In Exercises 1-6, the payoff matrix and strategies
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Chapter 9 Solutions
Finite Mathematics for the Managerial, Life, and Social Sciences
- Consider two products, A and B, both of which have the same purchase probability.Product A has a population size of 1000 and a 50 percent awareness probability. ProductB has a population size of 10,000 and a 5 percent awareness probability. Which productdo you expect to sell more?a. Product Ab. Product Bc. They are expected to sell the same amount.arrow_forwardSC Español The owner of a chain of mini-markets wants to compare the sales performance of two of her stores, Store 1 and Store 2. Sales can vary considerably depending on the day of the week and the season of the year, so she decides to eliminate such effects by making sure to record each store's sales on the same 8 days, chosen at random. She records the sales (in dollars) for each store on these days, as shown in the table below. Day 1 2 3 4 5 6 7 8 Store 1 878 511 837 835 755 241 713 443 D Store 2 685 412 785 763 480 173 639 287 Difference (Store 1 - Store 2) 193 99 52 72 275 68 74 156 Send data to calculator V Based on these data, can the owner conclude, at the 0.05 level of significance, that the mean daily sales of the two stores differ? Answer this question by performing a hypothesis test regarding μ (which is u with a letter "d" subscript), the population mean daily sales difference between the two stores. Assume that this population of differences (Store 1 minus Store 2) is…arrow_forwardH3.arrow_forward
- depending The owner of a chain of mini-markets wants to compare the sales performance of two of her stores, Store 1 and Store 2. Sales can vary considerably on the day of the week and the season of the year, so she decides to eliminate such effects by making sure to record each store's sales on the same 12 days, chosen at random. She records the sales (in dollars) for each store on these days, as shown in the table below. Day Store 1 Store 2 144Hz Difference (Store 1 - Store 2) Send data to calculator H :O 0 1 TT Explanation 233 116 Check 117 V 2 355 3 ننا 4 394 503 146 275 644 5 485 581 6 (a) State the null hypothesis Ho and the alternative hypothesis H₁. 0 784 505 727 209 119 -141 -96 57 O Search 7 428 N 00 8 853 723 9 205 366 77 130 - 161 10 Based on these data, can the owner conclude, at the 0.05 level of significance, that the mean daily sales of the two stores differ? Answer this question by performing a hypothesis test regarding μ (which is μ with a letter "d" subscript), the…arrow_forwardPlease answer asap. Thank youarrow_forwardOptions: A. The odds of working for men are 0.62 B. the odds of working are 0.62 times as large among men compared to women C. the odds of working are 0.62 times as large women compared to men D. the odd of working for women are 0.62arrow_forward
- edo exercises 17 and 18 in section 8.1 of your textbook, about the small animal who lives in an area with woods and meadows, using the following data:If the animal is in the woods on one observation, then it is twice as likely to be in the woods as the meadows on the next observation. If the animal is in the meadows on one observation, then it is three times as likely to be in the meadows as the woods on the next observation.Assume that state 1 is being in the meadows and that state 2 is being in the woods.(1) Find the transition matrix for this Markov process. (2) If the animal is initially in the woods, what is the probability that it is in the woods on the next three observations? (3) If the animal is initially in the woods, what is the probability that it is in the meadow on the next three observations?arrow_forwardDevarrow_forwardIf you were charged $8.00 to play this game, you, as the player, would on average see a [gain or loss] of [.50, .20, .10, 1.20] per spin.arrow_forward
- Please answer all three question.arrow_forwardGunfighters A, B, and C are to fight a three-cornered pistol duel. All know that A’s chance of hitting the target is 0.3, C’s is 0.5, and B never misses. They are to fire at their choice of target in succession in the order of A, B, and C, cyclically (but a hit man loses his turn and is no longer shot at) until only one man is left unhit. What should A’s strategy be? a. Shoots B first b. shoots the ground c. shoot C first d. Shoot himselfarrow_forwardDrawing EX.2.48: Nine people are going on a skiing trip in 3 cars that hold 2, 4, and 5 passengers, respectively. In how many ways is it possible to transport the 9 people to the ski lodge, using all cars? G)+6) + (,) + (,;,) + (,2,) = 4410. %3D 3.5arrow_forward
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