Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Assignment: Probability Analysis
A General Manger of Harley-Davidson has to decide on the size of a new facility. The GM has narrowed the choices to two: large facility or small facility. The company has collected information on the payoffs. It now has to decide which option is the best using probability analysis, the decision tree model, and expected monetary value.
Options:
Facility
Demand Options
Probability
Actions
Expected Payoffs
Large
Low Demand
0.4
Do Nothing
($10)
Reduce Prices
$50
High Demand
0.6
$70
Small
$40
Overtime
Expand
$55
Determination of chance probability and respective payoffs:
Build Small:
0.4($40)=$16
0.6($55)=$33
Build Large:
0.4($50)=$20
0.6($70)=$42
Determination of Expected Value of each alternative
Build Small: $16+$33=$49
Build Large: $20+$42=$62
In hypothesis testing we must balance the 2 types of errors, Type I and Type II. This is not unlike what happens in a jury trial. This week we will discuss the similarities and differences between hypothesis testing and the trial of a defendant. H..
Recent information published by the U.S. Environmental Protection Agency indicates that Honda is the manufacturer of four of the top nine vehicles in tems of fuel economy.
Consider Mary's study of whether the learning of 6th graders on a math lesson is affected by background noise level. Describe the pros and cons of Mary using a repeated measures design for this study. What would you probably choose to do? Suppo..
Find the z-scores for which 88% of the distributions area lies within -z and z. The z-scores are ?
What is the approximate percentage of the players that are taller than 65.6 inches?
Air Sampling Problem: You are an industrial hygienist that is conducting personal sampling on a worker who is overseeing a production process involving use of toluene (Note: The Occupational Safety and Health Administration has established a Permissi..
Let X~N(2,6) and Y~N(-3,2) and Z~N(0,1). All three random variables are independent of each other. Do the following. a. What is the distribution of W=X+Y+Z? What are E(W) and Var(W)? b. What is the distribution of Q=2Y?
The mean percentage of correctly recalled words was calculated for each type of list for each participant. From the information provided on the right, does any difference exist between the recall of high versus low frequency words?
The diameter of a mechanical cylinder is 3 inches but can be as large as 3.03 inches and as small as 2.97 inches. If the process has a grand mean of 3.01 inches and a standard deviation of.02 inches. What is the probability of producing bad cylinde..
Scores by women on the SAT-I test are normally distributed with a mean of 998 and a standard deviation of 202. Scores by women on the ACT test are normally distributed with a mean of 20.9 and a standard deviation of 4.6. Assume that the two tests ..
a)Complete the ANOVA table. b) What is the multiple standard error of the estimate?c) What is R2?
The United States has ten times the population of Canada. Assuming equal standard deviations, how many American teenagers must be sampled in order to estimate the true mean amount of time American teenagers spend on the internet per day to within 15..
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd