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Joe wants to sell his car. He receives one offer each month and must decide immediately whether to accept the offer. Once rejected, the offer is lost. The possible offers are $600, $800, and $1,000, made with probabilities 5/8, ¼ and 1/8 respectively (where successive offers are independent of each other). There is a maintenance cost of $60 per month for the car. Joe is anxious to sell the car and so has chosen a discount factor of α = 0.95. Using the policy improvement algorithm, find a policy that minimizes the expected total discounted cost.
R2 000 is invested at 10% per annum compounded half-yearly. After three months, the interest rate changes to 12% per annum compounded monthly. Find the value of the investme
How many ways are there of obtaining 10 patients expressing a preference for drug A. Repeat for 9 patients. 8 patients. ... 1, 0 patients. Tabulate your results - What is th
Suppose that the continuous-time stochastic process {X(t),t ≥ 0}, whose state space is {0,1}, spends an exponential time with parameter 1 in a state the first time it visits t
What is the estimated increase in the interval of time until the next wruption that corresponds to an increase of 60 seconds in the duration?
The three models for auction price (y) have R2 and s values, as shown in the table. Based on this information, which of the three models would you use to predict red Bordeau
Equation of the line passing through the summary points. Calculate distance from line through the outer summary points to the middle point. Equation of the median-median line
Show the weakness in someone's character encourage someone to take action promote someone's personal agenda prove someone's incorrect statements Which answer is correct?
A simple random sample is to be drawn from a population of 800. In order to have 95% confidence that the sampling error in estimating π is no more than 0.03, what sample siz
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