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Adele Weiss manages the campus flower shop. Flowers must be ordered three days in advance from her supplier in Mexico. Advance sales are so small that Weiss has no way to estimate the demand for the red roses. She buys roses for $15 per dozen and sells them for $40 per dozen. The pay-off table for the problem is given below.
Demand for Red Roses
Alternative Low (25 dozen) Medium (60 dozen) High (130 dozen)
Do nothing 0 0 0
Order 25 dozen 300,000 300,000 300,000
Order 60 dozen 100,000 600,000 600,000
Order 130 dozen -100,000 400,000 900,000
Probability 0.3 0.4 0.3
What is the decision on demand based on each of the following criteria? Show work in making the decision for each criterion.
a) EMV approach
b) EOL approach
Fit a multiple linear regression model for predicting the hospital duration using age, sex, body temperature, white blood cell counts, antibiotic use, blood culture and service
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Probability distribution described by the following density curve and The expected value of the sum of the weights of the two oranges, in pounds
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A school tracks the absences of pupils as part of a flu surveillance system. Regular reporting of absences among 25 students in grade 1 are taken, and based on these data, the long-run proportion of absences under normal conditions is estimated to..
A business finds the average cost required to complete a project is $416 with a standard deviation of $57. A sample of 36 project cost reports was selected at random.
Find out and interpret coefficients of correlation and determination for U. S. prices versus Canadian prices.
Obtain a test statistic and p-value assuming equal variances. Interpret these results.
Santa Fe black on white is a style of pottery that occurs in about 61% of the pot shards found in the Bandelier National Monument area.
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