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Neo
Neo, Tutor
Category: Homework
Satisfied Customers: 12078
Experience:  BS Accounting
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This Question is for Neo! Are you there? Customer

Customer Question

This Question is for Neo!
Are you there?
Customer
Submitted: 2 years ago.
Category: Homework
Expert:  Neo replied 2 years ago.
Good day!

Yes; I am online.

There are 20 questions, right? Please divide them into separate posts.

Customer: replied 2 years ago.
I am not sure if the system will let me copy and paste.
Expert:  Neo replied 2 years ago.

If it cannot be copied, please take a snapshot.

Customer: replied 2 years ago.
Neo, I'm not sure how to take a snapshot.
Expert:  Neo replied 2 years ago.
Open your MS Word, open the window where the questions is located, click "Print Screen" button, go back to MS Word, right click, and then paste.

Customer: replied 2 years ago.

I am really nervous about doing this, because I am not sure if there is a print screen button available. If it's not then I can't stop the clock.

 

Is there anyway that you could call me and I will read the question to you?

Expert:  Neo replied 2 years ago.
I am very sorry but we are not allowed to communicate outside JustAnswer site.

The print screen button is on your keyboard not on the test page.

Customer: replied 2 years ago.

Neo I tried to copy and paste a question from week one quiz and it would not let me. Is it possible to send me any answers for Chapter 12 on decision-analysis?

Expert:  Neo replied 2 years ago.
Unfortunately, I do not have any idea of the questions as well.

Can they be highlighted?

Customer: replied 2 years ago.
Neo, these are some questions from last week quiz. Do you have anything relating to these problems?

 

If variable costs increase, but price and fixed costs are held constant, the break even point will decrease.

 

Fixed cost is the difference between total cost and total variable cost.

 

In general, an increase in price increases the break even point if all costs are held constant.

 

If events A and B are independent, then P(A|B) = P(B|A).

 

EKA manufacturing company produces Part # XXXXX for the aerospace industry. Each unit of part # XXXXX is sold for $15. The unit production cost of part # XXXXX is $3. The fixed monthly cost of operating the production facility is $3000. How many units of part # XXXXX have to be sold in a month to break-even?

 

Expert:  Neo replied 2 years ago.
Unfortunately, I have none.

Customer: replied 2 years ago.

How long will you be online, unfortunately someone expired in my husband family and I will be available most of the day. Will it be ok if we start this at 10:30 this morning?

 

Thanks

Customer/p>
Expert:  Neo replied 2 years ago.
That's ok. I am still available by then.

Customer: replied 2 years ago.

Thanks you so much.

 

I will return at 10:30am

Expert:  Neo replied 2 years ago.
Ok. :)

Customer: replied 2 years ago.

Neo, I am back. I hope that you can give me the answers in this screen, because I do not have time to download and print. Please stay with me for the entire hour, if it takes that long.

 

Let me know when you are ready.

Customer/p>
Expert:  Neo replied 2 years ago.
Ok.

Customer: replied 2 years ago.

Neo, these seven questions are true or false.

 

 

Seventy two percent of all observations fall within 1 standard deviation of the mean if the data is normally distributed.

 

If two events are not mutually exclusive, then P(A or B) = P(A) + P(B)

 

Probability trees are used only to compute conditional probabilities.

 

The Hurwicz criterion is a compromise between the minimax and minimin criteria.

 

Both maximin and minimin criteria are optimistic.

 

The equal likelihood criterion assigns a probability of 0.5 to each state of nature.

 

The maximin approach involves choosing the alternative with the highest or lowest payoff.

Expert:  Neo replied 2 years ago.
THIS ANSWER IS LOCKED!
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Neo, Tutor
Category: Homework
Satisfied Customers: 12078
Experience: BS Accounting
Neo and other Homework Specialists are ready to help you
Customer: replied 2 years ago.
  • 1. A professor would like to utilize the normal distribution to assign grades such that 5% of students receive A's. If the exam average is 62 with a standard deviation of 13, what grade should be the cutoff for an A? (Round your answer.)

