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The owner of TMH Hospital wants to open a new facility in a certain area. He usually builds 25-, 50-, or 100-bed facilities, depending on whether anticipated demand is low, medium or high. On the basis of his past experience, the probabilities of low demand, Medium demand and high demand are estimated as 0.1, 0.4and 0.5 and the short-range payoffs in Rs are calculated as follows.
Demand Acts Build 25 bed Build 50 bed Build 100 bed
Low 30,000 -20,000 -40,000Medium 35,000 50,000 -10,000High 40,000 55,000 75,000
1) What would be the best decision?
2) What is the value of Expected Value of Perfect Information?
A farmer grows apples on her 400-acre farm and must cope with occasional infestations of worms. If she refrains from using pesticides, she can get a premium for "organically grown"
#questionShow that the system oscillates in simple harmonic motion demonstrated by; , for which the general solution where X = (x – x0)..
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A sample of students had a mean age of 35 years along with a standard deviation of 5 years. A student was randomly picked from a group of 200 students. Determine the probability
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Need help, please anybody solve this: Consider the universal set T and its subsets A, B and C underneath as: T = {a, b, c, d e, f} A = {a, d} B = {b, c, f} C = {a, c
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64% of the students within the school play are boys. If there are 75 students in the play, how many are boys? To ?nd out 64% of 75, multiply 75 by the decimal equivalent of 64%
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