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Business Application Project Select a decision oriented issue from your profession that can be measured using Applied Information Economics (AIE) to come to a specific decision. Write a report that describes the AIE framework as follows: o Define the decision o Determine what you know o Compute the value of additional information o Measure where information value is high o Make a decision and act on it (or prepare a detailed action plan) This report should be completed within 7-10 pages plus exhibits
If the mean systolic blood pressure is 130 and the standard deviation is 8, find the upper and lower readings that would qualify people to participate in the study.
Decision rule which chooses alternative associated with smallest maximum opportunity loss is?
make a decision about the given claims. use only the rare event rule stated in section 8-2 and make subjective
Assume that the result is a sample size beyond what you can obtain. Use the compromise function to compute alpha and beta for a sample half the size. Indicate the resulting alpha and beta. Present an argument that your study is worth doing with th..
Over the past 30 years in the United States, there has been a strong negative correlation between the number of infant deaths at birth and the number of people over age 65. What lurking variables might be causing the changes in each of the variabl..
Formulate and solve an integer programming model for this problem to assist the company in determining which plants should remain open and which should be closed and the number of vehicles that should be shipped from each plan to each warehouse to..
Find the area of the indicated region under the standard normal curve.
is there an association between the use of computerized system and hospital mortality? in a large-scale hospital study
A confidence interval with a 95% confidence level for the proportion of voters who are in favor of the proposition in a referendum is (0.71, 0.77). How many persons were surveyed in this poll?
As the Marketing Director of Harley-Davidson, you need to determine what your customers would like in the next model. You put a survey on the Harley Web site. Is this a good frame from which to select your sample? Explain.
Make up a scatter diagram with 10 dots for each of the following situations:
It is said that happy and healthy workers are efficient and productive. A company that manufactures exercising machines wanted to know the percentage of large companies that provide on site health club facilities. A sample of 240 such companies s..
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