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(1) Suppose that a car rental agency offers insurance for week that will cost $10 per day. A minor fender bender will cost $ 1,500, while a major accident might cost $ 15,000 in repairs. Without the insurance, you would be personally liable for any damages. What should you do? Clearly, there are two decision alternatives: take the insurance or do not take the insurance. The uncertain consequences, or events that might occur, are that you would not be involved in an accident, that you will involved in a fender bender, or that you would be involved in a major accident. Assume that researched insurance industry statistics and found out that probability of a major accident is 0.05% and that the probability of a fender bender is 0.16%. What is the expected value decision? Would you choose this? Why or why not? What would be some alternate ways to evaluate risk?
(2) Suppose that the service rate to a waiting line system in 10 customers per hour (exponentially distributed). Analyze how the average waiting time is expected to change as the arrival rate varies from two to ten customers per hour ( exponentially distributed)
A good example of a "site-specific" work is
Since the success of a project rests largely on the performance of the team, what are some techniques a project manager can employ to foster a group of individuals in becoming a cohesive and high-performing team?
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What is the definition of a sustainability indicator, and how is it different from a typical urban indicator?
Explain whether or not the code adequately guides the service provider. Evaluate whether the code is adequate for intended use.
If land documentation of land given to slaves are no longer in the court, where can this information be found (just so happen that this information is no longer in the court) state of LA
Most people have views that are strongly influenced and informed by philosophy, often without realizing it. Identify a view you have—whether on politics, religion, science, culture, or even the media and entertainment—that might be regarded as being ..
Summertime ground-level ozone in Charlotte (ozone pollution) can increase from 15 ppb to as much as 140 ppb in the mid-afternoon. Assume ozone affects an area of 5 km by 5 km and a shallow layer of 500m.
What kind of marketing channel functions can be performed over the Internet? Why do you think so? Decide which distribution intensity level – intensive, selective, or exclusive – is used for the following products, and why? (a) Land Rover sport utili..
question 1in working environment when an employee is in the mid of making decision based on business ethics dilemma of
Global warming is a topic that has been on the news. In your own words, do you believe that there really is an environmental crisis or do you believe that there is hype to create demand and profits in certain markets
Where can I find the study done at University of Florida on Radiant Barrier systems for metal roofing?
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