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# This Question is for Neo! Are you there? Customer

Customer Question
This Question is for Neo! Are...
This Question is for Neo!
Are you there?
Customer
Submitted: 6 years ago.Category: Homework
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1/15/2012
Tutor: Neo, Tutor replied 6 years ago
Neo, Tutor
Category: Homework
Satisfied Customers: 12,101
Experience: BS Accounting
Verified
Good day!

Yes; I am online.

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

Customer reply replied 6 years ago
I am not sure if the system will let me copy and paste.
Tutor: Neo, Tutor replied 6 years ago

If it cannot be copied, please take a snapshot.

Customer reply replied 6 years ago
Neo, I'm not sure how to take a snapshot.
Tutor: Neo, Tutor replied 6 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 reply replied 6 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?

Tutor: Neo, Tutor replied 6 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 reply replied 6 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?

Tutor: Neo, Tutor replied 6 years ago
Unfortunately, I do not have any idea of the questions as well.

Can they be highlighted?

Customer reply replied 6 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?
Tutor: Neo, Tutor replied 6 years ago
Unfortunately, I have none.

Customer reply replied 6 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>
Tutor: Neo, Tutor replied 6 years ago
That's ok. I am still available by then.

Customer reply replied 6 years ago

Thanks you so much.

I will return at 10:30am

Tutor: Neo, Tutor replied 6 years ago
Ok. :)

Customer reply replied 6 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>
Tutor: Neo, Tutor replied 6 years ago
Ok.

Customer reply replied 6 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.

Tutor: Neo, Tutor replied 6 years ago
Would you like to ask this question?
Neo, Tutor
Category: Homework
Satisfied Customers: 12,101
Experience: BS Accounting
Verified
Customer reply replied 6 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.)

 80 83 90 93
• 1. The chi-square test is a statistical test to see if an observed data fit a _________.

 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.

 0.195 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:

Tutor: Neo, Tutor replied 6 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 reply replied 6 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:

 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.)

 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 _________.

 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.

 0.195 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:

Tutor: Neo, Tutor replied 6 years ago

I mean new question page.

Customer reply replied 6 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?

 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.

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.

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?

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?

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.

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

Tutor: Neo, Tutor replied 6 years ago
I am very sorry. I do not think I can answer all the remaining qestions.

Please create new posts just like before.

Customer reply replied 6 years ago
Where are you?
Tutor: Neo, Tutor replied 6 years ago

I am here.

Please create new posts just like before.

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

Customer reply replied 6 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 reply replied 5 years ago

Good Afternoon Neo,

Are you available?

Customer

Tutor: Neo, Tutor replied 5 years ago
Good day!

Please let me know the subject.

Customer reply replied 5 years ago

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

thanks

Tutor: Neo, Tutor replied 5 years ago
Unfortunately, I will be available only for the next 30 minutes. :(

Customer reply replied 5 years ago

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

Thanks

Customer

Tutor: Neo, Tutor replied 5 years ago

It's EST, right?

I will be available by then.

Customer reply replied 5 years ago

Yes,

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

Tutor: Neo, Tutor replied 5 years ago

No problem. :)

Customer reply replied 5 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.

 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?

 3.5 minutes 5.75 minutes 6.36 minutes 9.2 minutes

Tutor: Neo, Tutor replied 5 years ago
Good day!

Neo, Tutor
Category: Homework
Satisfied Customers: 12,101
12,101 Satisfied Customers
Experience: BS Accounting

Neo is online now

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