Answer

 

 

80

 

 

83

 

 

90

 

 

93

  • 1. The chi-square test is a statistical test to see if an observed data fit a _________.

Answer

 

 

Normal probability distribution

 

 

continuous probability distribution

 

 

particular probability distribution

 

 

All of the above

  • 1. Assume that it takes a college student an average of 5 minutes to find a parking spot in the main parking lot. Assume also that this time is normally distributed with a standard deviation of 2 minutes. Find the probability that a randomly selected college student will take between 2 and 6 minutes to find a parking spot in the main parking lot.

Answer

 

 

0.1950

 

 

0.4772

 

 

0.4332

 

 

0.6247

 

 

  • 1. A business owner is trying to decide whether to buy, rent, or lease office space and has constructed the following payoff table based on whether business is brisk or slow.



    The maximax strategy is:

Answer

 

 

Rent

 

 

Buy

 

 

Brisk

 

 

Slow

Expert:  Neo replied 2 years ago.

Please create new post for this one. It's because the current price won't compensate for the number of questions involved.

Customer: replied 2 years ago.
  • 1. A business owner is trying to decide whether to buy, rent, or lease office space and has constructed the following payoff table based on whether business is brisk or slow.



    The maximin strategy is:

Answer

 

 

Buy

 

 

Rent

 

 

Lease

 

 

All three tie.

 

  • 1. A professor would like to utilize the normal distribution to assign grades such that 5% of students receive A's. If the exam average is 62 with a standard deviation of 13, what grade should be the cutoff for an A? (Round your answer.)

Answer

 

 

80

 

 

83

 

 

90

 

 

93

2 points

Question 9

  • 1.

The chi-square test is a statistical test to see if an observed data fit a _________.

Answer

 

 

Normal probability distribution

 

 

continuous probability distribution

 

 

particular probability distribution

 

 

All of the above

2 points

Question 10

  • 1.

Assume that it takes a college student an average of 5 minutes to find a parking spot in the main parking lot. Assume also that this time is normally distributed with a standard deviation of 2 minutes. Find the probability that a randomly selected college student will take between 2 and 6 minutes to find a parking spot in the main parking lot.

Answer

 

 

0.1950

 

 

0.4772

 

 

0.4332

 

 

0.6247

2 points

Question 11

  • 1.

A business owner is trying to decide whether to buy, rent, or lease office space and has constructed the following payoff table based on whether business is brisk or slow.



The maximax strategy is:

Answer

 

 

Rent

 

 

Buy

 

 

Brisk

 

 

Slow

 

Expert:  Neo replied 2 years ago.

I mean new question page.

http://www.justanswer.com/homework/


Customer: replied 2 years ago.

 

  • 1. A group of friends are planning a recreational outing and have constructed the following payoff table to help them decide which activity to engage in. Assume that the payoffs represent their level of enjoyment for each activity under the various weather conditions.

    Weather
    Cold Warm Rainy
    S1 S2 S3
    Bike: A1 10 8 6
    Hike: A2 14 15 2
    Fish: A3 7 8 9

    If the group chooses to minimize their maximum regret, what activity will they choose?

Answer

 

 

A1

 

 

A2

 

 

A3

 

 

Any of the above

2 points

 

Question 15

  • 1.

A brand of television has a lifetime that is normally distributed with a mean of 7 years and a standard deviation of 2.5 years. What is the probability that a randomly chosen TV will last more than 8 years? Write your anwsers with two places after the decimal.

Answer

2 points

 

Question 16

  • 1.

A life insurance company wants to estimate their annual payouts. Assume that the probability distribution of the lifetimes of the participants is approximately a normal distribution with a mean of 68 years and a standard deviation of 4 years. What proportion of the plan recipients would receive payments beyond age 75? Round your answer to four places after the decimal.

Answer

2 points

 

Question 17

  • 1.

A business owner is trying to decide whether to buy, rent, or lease office space and has constructed the following payoff table based on whether business is brisk or slow.



If the probability of brisk business is .40, what is the numerical maximum expected value?

Answer

2 points

 

Question 18

  • 1.

