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First question is: Beverly Mills has decided to lease a hybrid car to save on gasoline expenses and to do her part to help keep the environment clean. The car she selected is available from only one dealer in the local area, but that dealer has several leasing options to accommodate a variety of driving patterns. All the leases are for 3 years and require no money at the time of signing the lease. The first option has a monthly cost of $330, a total mileage allowance of 36,000 miles (an average of 12,000 miles per year), and a cost of $0.35 per mile for any miles over 36,000. Beverly has estimated that, during the 3 years of the lease, there is a 40% chance she will drive an average of 12,000 miles per year, a 30% chance she will drive an average of 15,000 miles per year, and a 30% chance she will drive 18,000 miles per year. In evaluating these lease options, Beverly would like to keep her costs as low as possible. Develop a payoff (cost) table for this situation What decision would Beverly make if she were optimistic? What decision would Beverly make is she were pessimistic? What decision would Beverly make if she wanted to minimize her expected cost (monetary value)? Calculate the expected value of perfect information for this problem.
Business and Management The Savannah Sugar Refinery in Louisiana will invest in new energy-saving devices if there is evidence to suggest that the mean amount.
A discrete random variable Y takes the value -1, 0 and 1 with probabilities 1/2θ, 1- θ and 1/2θ respectively. Let Y1 and Y2 be two independent random variables, each with the same distribution as Y.
Rolling a die Simulate 36 rolls of a fair die. Give the relative frequency and the corresponding theoretical probability of each of the outcomes and compare them.
We desire the steady-state error to a step input to be approximately 5% and the phase margin of the system to be approximately 45°. Design a lag network to meet these specifications.
If you are using an analysis tool other than Excel, put your data into Excel and "Save As..." a comma-separated values (.csv) spreadsheet.
1. What kinds of statistical data play a role in an auto insurance firm's decision on the annual premium you'll pay for your policy? 2. For each of the following, indicate the scale of mea- surement that best describes the information.
Based on expected costs, for what annual premium per computer will the university be indifferent to purchasing the service contract?
In what way are the quota sample and the stratified sample similar? In what way are they different? What effect does this difference have on the applications for which such samples might be appropriate?
A sensitive measuring device should not have a large variance in the errors of measurements it makes. A random sample of 41 measurement errors gives s2 = 102.
Test whether the interaction effects between temperature and pressure are significant at the 5% level of significance.- What are the desirable settings of the process temperature and pressure if a ductile alloy is preferred?
The accountant will use a sample of weekend guest bills to test the manager's claim. Which form of the hypotheses should be used to test the manager's claim? Explain.
It cost a contractor $9,765 to manufacture their first unit. The company expects to experience a 75% unit learning curve. Estimate the cost of the 15th unit.
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