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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?
Regression line drawn as y=c+1075x, when x was 2, and y was 239, given that y intercept was 11. Caculate the residual
5/7+5/14
Describe Independent Events in maths? Events are independent if the outcome of one event does not affect the outcome of the second event. If A represents one independent event
A man invests rs.10400 in 6%shares at rs.104 and rs.11440 in 10.4% shares at rs.143.How much income would he get in all?
A word on an alphabet is any arrangement of the letters in the alphabet. For example,ODD, DOD, DOO, DDD are three-letter words on the alphabet {D,O}. How many four-letter words are
Longer- Term Forecasting Moving averages, exponential smoothing and decomposition methods tend to be utilized for short to medium term forecasting. Longer term forecasting is
A bag contains 19 tickets, numbered from 1 to 19. A ticket is drawn and then another ticket is drawn without replacement .Find the probability that both tickets will show even numb
Multiple Linear Regression Models There are situations whether there is more than one factor which influence the dependent variable Illustration Cost of production weekl
what is the LCM of 18, 56 and 104 show working
A car was machine washes every car in 5 minutes accurately. It has been calculated that customers will arrive as per to a Poisson distribution at an average of 8 per hour. Calculat
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