The quality control manager for ENTA Inc. must decide whether to accept (a1), further analyze (a2) or reject (a3) a lot of incoming material. Assume the following payoff table is available. Historical data indicates that there is 30% chance that the lot is poor quality (s1), 50 % chance that the lot is fair quality (s2) and 20% chance that the lot is good quality (s3).



What is the numerical value of the minimax regret?

Answer

2 points

 

Question 19

  • 1.

A manager has developed a payoff table that indicates the profits associated with a set of alternatives under 2 possible states of nature.

Alt S1 S2
1 10 2
2 -2 8
3 8 5

What is the highest expected value? Assume that the probability of S2 is equal to 0.4.

Answer

2 points

 

Question 20

  • 1.

A group of friends are planning a recreational outing and have constructed the following payoff table to help them decide which activity to engage in. Assume that the payoffs represent their level of enjoyment for each activity under the various weather conditions.

Weather
Cold Warm Rainy
S1 S2 S3
Bike: A1 10 8 6
Hike: A2 14 15 2
Fish: A3 7 8 9

If the probabilities of cold weather (S1), warm weather (S2), and rainy weather (S3) are 0.2, 0.4, and 0.4, respectively what is the EVPI for this situation?

 

Neo, I think theses are the last questions,

 

I have 28 minutes left

 

 

Expert:  Neo replied 2 years ago.
I am very sorry. I do not think I can answer all the remaining qestions.

Please create new posts just like before.

http://www.justanswer.com/math/


Customer: replied 2 years ago.
Where are you?
Expert:  Neo replied 2 years ago.

I am here.

Please create new posts just like before.

http://www.justanswer.com/math/

It's because I can answer some of the questions but not all of them.

Customer: replied 2 years ago.
A group of friends are planning a recreational outing and have constructed the following payoff table to help them decide which activity to engage in. Assume that the payoffs represent their level of enjoyment for each activity under the various weather conditions.

Weather
Cold Warm Rainy
S1 S2 S3
Bike: A1 10 8 6
Hike: A2 14 15 2
Fish: A3 7 8 9

If the probabilities of cold weather (S1), warm weather (S2), and rainy weather (S3) are 0.2, 0.4, and 0.4, respectively what is the EVPI for this situation?
Customer: replied 2 years ago.

Good Afternoon Neo,

 

Are you available?

 

Customer

Expert:  Neo replied 2 years ago.
Good day!

Please let me know the subject.

Customer: replied 2 years ago.

How long will you be available? I need some help around 6:pm

 

thanks

Expert:  Neo replied 2 years ago.
Unfortunately, I will be available only for the next 30 minutes. :(

Customer: replied 2 years ago.

ok, I'll contact you on Saturday Morning around 10:00 am

 

Thanks

 

Customer

Expert:  Neo replied 2 years ago.

It's EST, right?

I will be available by then.

Customer: replied 2 years ago.

Yes,

 

Thanks, and I will reply to you on Saturday Morning at 10:00 am

Expert:  Neo replied 2 years ago.

No problem. :)

Customer: replied 2 years ago.

An inspector correctly identifies defective products 90% of the time. For the next 10 products, the probability that he makes fewer than 2 incorrect inspections is 0.736.

 

True or False.

 

Simulation results will always equal analytical results if 30 trials of the simulation have been conducted.

 

True or False

 

  • 1. __________ is a measure of dispersion of random variable values about the expected value.

Answer

 

 

Standard deviation

 

 

Range

 

 

The z-score (the standard score)

 

 

All of the above

 

 

  • 1. Assume that it takes a college student an average of 5 minutes to find a parking spot in the main parking lot. Assume also that this time is normally distributed with a standard deviation of 2 minutes. What time is exceeded by approximately 75% of the college students when trying to find a parking spot in the main parking lot?

Answer

 

 

3.5 minutes

 

 

5.75 minutes

 

 

6.36 minutes

 

 

9.2 minutes

 

Expert:  Neo replied 2 years ago.
Good day!

Please create new post for these because this is already an old thread.

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