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Question: Two builders, A and B, are competing for a contract to construct a new office block. Each can bid either £3.5 million or £4 million for the job. The builder with the lower bid will win the contract and will be paid the value of their bid once the building is finished. If both bids are equal, a fair coin is tossed to decide who should win the contract. Builder A reckons that his real cost of completing the job is £2 million, whereas builder B reckons it will cost him 2.5 million to complete it.They decide to discuss their bids.
(i) Construct the table of pay-offs (i.e the expected profits) to the two builders and find the maximum profit each can reasonably expect to get.
(ii) Deter-mine the Shapley solution.
The probability of having a particular genetic disorder is 0.004. If 25 patients are tested for this disorder, what is the probability that 2 of them have this disorder?
A large tank of fish from a hatchery is being delivered to a lake. The hatchery claims that the mean length of fish in the tank is 15 inches, and the standard deviation is 2 inches. A random sample of 36 fish is taken from the tank.
each person received was determined by randomization. For each person who was sent one of the surveys, the researcher recorded whether or not a completed survey was returned.
Construct a 98% confidence interval for the population mean and interpret the result (round margin of error E to the nearest dollar).
In a study, 37% of adults questioned reported that their health was excellent. A researcher wishes to study the health of people living close to a nuclear power plant.
Post a behavioral research situation that could use a Pearson coefficient research study and a chi square research study to the Discussion Area.
Compute an exponential smoothing forecast with a =.20, an adjusted exponential smoothing forecast with a = .20 and B =.20 and a linear forecast. Compare the three forecast, using MAD and average error (E) and indicate which seem to be most accurat..
This study investigates whether there are differences in the outcomes of three different treatments for anxiety
1.the weight of medium-sized oranges selected at random from a large bin of oranges at the local supermarket is a
Would the null hypothesis be accepted or rejected in this case?
Compute a 95% confidence interval for the mean using the formula and where is the mean of the ten random numbers.
Cold this past winter and found out how long their cold symptoms lasted. Assuming that the Central Limit Theorem applies, give the sampling distribution of X for n = 50.
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