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1. When a movie producer decides whether to produce a major motion picture, the main question is how much revenue the movie will generate. Draw a decision tree of this situ ation, assuming that there is only one fundamental objective, to maximize revenue. What must be included in revenue to be sure that the clarity test is passed?
2. You have met an acquaintance for lunch, and he is worried about an upcoming meeting with his boss and some executives from his firm's headquarters. He has to outline the costs and benefits of some alternative investment strategies. He knows about both deci sion trees and influence diagrams but cannot decide which presentation to use. In your own words, explain to him the advantages and disadvantages of each.
Let X be a random variable which is distributed normal with mean 200, but you don't know the standard deviation. Do pairwise comparisons (greater than, equal to, less than or can't say) for the following four quantities:
The Asian Box and Container (ABC) Company manufactures containers used in the food industry. Its major product are containers that transport Fortune Cookies from the manufacturer to (primarily) Chinese restaurants in various parts of the United St..
a study of drinking and driving has found that 40 of all fatal auto accidents are attributed to drunk drivers 2 of all
a teacher plans to construct a 25 question exam from previous exams in which there are 50 true false questions and 80
Calculate the test statistic and Find expected frequencies - Identify the claim and state the null and alternative hypotheses and determine the degree of freedom, find the critical value, and identify the rejection region.
The world incidence of (frequency of world population having) diabetes is 5%. If 20 persons are chosen at random, what is the probability that no more than 3 have the disease
Explain the logic of the ordinary least Square (OLS) method? How are the least squares formulas for the slope and intercept derived?
Portfolio Risk. Who would view the stock of Learning Tower of Pita as a risk reducing investment - the owner of a gambling casino or a successful bankruptcy lawyer? Explain.
Mike hears the weather forecast, and there ia a 50 percents chance of rain.Find the probability that he will have to work overtime given taht it rains.
Suppose a card has just been inserted and the light is green - What is the probability that the door will actually open
Compute the difference in traffic counts on the 6th and the 13th. Can you conclude that people tend to stay home more on Friday the 13th?
question the statistical mean can be used to measure various aspects of the teen market including amount spent age of
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