ticket‚ d2 0 0 Payoff Table a.) A realistic estimate of the chances of winning is 1 in 250‚000. approach to recommend a decision. Use the expected value Answer: Given: Realistic estimate of the probability of winning: 0.000004 (1/250‚000) Realistic estimate of the probability of losing : 0.999996 (1- 0.000004) Thus‚ the expected values for the two decision alternatives are: EV(d1) = 0.000004(300‚000) + 0.999996(-2) = 1.2 + (-1.999992) = -0.799992 EV(d2) = 0.000004(0) + 0.999996(0)
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University of South Florida Scholar Commons Graduate School Theses and Dissertations Graduate School 6-1-2008 Detecting financial statement fraud: Three essays on fraud predictors‚ multi-classifier combination and fraud detection using data mining Johan L. Perols University of South Florida Follow this and additional works at: http://scholarcommons.usf.edu/etd Part of the American Studies Commons Scholar Commons Citation Perols‚ Johan L.‚ "Detecting financial statement fraud: Three essays on
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Addis Ababa University College of Business and Economics MBA Program Case Assignment Course Title: - Statistical Decision Theory Instructor’s Name: - Dr. Yitibarek T. Submitted by: - 1. Leul Wondemeneh GSR/2024/06 Submission Date: - December 06‚ 2013 CASE TITLE: BROCKWAY AND COATES Given – Part A 1. Sales forecast – (at $ 30 retail price with the assumption of $15 whole sale price) a. 400‚000 copies – 40% chance; b. 1‚000‚000 copies – 30% chance; c. 100‚000 copies
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Sampling Techniques Worksheet For each description of sampling‚ decide if the sampling technique is A. Simple Random B. Stratified C. Cluster D. Systematic E. Convenience 1. In order to estimate the percentage of defects in a recent manufacturing batch‚ a quality control manager at Intel selected every 8th chip that comes off the assembly line starting with the 3rd‚ until she obtains a sample of 140 chips. 2. In order to determine the average IQ of ninth-grade students‚ a school psychologist
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What is the probability that at least two students were born on the same day of the year? For simplify the math‚ without changing the result significantly‚ let’s assume that year is always 365 days long (no February 29 birthdays) and let’s assume that a person has an equal chance of being born on any day of the year‚ although some birthday may be slightly more likely than others. If the students are 366 the probability would be equal to 1. If there is just 1 student the probability would be
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discrepancies. During the discovery phase of the lawsuit‚ when both side submit all of the information they have to each other‚ the insurance company hired an independent CPA firm to calculate the GPF. To determine fraud‚ our group had to find the probability that a standard normal random variable exceeded the GPF samples given to us. We used the entire data set of 3‚005 invoices as the population‚
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made to high-risk borrowers. What is the probability that a high-risk borrower will default? 2. A fund manager is considering investing in the stock of a healthcare provider. The manager’s assessment of probabilities of the rates of return on this stock over the next year is summarized in the table below. |Rate of return |Less than -10% |-10% to 0% |0% to 10% |10% to 20% |More than 20% | |Probability |0.04
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measured in each. Assuming that the tobacco company’s claim is true‚ what is the probability that the mean tar content of the sample is greater than 4.15 milligrams? [0.00621] 2. The safety limit of a crane is known to be 32 tons. The mean weight and the standard deviation of a large number of iron rods are 0.3 ton and 0.2 ton respectively. One hundred rods are lifted at a time. Compute the probability of an accident. [0.1587] 3. A soft –drink vending machine is
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briefly considers stabbings alone. Each of these murders is an individual crime that cannot be predicted. It may appear strange‚ but this very randomness means that the overall pattern of murders is‚ in some ways‚ quite predictable. Using some basic probability theory‚ and assuming that the level of violence remains the same‚ we can answer the questions coming out of the two stories given above: first‚ four murders in a day is unusual but not extraordinary. We would expect it to occur around once every
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Omkar & Yaying Wednesday 5-6pm WEEK 3 BES PASS Descriptive Statistics Population - a set of all possible observations. Sample - a portion of a population. We often use information concerning a sample to make an inference (conclusion) about the population. Parameter - describes a characteristic of the population‚ eg: the population variance Statistic- describes a characteristic of a sample‚ eg: the sample variance Frequency Distribution and Histograms Class - a collection of
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