The following payoff table shows profits associated with a set of 3 alternatives under 2 possible states of nature. States A1 A2 A3 1 12 -2 8 2 4 10 5 Where: S1 is state of nature 1 A1 is action alternative 1 S2 is state of nature 2 A2 is action alternative 2
The following payoff table shows profits associated with a set of 3 alternatives under 2 possible states of nature. States A1 A2 A3 1 12 -2 8 2 4 10 5 Where: S1 is state of nature 1 A1 is action alternative 1 S2 is state of nature 2 A2 is action alternative 2
The following payoff table shows profits associated with a set of 3 alternatives under 2 possible states of nature. States A1 A2 A3 1 12 -2 8 2 4 10 5 Where: S1 is state of nature 1 A1 is action alternative 1 S2 is state of nature 2 A2 is action alternative 2
A survey of 400 customers was completed in an attempt to measure the number of cups of coffee ordered during business hours versus those ordered during non-business (pleasure) hours. They also recorded how many items were purchased during the transaction. Results are as follows: Customer 0 extra 1 extra 2 extra 3 or more Tota
1). A citizen's action committee against nuclear power is comprised of 4 Democrats, 8 Republicans, and 3 Conservatives. If one person is randomly selected from this committee: a. find the probability of selecting a Democrat. b. find the probability of selecting a Democrat or a Republican. 2). An automobile manufacturer
Probability Theory Question: Please see the attached document for the full problem description.
Nathan wants to approximate a binomial probability by normal curve areas. The number of trials is 50 and the probability of success for each trial is 0.95. Can Nathan use the normal curve area to approximate a binomial probability?
Nathan wants to approximate a binomial probability by normal curve areas. The number of trials is 50 and the probability of success for each trial is 0.95 Can Nathan use the normal curve area to approximate a binomial probability?
How would you use the concept of probabilities to apply to profiles for hiring more satisfied individuals?
Suppose 1.5 percent of the antennas on new Nokia cell phones are defective. For a random sample of 10 antennas, find the probability that: a. None of the antennas is defective. b. Three or more of the antennas are defective. c. At most 3 are defective. d. All 10 antennas are defective.
The Arizona Republic reported that the mean number of hours worked per week is 43.9. The article further indicated that about one third of those employed work less than 40 hours per week. a. Given this information and assuming that number of hours worked follows the normal distribution, what is the standard deviation of the
Your mail-order company advertises that it ships 90% of its orders within three working days. You select a simple random sample of 100 of the 5000 orders received in the past week for an audit. The audit reveals that 86 of these were shipped on time. If the company really ships 90% of its orders on time, what is the probability
1) Assume a 3 year sports contract with the following provisions: - $1,400,000 signing bonus - $2,500,000 per year for 3 years - 10 years of deferred payments of $1,250,000 per year beginning in year 4 - Other bonus provisions that total as mush as $750,000 per year for the 3 years of the contract. Assume the player has a
45, 52, 71, 72, 59, 60, 63, 64, 64, 72 72, 64, 65, 69, 69, 70, 70, 72, 72, 72 73, 74, 65, 68, 75, 76, 78, 78, 79, 79 80, 84, 84, 86, 87, 89, 48, 50, 89, 68 69, 90, 94, 95, 54, 55, 58, 59, 95, 100 1. Calculate the range and variance of the data 2. Create a histogram of the data. 3. Based on your answers to th
The values (in thousands of dollars) of cars owned by six persons are 13, 9, 3, 28, , and 16. Where, X1 = 13, X2 = 9, X3 = 3, X4 =28, X5 = 7, X6 = 16 Calculate: a. ΣX b. ΣX c. (Σ X)
(See attached file for full problem description) --- 5.21 Assume that the number of network errors experience in a day on a local area network (LAN) is distributed as a Poisson random variable. The mean number of network errors experienced in a day is 2.4. What is the probability that in any given day a.) Zero network error
Decide whether to add juice sales at a coffee shop. States of Nature Hgh Sales Med. Sales Low Sales A(0.2) B(0.5) C(0.3) A1 (sell juices)
If I live in the state of California, with a labor force of 17,823,401, and the unemployment rate for 2005 is 5.1% (910,963); what is the probability that I will find a job in 6 months after being laid off?
21. Given the following network with activities and times estimated in days. (see attached file for diagram and chart) Activity Optimistic Most Probable Pessimistic A 2 5 6 B 1 3 7 C 6 7 10 D 5 12 14 E 3 4 5 F 8 9 12 G 4 6 8 H 3 6 8 I 5 7 12 J 12 13 14 K 1 3 4 a. What are the critical path activiti
An alcohol awareness task force at a Big Twelve university sampled 200 students after the midterm to ask them whether they went bar hopping the weekend before the midterm or spent the weekend studying, and whether they did well or poorly on the midterm. The following result was obtained: (See attached file for full problem de
1. A husband and wife want to purchase wallpaper for their living room and paint for their kitchen. If they can choose from six different wallpaper patterns and ten different colors of paint, how many possible outcomes from this sequence of events do they have available? 720 16 7200 60
If one card is drawn from a deck, find the probability of getting these results. a- An Ace b- A diamond c- An ace f diamonds d- A 4 or a 6 e- 4 or a club f- A 6 or a spade g- A heart or a club h- A red queen i- A red card or a 7 j- A black card or a 10 If four students are seated on a bench, find the probabi
1. A new book is being released and a bookstore predicts that 70% of customers that walk through the door on the release day will purchase the book. If 30 customers walk through the door, answer the following: (MUST SHOW WORK) A) What type of distribution function (name) is the model for this situation? B) What is the expected
Each airline passenger and his or her luggage must be checked to determine whether he or she is carrying weapons onto the airplane. Suppose that at Gotham City Airport, 10 passengers per minute arrive, on average. Also, assume that inter-arrival times are exponentially distributed. To check passengers for weapons, the airport mu
MacBurger's is attempting to determine how many servers to have available during the breakfast shift. On average, 100 customers arrive per hour at the restaurant. Each server can handle an average of 50 customers per hour. A server costs $5 per hour, and the cost of a customer waiting in line for one hour is $20. Assuming that a
#52 The first card selected from a standard 52-card deck was a king. If it is returned to the deck, what is the probability that a king will be drawn on the second selection? If the king is not replaced, what is the probability that a king will be drawn on the second selection? What is the probability that a king will
The probabilities of the events A and B are .20 and .30, respectively. The probability that both A and B occur is .15. What is the probability of either A or B occurring? America West Airlines reports the flight time from Los Angeles International Airport to Las Vegas is 1 hour and 5 minutes, or 65 minutes. Suppose the a
Assume in a single game sudden death playoff between team A and team B that team A would win with probability 0.6. a) what if the league deicdes to play a best of 3 series instead of a sudden death playoff. what is the probability that team B would win? show your calculations b)what if the league decided to play a best of
A buyer for a large department store chain must place orders with an athletic shoe manufacturer 6 months prior to the time the shoes will be sold in the department stores. In particular, the buyer must decide on November 1 how many pairs of the manufacturer's newest model of tennis shoes to order for sale during the upcoming sum
Provide an example of determining standard deviation based on a normal probability distribution.