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Jerry Young is considering opening a bicycle shop in his hometown. Jerry can open a small shop, a large shop, or no shop at all. Because there will be a five-year lease on the building that Jerry is thinking about using, he wants to make sure that he makes the correct decision. If Jerry builds the large bicycle shop, he will earn $60,000 if the market is favorable but he will lose $40,000 if the market is unfavorable. The small shop will return a $30,000 profit in a favorable market and a $10,000 loss in an unfavorable market. Jerry’s old marketing professor will charge him $5,000 for a marketing survey. It is estimated that there is a 0.6 probability that the survey will be favorable. Furthermore, there is a 0.9 probability that the marker will be favorable if the outcome of the survey is favorable. However, the marketing professor has warned Jerry that there is only a 0.12 probability of a favorable markey if the marketing research results are not favorable. If the survey is conducted and the results are favorable, what is the payoff?
Assuming that a new battery has just been installed, what is the probability that the battery will FAIL during a 2 hourexam?
As Americans, we are all told that we can be whatever we want, yet many have the idea that all is a matter of fate or divine predetermination, as when someone says, "Everything happens for a reason." Which of these two sentiments do you believe and l..
question 1if your goal was to construct a network in which all points were connected and the total distance between
Discuss/explain the concept of ethics in the business context. Some of the questions you should address include: What is/are business ethics? What role doe they play in an organization? Explain the difference between "legal and ethical" and the poten..
After the new advertising campaign was launched, a marketing study found that the sample mean spending for 300 respondents in the 18–35 age group was $75.86, with a sample standard deviation of $50.90. Is there sufficient evidence to conclude that th..
For twenty years, Maynard works for Natural Gas Wells, Inc., which employs more than five hundred persons in two states. Natural Gas Wells drills for and mines natural gas to sell and transport to refineries, which in turn pipes liquefied gas to othe..
Place yourself in the position of an employee receivning a performanee reveiw. Would it matter to you whether your performance review, the narrative description of your performance levels, and suggestions for improvement were generated by comput..
Tyler has created a spreadsheet to keep track of his customers for his house-sitting business. In the spreadsheet, he includes the owners’ names, addresses, phone number, and number of days his services are needed. Tyler inserts a new column between ..
Use optimization theory to analyze the below statement and tell me whether-thinking as an economist-you would agree or disagree with them and why
Joe Henry's machine shop uses 2480 brackets during the course of a year. these brackets are purchased from a supplier 90 miles away. The following information is known about the brackets
A young couple has $20,000 (90% of their savings) to invest in either savings bonds or a real estate deal. The (zero coupon) savings bonds return $25,000 ($5,000 interest) in three years. What do you know about the certainty equivalent (for the coupl..
Consider this module’s topics and readings you found as well as the Management History Timeline. Identify improvements made to the original methods used in the illumination experiments while conducting the relay-assembly test room experiments. In you..
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