Login

Contact Us
Homework
Homework Questions? Ask a Tutor for Answers ASAP
Not a Homework Question?
How JustAnswer Works:
Ask an Expert
Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
Get a Professional Answer
Via email, text message, or notification as you wait on our site.
Ask follow up questions if you need to.
100% Satisfaction Guarantee
Rate the answer you receive.
Ask Scott Your Own Question
Scott
,
MIT Graduate
Category:
Homework
Satisfied Customers:
3040
Experience:
MIT Graduate (Math, Programming, Science, and Music)
3546829
Type Your Homework Question Here...
Scott is online now
RA rfb
Customer Question
If two events are not mutually exclusive, then P(A or B) = P(A) + P(B)
Answer True
False .
2 points
Question 2
Probability trees are used only to compute conditional probabilities.
Answer True
False .
2 points
Question 3
Seventy two percent of all observations fall within 1 standard deviation of the mean if the data is normally distributed.
Answer True
False .
2 points
Question 4
The maximin approach involves choosing the alternative with the highest or lowest payoff.
Answer True
False .
2 points
Question 5
The Hurwicz criterion is a compromise between the minimax and minimin criteria.
Answer True
False .
2 points
Question 6
The minimin criterion is optimistic.
Answer True
False .
2 points
Question 7
The equal likelihood criterion assigns a probability of 0.5 to each state of nature.
Answer True
False .
2 points
Question 8
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
The chisquare 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
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
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 and for slow business is .60, the expected value of perfect information is:
Answer
12
55
57
69
.
2 points
Question 12
The maximin criterion results in the
Answer
minimum of the maximum payoffs
maximum of the maximum payoffs
maximum of the minimum payoffs
minimum of the minimum payoffs
.
2 points
Question 13
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
.
2 points
Question 14
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.
.
2 points
Question 15
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
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
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 18
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
Consider the following decision tree.
What is the expected value for the best decision? Round your answer to the nearest whole number.
Answer .
2 points
Question 20
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
Compute the expected value of perfect information assuming that the probability of S2 is equal to 0.4.
Answer .
2 points
Save and Submit
Submitted:
4 years ago.
Category:
Homework
Share this conversation
Expert:
Steve
replied 4 years ago.
hI,
Can you upload the file? (i do not see some symbols)
Thanks
Steve
Ask Your Own Homework Question
Expert:
Steve
replied 4 years ago.
You can upload any file using
www.mediafire.com
Upload the file, share it and place the download link here
Steve
Ask Your Own Homework Question
Customer:
replied 4 years ago.
did you get it
Expert:
Steve
replied 4 years ago.
No, i can´t see any link to downlaod the file
Go to www.mediafire.com (is free)
Upload the file
Share it and place the download link here
Tell me if you have any doubt about it
Thanks
Steve
Ask Your Own Homework Question
Share this conversation
JustAnswer in the News:
Askadoc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses workfromhome jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
What Customers are Saying:
Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.
Mary C.
Freshfield, Liverpool, UK
<
Previous

Next
>
Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.
Mary C.
Freshfield, Liverpool, UK
This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!
Alex
Los Angeles, CA
Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.
GP
Hesperia, CA
I couldn't be more satisfied! This is the site I will always come to when I need a second opinion.
Justin
Kernersville, NC
Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around.
Esther
Woodstock, NY
Thank you so much for taking your time and knowledge to support my concerns. Not only did you answer my questions, you even took it a step further with replying with more pertinent information I needed to know.
Robin
Elkton, Maryland
He answered my question promptly and gave me accurate, detailed information. If all of your experts are half as good, you have a great thing going here.
Diane
Dallas, TX
Meet The Experts:
LogicPro
Engineer
Satisfied Customers:
4925
Expert in Java C++ C C# VB Javascript Design SQL HTML
<
Last

Next
>
http://ww2.justanswer.com/uploads/ComputersGuru/20100213_051118_Photo41.JPG
LogicPro's Avatar
LogicPro
Engineer
Satisfied Customers:
4925
Expert in Java C++ C C# VB Javascript Design SQL HTML
http://ww2.justanswer.com/uploads/BU/BusinessTutor/201222_115741_Kouki2.64x64.jpg
Manal Elkhoshkhany's Avatar
Manal Elkhoshkhany
Tutor
Satisfied Customers:
4538
More than 5000 online tutoring sessions.
http://ww2.justanswer.com/uploads/LI/lindaus/2012610_04811_IMG20120609164157.64x64.jpg
Linda_us's Avatar
Linda_us
Finance, Accounts & Homework Tutor
Satisfied Customers:
3138
Post Graduate Diploma in Management (MBA)
http://ww2.justanswer.com/uploads/chooser77/20090818_162025_Chris.jpg
Chris M.'s Avatar
Chris M.
M.S.W. Social Work
Satisfied Customers:
2602
Master's Degree, strong math and writing skills, experience in oneonone tutoring (college English)
http://ww2.justanswer.com/uploads/JawaadAhmed/2009627_12137_SIs_SHadi.jpg
F. Naz's Avatar
F. Naz
Chartered Accountant
Satisfied Customers:
2126
Experience with chartered accountancy
http://ww2.justanswer.com/uploads/JK/jkcpa/2011116_182614_jkcpa.64x64.jpg
Bizhelp's Avatar
Bizhelp
CPA
Satisfied Customers:
1887
Bachelors Degree and CPA with Accounting work experience
http://ww2.justanswer.com/uploads/avremote/photoa.jpg
Seanna's Avatar
Seanna
Tutor
Satisfied Customers:
1781
3,000+ satisfied customers, all topics, A+ work
Related Homework Questions
Question
Date Submitted
I NEED TO USE THIS FORMULA, HOWEVER, I ALSO NEED TO ADD; IF
6/29/2016
6/29/2016
GLENN
Dealine is today, 10pm CST
6/26/2016
6/27/2016
LogicPro
A $40,000, 15 percent, 180day note, dated July 8 is
6/26/2016
6/26/2016
F. Naz
Cumulative Exam Part 1 of 7  Know Law 40 multiple am
6/25/2016
6/27/2016
Chris M.
University of Phoenix Material Linux® Script Worksheet To:
6/24/2016
6/26/2016
Russell H.
The United States Drug Enforcement Agency suspected that
6/23/2016
6/27/2016
Donna Kakonge
I need help with Penn exam 061579 financial accounting the
6/22/2016
6/23/2016
Manal Elkhoshkhany
I have 10 questions on Economics
6/21/2016
6/21/2016
GLENN
I am having issues doing the right... I am having issues
6/21/2016
6/21/2016
Russell H.
Is there anyone who can help me with questions 13 of this
6/21/2016
6/25/2016
Raj
X
Ask a Tutor
Get a Professional Answer. 100% Satisfaction Guaranteed.
25 Tutors are Online Now
Type Your Homework Question Here...
characters left: