A computer chip is designed so that the distance between two adjacent pins has a specification of 2.000 ± 0.002 millimeters (mm). The loss due to a defective chip is $5. A sample of 25 chips was drawn from the production process and the results, in mm, are listed below.

1) Compute the value of k in the Taguchi loss function?

2) What is the expected loss from this process based on the sample data?

See the attached file.
The following is an opportunity-loss table.
Opportunity-loss table.
State of Natures
Alternatives A B C
Alternative 1 20 100 0
Alternative 2 100 0 25
Alternative 3 0 40 90
The probabilities for the states of nature A,

The probabilities for the states of nature A, B, and C are 0.3, 0.5, and 0.2, respectively. If a person were to use the expected opportunity loss criterion, what decision would be made?
Opportunity Loss Table
STATE OF NATURE
ALTERNATIVES A B C
Alternative 1 20 10

Pure Petro, Ltd. is buying hurricane insurance for its off-coast oil drilling platform. During the next five years, the probability of total loss of only the above-water superstructure ($250 million) is 0.30, the probability of total loss of the facility ($950 million) is 0.30, and the probability of no loss is 0.40. Find the

Please help answer the following problem.
An insurance company sells an automobile policy with a deductible of one unit. Let X be the amount of the loss having p.m.f.
.9 x=0
f(x) = {
(C/x) x=1,2,3,4,5,6 (where C is a constant)
Determine C and the expected value the insurance compan

Provide a graph of the solution of company with a cost function of C(Q)=50+Q^2 and a demandfunction of P=100-2Q, showing profits and deadweight loss in the graph. Also, provide the actual amount of deadweight loss.

Suppose that the lossfunction is l(theta, theta_hat) = |theta - theta_hat|. Show that the Bayes estimate of theta is any median of the posterior distribution (any number m(x) such that P(theta <= m(x)|x)>=.5 and P(theta>=m(x)|x)>=.5).

The following is an opportunity-loss table. The probabilities for the states of nature A, B, and C are 0.3, 0.5, and 0.2, respectively. If a person were to use the expected opportunity loss criterion, what decision would be made?
A. Alternative 1
B. Alternative 2
C. Alternative 3
D. State of Nature C
E. State