Describe a decomposition strategy

Assignment Help Engineering Mathematics
Reference no: EM131524020

Question: Describe a decomposition strategy that would be useful for assessing the probabilities in Problem I.

Problem I: Consider the following two outcomes:

a. You will get an A in your most difficult course.

b. You will get an A or a B in your easiest course.

Can you assess the probability of these outcomes occurring? What is different about assessing probabilities regarding your own performance as compared to assessing probabilities for outcomes like those in Problem II?

Problem II: Assess your probability that the following outcomes will occur. Use the equivalent lottery method as discussed in the chapter. If possible, use a wheel of fortune with an adjustable win area, or a computer program that simulates such a wheel. What issues did you account for in making each assessment?

a. It will rain tomorrow in New York City.

b. You will have been offered a job before you graduate.

c. The women's track team at your college will win the NCAA championship this year.

d. The price of crude oil will be more than $200 per barrel on January 1, 2030.

e. The Dow Jones industrial average will go up tomorrow.

f. Any other uncertain outcome that interests you.

Reference no: EM131524020

Questions Cloud

Personal and professional goals in nursing : Advancing my nursing career has always been a personal and professional goal throughout the years.
Market structure to include profit maximization : Key characteristics that define said market structure to include profit maximization, quantity to produce, and whether or not to increase, decrease, or remain.
What is effective annual interest rate charged on such loan : Home loans typically involve “points,” which are fees charged by the lender. What is the effective annual interest rate charged on such a loan,
Describe your perspective on communication technology : Describe your perspective on communication technology such as wireless communication, the Internet, and smart phone technology.
Describe a decomposition strategy : Assess your probability that the following outcomes will occur. Use the equivalent lottery method as discussed in the chapter.
Application of theoretical concepts : In your answer consider international financial flows (eg current account balances) and the variables that drive them such as trade, exchange rates and interest
Calculate the present value of your payments to the bank : Calculate the present value of your payments to the bank if the interest rate available on other deposits is 6.75%.
Benners from novice to expert : Non-traditional students now need to divide a 24-hour day into time to attend class, study, do homework, a job, and family issues.
Monopolist profit-maximizing quantity : A monopoly has costs described by TC(Q)=7500+20Q. Demand is described by P=100-0.2Q. What is the monopolist's profit-maximizing quantity (Q)?

Reviews

Write a Review

 

Engineering Mathematics Questions & Answers

  Develop steady-state diagram connecting states of the system

Consider a factory with a two-identical servers where jobs can be run on either of the two servers. All jobs have the mean-arrival rate of ?.

  Dual prices and the range of feasibility

Explain the connection between reduced costs and the range of optimality, and between dual prices and the range of feasibility.

  Estimate the hourly production and unit cost of excavation

A tractor-mounted ripper will be used for excavating a limestone having a seismic velocity of 6000 ft/s (1830 m/s). Field tests indicate that the ripper.

  What is the new probability of finding oil

An oil company purchased an option on land in Alaska. Preliminary geologic studies assigned the following prior probabilities.

  Evaluate the fourier transform

Evaluate the Fourier transform of each of the functions of time given in Fig.

  Determine the optimal product mix

Formulate a linear programming model to determine the optimal product mix that will maximize profit. Transform this model into standard form.

  Which slurry pump should you select

Create a spreadsheet to solve Example. What would the capital investment amount for pump SP240 have to be such that the firm would be indifferent.

  1a state the limit denition of the derivative fxb using the

1.a state the limit de?nition of the derivative fx.b using the limit de?nition of the derivative compute fx when f x

  Estimate the current proportion of health care insurance

The percentage of No not covered by health caw insurance in 2003 was 15.6% (Si/nis-i/cc/Abstract of the United States. 2006).

  What is the significance of this observation

Suppose our definition of a network is relaxed so as to allow arcs to enter the source and/or leave the sink; now the volume of a flow x is properly defined.

  What is the cumulative distribution function of time failure

For the pressure transducer mentioned in Problem, use the failure rate function to estimate the likelihood that a transducer that has been operating.

  Anova for the analysis

Would you recommend using a z-test, a t-test, or an ANOVA for the analysis?  Explain your answer. What would your choice of test depend on?  For the test you select, explain your design and your comparison groups.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd