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Question: 1. Explain in your own words the idea of subjective probability.
2. Explain in your own words the difference between assessing the probability for a discrete event and assessing a probability distribution for a continuous unknown quantity
3. Suppose your father asked you to assess the probability that you would pass your decision-analysis course. How might you decompose this probability assessment? Draw an influence diagram to represent the decomposition.
Five jobs must be scheduled for batch processing on a mainframe computer system. The processing times and the promised times for each of the jobs are listed.
Rework Example using the MACRS depreciation method (assume three-year property class) instead of the SL depreciation method.
A 120-seat family restaurant is open Mondays to Saturdays only for lunch and dinner. On Sundays and holidays, totaling 60 days annually.
How many hours per day should each company operate to produce the required amounts of baseballs and cletes while minimizing the cost of production? What's the minimum production cost?
Show that the final parity check in a horizontal and vertical parity check code, if taken as the modulo 2 sum of all the data bits, is equal to the modulo.
Consider the following network flow problem: Numbers shown above the nodes are supplies (negative values represent demands) and numbers shown above the arcs.
What is the analogous statement for the Lebesgue Covering Theorem when speaking of compact metric spaces
At least how much more quickly can digital images be retrieved? Use the data above to answer at the 95% confidence level; justify, if possible, any assumptions you make
Your iron works has contracted to design and build a 500-cubic foot, square based, open topped, rectangular steel holding tank for a paper company.
If the average new home costs $ 275,000 today, how much will it cost in 10 years if the price increases by 5 percent each year?
Obtain your results for n = 2, 4, 6, ...., 40 panels. For each case, calculate the error in the approximation using the exact value of the integral.
A certain college graduate, Sallie Evans, has $24,000 in student-loan debt at the end of her college career. The interest rate on this debt is 0.75% per month.
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