Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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Chapter 9.6, Problem 26P
Summary Introduction
To perform: A sensitivity analysis on the risk tolerance.
Introduction: Simulation model is the digital prototype of the physical model that helps to
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A salesperson uses three different airlines. The probabilities of switching from one airline to another in consecutive flights are shown below.
If the last flight was on Delta, what is the probability that the next was on American?
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Delta
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American
0.5
0.25
0.25
Delta
0.2
0.6
0.2
Southwest
0.3
0.3
0.4
A
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A GMAC MBA new-matriculants survey provided the following data for 2018 students.
Excel File: data04-53.xlsx
Applied to More
Than One School
Yes
No
23 and under
207
201
24-26
299
379
Age
Group
27-30
185
268
31-35
66
193
36 and over
51
169
a. Given that a person applied to more than one school, what is the probability that the person is 24 - 26 years old (to 2 decimals)?
b. Given that a person is in the 36 and over age group, what is the probability that the person applied to more than one school (to 4 decimals)?
c. What is the probability that a person is 24 - 26 years old or applied to more than one school (to 4 decimals)?
d. Suppose a person is known to have applied to only one school. What is the probability that the person is 31 or more years old (to 4 decimals)?
e. Is the number of schools applied to independent of age? Explain.
Select your answer -
Markov process models can be used to describe the probability that a consumer purchasing brand A in one time period
1.will sell brand A in the next period
2. all of the answers are correct.
3.will sell brand A after three time periods
4. will not purchase brand A in the next period
Chapter 9 Solutions
Practical Management Science
Ch. 9.2 - Prob. 1PCh. 9.2 - Prob. 2PCh. 9.2 - Prob. 3PCh. 9.3 - Prob. 4PCh. 9.3 - Prob. 5PCh. 9.3 - Prob. 6PCh. 9.3 - Prob. 7PCh. 9.4 - Explain in some detail how the PrecisionTree...Ch. 9.4 - Prob. 9PCh. 9.4 - Prob. 10P
Ch. 9.5 - Prob. 11PCh. 9.5 - Prob. 12PCh. 9.5 - Prob. 13PCh. 9.5 - Prob. 17PCh. 9.5 - Prob. 18PCh. 9.5 - Prob. 19PCh. 9.5 - Prob. 21PCh. 9.5 - The model in Example 9.3 has only two market...Ch. 9.6 - Prob. 26PCh. 9.6 - Prob. 27PCh. 9.6 - Prob. 28PCh. 9 - Prob. 30PCh. 9 - Prob. 31PCh. 9 - Prob. 32PCh. 9 - Prob. 34PCh. 9 - Prob. 36PCh. 9 - Prob. 37PCh. 9 - Prob. 38PCh. 9 - Prob. 39PCh. 9 - Prob. 46PCh. 9 - Prob. 48PCh. 9 - Prob. 53PCh. 9 - Prob. 67PCh. 9 - Prob. 68PCh. 9 - Prob. 69PCh. 9 - Prob. 70PCh. 9 - Prob. 71PCh. 9 - Prob. 72PCh. 9 - Prob. 73PCh. 9 - Prob. 74PCh. 9 - Prob. 75PCh. 9 - Prob. 76PCh. 9 - Prob. 77P
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