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Machine Works is a firm supplying quality metal gears to manufacturers of high-end clocks.
Machine Works is faced with the problem of extending credit to a new customer, Qualclocks, in connection with a contract for next year's season. Machine Works has three risk categories for credit - "poor'', "average" and "good" according to repayment behavior. Its experience is that 30% of companies similar to Qualclocks are "poor'', 50% "average", and 20% ''good". If credit is extended, the expected net contribution from the work is a loss of 400,000 for "poor" credit behavior, a profit of 200,000 for "average", and a profit of 300,000 for "good". If Machine Works does not extend credit, Qualclocks will go elsewhere. Address the following questions using decision trees and the expected value criterion:
Calculate the actual probability model.- Compare the distribution of outcomes in your simulation to the probability model.
In a study , the average age of the male candidates who were affected , was 38.20 whereas the average age of the female subjects was calculated to 34.976 with the standard deviation of 156.91 and 116.16 respectively
Let S be a random variable (not necessarily positive). Prove using Markov's inequality that for every p>0 and for every constant q,
We are interested in testing to find out whether the variance of the population is vitally more than 0.003
Identify the following as either (a) observation, (b) parameter, (c) population, (d) sample, or (e) statistic: All employees at that place of employment.
I need the answers of these questions and I have seen these questions in your website. Task 3 LO3: Understand the role of the major EU institutions. Task 3a The Communities Act 1972, which gives legitimacy to the UK's membership of the EU is under..
30% student take only Chinese, 30 % student take only Maths. It is found that both male n female has the equal chance to wear spectacles. Draw a tree diagram.
In a two-sided hypothesis test to see if the average accounts receivable has changed, the best formulation of the null hypothesis is?
a recent national study about the effectiveness of echinacea in cold treatments was performed by a medical school in
Convert Alisha's grandmother's score to a z score among the distribution of exercise capacity in Americans over seventy years old. Who has a relatively longer exercise capacity compared to her peers-Alisha or her grandmother?
What are the two variables of interest? For each variable, state whether it's scale or ordinal.- Calculate the Spearman correlation coefficient for these two variables.
A local health center noted that in a sample of 400 patients 80 were referred to them by the local hospital. a) Provide a 95% confidence level for all the patients who are referred to the health center by the hospital.
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