Prob. 67ECh. 6.3 - Prob. 68ECh. 6.3 - Prob. 69ECh. 6.3 - Prob. 70ECh. 6.3 - Prob. 71ECh. 6.3 - Find an interesting application that requires a...Ch. 6.4 - In Exercises 116, evaluate the number. [HINT: See...Ch. 6.4 - Prob. 2ECh. 6.4 - Prob. 3ECh. 6.4 - In Exercises 116, evaluate the number. [HINT: See...Ch. 6.4 - Prob. 5ECh. 6.4 - Prob. 6ECh. 6.4 - Prob. 7ECh. 6.4 - In Exercises 116, evaluate the number. [HINT: See...Ch. 6.4 - Prob. 9ECh. 6.4 - In Exercises 116, evaluate the number. [HINT: See...Ch. 6.4 - Prob. 11ECh. 6.4 - In Exercises 116, evaluate the number. [HINT: See...Ch. 6.4 - Prob. 13ECh. 6.4 - Prob. 14ECh. 6.4 - In Exercises 116, evaluate the number. [HINT: See...Ch. 6.4 - Prob. 16ECh. 6.4 - How many ordered lists are there of four items...Ch. 6.4 - How many ordered sequences are possible that...Ch. 6.4 - Prob. 19ECh. 6.4 - How many unordered sets are there of four items...Ch. 6.4 - Prob. 21ECh. 6.4 - How many six-letter sequences are possible that...Ch. 6.4 - Prob. 23ECh. 6.4 - How many three-letter sequences are possible that...Ch. 6.4 - How many three-letter (unordered) sets are...Ch. 6.4 - How many three-letter (unordered) sets are...Ch. 6.4 - Prob. 27ECh. 6.4 - How many six-letter sequences are possible that...Ch. 6.4 - Marbles For Exercises 2942, a bag contains three...Ch. 6.4 - Marbles For Exercises 2942, a bag contains three...Ch. 6.4 - Prob. 31ECh. 6.4 - Marbles For Exercises 2942, a bag contains three...Ch. 6.4 - Prob. 33ECh. 6.4 - Marbles For Exercises 2942, a bag contains three...Ch. 6.4 - Marbles For Exercises 2942, a bag contains three...Ch. 6.4 - Prob. 36ECh. 6.4 - Marbles For Exercises 2942, a bag contains three...Ch. 6.4 - Prob. 38ECh. 6.4 - Marbles For Exercises 2942, a bag contains three...Ch. 6.4 - Marbles For Exercises 2942, a bag contains three...Ch. 6.4 - Marbles For Exercises 2942, a bag contains three...Ch. 6.4 - Marbles For Exercises 2942, a bag contains three...Ch. 6.4 - Dice If a die is rolled 30 times, there are 630...Ch. 6.4 - Dice If a die is rolled 30 times, there are 630...Ch. 6.4 - Dice If a die is rolled 30 times, there are 630...Ch. 6.4 - Prob. 46ECh. 6.4 - Prob. 47ECh. 6.4 - In Exercises 4752, calculate how many different...Ch. 6.4 - In Exercises 4752, calculate how many different...Ch. 6.4 - In Exercises 4752, calculate how many different...Ch. 6.4 - In Exercises 4752, calculate how many different...Ch. 6.4 - Prob. 52ECh. 6.4 - Itineraries Your international diplomacy trip...Ch. 6.4 - Itineraries Refer back to Exercise 53. How many...Ch. 6.4 - Poker Hands A poker hand consists of 5 cards from...Ch. 6.4 - Prob. 56ECh. 6.4 - Poker Hands A poker hand consists of 5 cards from...Ch. 6.4 - Prob. 58ECh. 6.4 - Poker Hands A poker hand consists of 5 cards from...Ch. 6.4 - Poker Hands A poker hand consists of 5 cards from...Ch. 6.4 - Dogs of the Dow The Dogs of the Dow are the stocks...Ch. 6.4 - Dogs of the Dow The Dogs of the Dow are the stocks...Ch. 6.4 - Prob. 63ECh. 6.4 - Day Trading Day traders typically buy and sell...Ch. 6.4 - Elimination Tournaments In an elimination...Ch. 6.4 - Elimination Tournaments In an elimination...Ch. 6.4 - Prob. 67ECh. 6.4 - Prob. 68ECh. 6.4 - Prob. 69ECh. 6.4 - Prob. 70ECh. 6.4 - Traveling Salesperson Suppose you are a...Ch. 6.4 - Prob. 72ECh. 6.4 - Prob. 73ECh. 6.4 - Prob. 74ECh. 6.4 - Prob. 75ECh. 6.4 - Prob. 76ECh. 6.4 - Prob. 77ECh. 6.4 - Prob. 78ECh. 6.4 - Prob. 79ECh. 6.4 - Prob. 80ECh. 6.4 - Prob. 81ECh. 6.4 - Prob. 82ECh. 6.4 - Prob. 83ECh. 6.4 - Which of the following represent combinations? (A)...Ch. 6.4 - Prob. 85ECh. 6.4 - Prob. 86ECh. 6.4 - Prob. 87ECh. 6.4 - Prob. 88ECh. 6.4 - Prob. 89ECh. 6.4 - Prob. 90ECh. 6 - Prob. 1RECh. 6 - Prob. 2RECh. 6 - Prob. 3RECh. 6 - Prob. 4RECh. 6 - Prob. 5RECh. 6 - Prob. 6RECh. 6 - Prob. 7RECh. 6 - Prob. 8RECh. 6 - Prob. 9RECh. 6 - Prob. 10RECh. 6 - Prob. 11RECh. 6 - Prob. 12RECh. 6 - Prob. 13RECh. 6 - Prob. 14RECh. 6 - Prob. 15RECh. 6 - Prob. 16RECh. 6 - Prob. 17RECh. 6 - Prob. 18RECh. 6 - Prob. 19RECh. 6 - In Exercises 1924, consider a bag containing four...Ch. 6 - Prob. 21RECh. 6 - In Exercises 1924, consider a bag containing four...Ch. 6 - In Exercises 1924, consider a bag containing four...Ch. 6 - Prob. 24RECh. 6 - Prob. 25RECh. 6 - Prob. 26RECh. 6 - Prob. 27RECh. 6 - Inventories OHaganBooks.com currently operates...Ch. 6 - Inventories OHaganBooks.com currently operates...Ch. 6 - Inventories OHaganBooks.com currently operates...Ch. 6 - Prob. 31RECh. 6 - Prob. 32RECh. 6 - Prob. 33RECh. 6 - Prob. 34RECh. 6 - Prob. 35RECh. 6 - Customers OHaganBooks.com has two main...Ch. 6 - Online IDs As the customer base at OHaganBooks.com...Ch. 6 - Prob. 38RECh. 6 - Online IDs As the customer base at OHaganBooks.com...Ch. 6 - Prob. 40RECh. 6 - Prob. 41RECh. 6 - Prob. 42RECh. 6 - Prob. 43RE
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