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Question A and B are two contractors independently bidding on a job. The contract will go to the lowest bidder. Contractor A submits a random bid X~Uniform(0,1) while contractor B submits a random bid Y with a probability density fy(y) = 2y for 0 < y < 1 and fy(y) = 0 otherwise.
a) What is the joint density of Xand Y?b) Find the probability contractor A is awarded the iob.c) Find the expected value of the winning bid.
For 2011, Flint Corporation sold 100,000 units of its profit for $20 each. The variable cost per unit was $12, and Flint's margin of safety was 30,000 units. What was the amount of Flint's total fixed costs?
Assume you are going to manage a large construction project involving many subcontractors. Why use PERT or CPM to plan the project rather than just logically scheduling the subcontractors?
Foundations of Logistic Regression
Assume that in healthy American men the level of hemoglobin is normally distributed with mean ?=14 and standard deviation?=1.1.
What makes a cost relevant for decision-making? Why are fixed costs not relevant for most short-term decisions?
What are some benefits of an auditor using statistical sampling? What are some examples of statistical sampling? Does anyone have any experience they are willing to share with the class on statistical sampling?
Complete the following time card for Janice Anderson She earns time and half overtime when she works more than eight hours on a weekday or on Saturday.
Enter the following data into SPSS and calculate the correlation matrix for all four variables. Identify which correlations are significant and state and interpret your findings. Report significant correlation coefficients and p values.
Define statistical algorithms and write the flow charts for statistical algorithms for sums, squares and products.
Red River Farm Machine makes a wide variety of products, all of which must be processed in the cutting and Assembly departments. For the year 2010, Red River budgeted total overhead of $993,000,
What is the critical path for this project and how much of the total budget would be spent in Week 8 (Period 8) with the earliest start budget?
Will the human subjects be informed of the nature of their involvement in the collection of data and of features of the research that reasonably might be expected to influence willingness to participate?
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