User Account

All Pages

AP2, Operation Management

Assignment Help:
Play now? Play later?
You can become a millionaire! That''s what the junk mail said. But then there was the fine print:
If you act before midnight tonight, then here are you chances: 0.1% that you receive $1,000,000;
75% that you get nothing, otherwise you must PAY $5000.
But wait, there''s more! If you don''t win the million AND you don''t have to pay on your first attempt then
you can choose to play one more time.
If you do, then we 20X your probability of winning big - yes, you will hava a 2% chance of
receiving $100,000 and 60% chance of winning $7500, but must pay $10,000 otherwise.

What is your expected outcome for attempting this venture? Solve this problem using
a decision tree and clearly show all calculations and the expected value at each node.

Answer these questions:
1) should you play at all? (5%) And if so, what is my expected (net) monitary value? (10%)
2) If you play and don''t win at all on the first try (but don''t lose money), should you try again? (5%) Why? (5%)
3) clearly show the decision tree (40%) and expected net monitary value at each node (25%)

Related Discussions:- AP2

Explain diagnostic equipment and communications, Last year, the manager of ...

Last year, the manager of the service department at East Woods Ford instituted a customer opinion program to find out how to improve service. One week after service on a vehicle wa

State the term capacity, State the term capacity. Capacity: It is...

State the term capacity. Capacity: It is the capability of an operation to do and produce. The maximum restriction to the volume of product or service an organisation can

Explain early european explorations of the americas, Need information on th...

Need information on this; did not receive my textbook as of yet European Explorations Debate the pros and cons of the early European explorations of the Americas. Should thes

Explain employer disciplinary actions, Identify how the issues of due proce...

Identify how the issues of due process and just cause are linked to employer disciplinary actions

Explain a typical self-managing team is comprised of, Need these questions ...

Need these questions answered; Have to do a paper on the answers. 1. XYZ, Inc. is making decisions and taking actions with regard to pricing, promotion, and product design of th

Benchmarking, I need an assignment regarding benchmarking in Operations Str...

I need an assignment regarding benchmarking in Operations Strategy

Explain capacity planning involving hiring, Capacity planning involving hir...

Capacity planning involving hiring, layoffs, some new tooling, minor equipment purchases, and subcontracting is considered as which one of the following planning horizons?

Explain what is economic value added, Spencer Inc. has the following inform...

Spencer Inc. has the following information for the current year: Net income = $600; Net operating profit after taxes (NOPAT) = $500; Total assets = $4,000; Short-term investments =

Explain competitive advantage only exist for a short time, With the realiti...

With the realities of today's technological innovation and the realities of the current economy, competitive advantage only exist for a short time and are quickly outdated. Agree o

Explain elements necessary for the formation of a business, What are the th...

What are the three elements necessary for the formation of a business contract? What are the six defences to formation of a contract? Illustrate your definitions with examples of e

Write Your Message!

Captcha
Order Assignment

Featured Services

Order Now

Popular Subjects

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd