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After researching cysts of a particular type, a doctor learns that out of 10,000 such cysts examined, 1,500 are malignant and 8,500 are benign. A diagnostic test is available which is accurate 80% of the time (whether the cyst is malignant or not). The doctor has discovered the same type of cyst in a patient.
Determine which pair of strategies would competing companies A and B choose given this payoff matrix?
For the time-frame of this study, once a market has reached a higher category, it won't fall back to a lower category. What is the probability that Logistics will stop providing service to an Intermediate market before becoming a High market?
Find a real-world example where the uncertain quantity you are interested in can be modeled as a random variable with exponential distribution. Explain why the memoryless property indeed holds.
In a two player, one shot simultaneous move game each player can select strategy A or B. If both players select strategy A, each receives a payoff of $500.
Assume two competitors every face important strategic decisions where payoff to each decision depends upon reactions of the competitor. Company A can select either row in the payoff matrix defined below,
Advanced Micro Devices declared a 10 percent price raise for certain advanced microprocessors, used primarily in video games. The processors will sell for about $1,000 compared to Intel's $950 price.
The given matrix demonstrate the payoffs for an advertising game between Hilton and the Oriental. The companies can choose to advertise or to not advertise.
A manufacturer makes ball bearings that are supposed to have a mean weight of 30 g. A retailer suspects that the mean weight is actually less than 30 g. The mean weight for a random sample of 16 ball bearings is 29.5 g. with a standard deviation o..
Does this indicate that the percentage has increased from that of previous studies? Test at the 5% level of significance.
Solve the following LP problem using the corner point graphical method. At the optimal solution, calculate the slack for each constraints
Assume that JVC is trying to decide how to rate a new stereo system composed of a receiver, CD player, & speakers. The firm's economists have estimated that 2-different groups will buy these products
A random sample of 100 computers showed a mean of 115 gigabytes used with a standard deviation of 20 gigabytes. What is the standard error of the mean.
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