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    Quantitative Methods - Pilot Farm Project

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    Pilot Farm Project

    Probability Weather Peas Corn Tobacco Beets
    0.3 Dry 20 15 30 40
    0.5 Moderate 35 20 25 40
    0.2 Damp 40 30 25 40
    Net Income $1.00 $1.50 $1.00 $0.50
    per bushel

    a. Create a treeplan for the project
    b. What is the expected outcome?
    c. If the weather is expected to be 10% dryer than usual estimate the payoff?

    Prob 2 Pro

    Number sold 2 3 4 5 6
    Number of days 4 7 8 5 1

    Create a probability distribution for the number of items sold

    What is the standard deviation of the distribution?

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    https://brainmass.com/statistics/regression-analysis/quantitative-methods-pilot-farm-project-181360

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    Solution Summary

    This solution provides a qualitative methods problem in the context of a farm. It is solved in an attached Excel file and includes regression analysis information.

    $2.19

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