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Mickey Lawson is considering investing some money that he inherited. The following payoff table gives the profits that would be realized during the next year for each of three investment alternatives Mickey is considering: Investment Options Good Economy Poor Economy Stock market $80,000.00 $-20,000.00 Bonds $30,000.00 $20,000.00 CDs $23,000.00 $23,000.00 Probabiity .5 .5 a) Mickey has always been a very optimistic decision maker, Of the three types of Decision making Evnironments that are possible, what type of decision is Mickey facing? What decision criterion should he use? What alternative is best? b) Mickey's wife has a pessimistic attitude, if Mickey takes her attitude into consideration, What decision criterion should Mickey use? What alternative will he select? c) Mickey's son, Bob, can't decide if he is optimistic or pessimistic. Bob is a financial analyst, Mickey trusts Bob's judgment. Bob believes his coefficient of realism a, is .65 What decision criterion should Mickey now use? What alternative will he select? d) Mickey's daughter, Cindy, likes to use the average payoff to make her decisions on her financial affairs. What decision criterion should Cindy use? What alternative will she select? e) Develop an opportunity loss table for the investment problem that Mickey Lawson faces. If Mickey wanted to Minimize his maximum regret, what decision would he choose? f) If Mickey wanted to minimize the expected opportunity loss? What is the minimum EOL? g) What decision would maximize Mickey's expected profits? h) What is the maximum amount that should be paid for a perfect forecast of the economy? i) Considering all the decisions calculated above, what do you think Mickey should do
Jill's father bought Jill a car with the understanding that she would pay the car off in four years by making equal monthly installments. The car cost her father $5000 plus 9% sales tax. How much are the monthly payments Jill must make to her fath..
The interest from the first investment was 4 times the interest from the second. Find the amount of the three parts of the investment.
The formula A = 6s^2 will calculate the surface area of cube. Suppose you have a cube that has a surface are of 216 in ^2. What is the length of each side?
This is your final post of the term! What did you think of the format of the class? Did you enjoy the tools and resources used? How do you think this class could have been improved?
A company was charged $40 to ship 150 pounds and $70 to ship 300 pounds. Use the ordered pairs (150,40) and (300,70) to find the average cost to ship per pound.
Find a 95% confidence interval for the true mean annual income of the nursing school alumni. Write a statement about the confidence level and the interval you find.
How are they interpreted in terms of the original problem? Are the results reasonable? If not, what are the failings of the model that led to poor results?
Pauline takes a loan of S dollars at an interest rate of r percent per month, compounded monthly. She plans to repay the loan in T equal monthly installments of P dollars each.
how many trails need to be built? Since it is considered bad luck to live at the end of a trail, can the trails be built so that no house is so situated?
467 tickets were sold. students paid $2.00 each while non students paid $4.00 each. If a total of $1,196.00 was collected, how many students attended and how many non students attended?
Suppose that V is a complex (i.e. F = C) inner-product space. Prove that if N, an element of L(V), is normal and nilpotent, then N = 0.
Natasha and Allison are playing a tennis match where the winner must win 2 sets in order to win the match.
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