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Machine Works is a firm supplying quality metal gears to manufacturers of high-end clocks.
Machine Works is faced with the problem of extending credit to a new customer, Qualclocks, in connection with a contract for next year's season. Machine Works has three risk categories for credit - "poor'', "average" and "good" according to repayment behavior. Its experience is that 30% of companies similar to Qualclocks are "poor'', 50% "average", and 20% ''good". If credit is extended, the expected net contribution from the work is a loss of 400,000 for "poor" credit behavior, a profit of 200,000 for "average", and a profit of 300,000 for "good". If Machine Works does not extend credit, Qualclocks will go elsewhere. Address the following questions using decision trees and the expected value criterion:
Find the probability that student is happy with the choice of major, a psychology major and a communications major given that the student is happy with the choice of major.
An industry consists of two firms. The demand function for the product of firm i is qi = 24 - 5 pi + 2 p j . The marginal cost of production for each firm is zero. Find the price best-response function for firm i.
Professional sports are much more than just a game. Instead, they are increasingly becoming a scientific undertaking that is driven by data and numbers. Gone are the days of relying on raw talent and gut instinct to succeed. Although sports organi..
Case study on Page 635-636 of the text BOOK: (Anderson, Sweeney, Williams, Essentials of Modern Business Statistics w/ Microsoft Excel, 5th ed., South-Western College Pub, ISBN 978-0840062383 )Alumni Giving.
all february data was combined of 28 days of dataall august data was combined of 31 days of dataaugust 2013mean
Had the model parameters not been given, so that their values must be determined from the data, repeat the test in (i) and compare the results. What does this imply about the importance of obtaining independent parameter estimates before carrying ..
If the price of the home is $350,000 before any penalty or bonus adjustment, how much can the buyer expect to pay for her new home when it is completed?
Use the following frequency distribution to determine the midpoint of the second class.
Using the mean for this sample, and assuming that the population standard deviation is 0.25 fluid ounces, construct the 90% confidence interval for the population mean volume for the cans of paint provided by the supplier. If the labels on the..
In a study, 65 % of the 100 Republicans surveyed, favored the bill for a salary increase and 60 %of the 200 Democrats surveyed, favored the same bill for a salary increase. Test whether the proportions of Republicans and Democrats favoring this bi..
or a Poisson process of rate λ, the Bernoulli arrival approximation assumes that in any very small interval of length ?, there is either 0 arrivals with probability 1-λ? or 1 arrival with probability λ?. Use this approximation to prove Theorem 10..
Suppose you take a sample of size 100 of test scores and find that the mean is 63. What is the z-score corresponding to this sample mean?
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