Probablility game paper Probabilities are computed or assessed in a number of ways. It depends upon what we are in fact considering. If we think about the games we played. Using the 1st game‚ coin flip‚ we have two possible results‚ a head or a tail. Therefore the possibility that a head or a tail comes is 50% or ½. When we have more than a single coin‚ in that case the probability of each side for each coin needs to be taken into account. If you continue to flip the coin more and more the chances
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below it is clear to see that Outcome Node #1 (new product‚ thorough development) has the highest total value‚ at $210‚200‚ across the range of uncertain market outcomes. This is from summing the predicted gains as modified their differential probabilities. #1 New Product‚ Thorough Development P Mkt Reaction Predicted Gains VALUE 0.4 Good $500‚000 $200‚000 0.4 Moderate $25‚000 $10‚000 0.2 Poor $1‚000 $200 TOTAL $210‚200 #2 New Product‚ Rapid Development P Mkt
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cancer)=6501000 ×191000=.01235 No because the probability of living in Laketown and having cancer is not equal to the probability of just having cancer b) P( Living in River City and having cancer)=19-131000-650=.01714<.02(probability of living in Laketown and having cancer). Better to live in River City 2.33 Probability ofr successes in n trials=n!r!(n-r)!×prqn-r The probability of having exactly 3 sales in 4 attempts is 10.29% and the probability of 4 sales in the same number of attempts
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Expected Value of Perfect Information (EVPI) In decision-making under risk ‚ each state of nature is associated with probability of its occurrence ; If the decision-maker can acquire perfect (complete) information about the occurrence of various states of nature ‚ he will be able to select a strategy that yields the desired pay-off for whatever state of nature that actually occurs EMV /EOL criterion helps the decision-maker select a strategy that optimises the expected pay-off without
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DISTRIBUTIONS I. Concept of probability (3%) 1. Explain why the distribution B(n‚p) can be approximated by Poisson distribution with parameter if n tends to infinity‚ p 0‚ and = np can be considered constant. 2. Show that – and + are the turning points in the graph of the p.d.f. of normal distribution with mean and standard deviation . 3. What is the relationship between exponential distribution and Poisson distribution? II. Computation of probability (7%) 1. Let
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can be pursued. There are several outside factors that they must consider in making their decision. The success of the projects depends on the state of the economy. They assume the state of the economy can either RECOVER with probability p or stay WEAK with probability 1-p. They must also consider new Green House Gas (GHG) legislation supported by the Obama administration that would negatively impact SUV sales while positively impacting VOLT sales. SPORT sales are not expected to be affected
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1. INTRODUCTION 1.1 Company Profile Toyota Motor‚ the world’s largest automotive manufacturer (overtaking GM in 2008)‚ designs and manufactures a diverse product line-up that includes subcompacts to luxury and sports vehicles‚ as well as SUVs‚ trucks‚ minivans‚ and buses. Its vehicles are produced either with combustion or hybrid engines‚ as with the Prius. Toyota’s subsidiaries also manufacture vehicles: Daihatsu Motor produces mini-vehicles‚ while Hino Motors produces trucks and buses. Additionally
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Mathematics 3CD – Further Examination Practice Questions. 1. [3‚ 3 and 3 = 9 marks] Consider the function i) Show that ii) Determine the domain for which the function is increasing. iii) Given that determine the values of x for which the function is concave downwards. 2. [1‚ 3 and 4 = 8 marks] Consider the functions and i)
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Q1 Let A = Set of boys of XII Class in some school. Let a R b‚ if and only if a and b use unfair means in the exam‚ a‚b A (i) Is R a transitive relation? (ii) Should a student use such means? If not why Q2 There are two families P and Q . There are 3 men‚ 3 women and 12 children in family P and 2men‚ 2 women and 4 children in family Q. The recommended daily allowance for calories is : Man : 2400‚ woman : 2000‚ child : 1400 and
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Waiting line management: unit 11. The waiting line is a list of customers who remains waiting for getting certain goods or services from service center. Understanding waiting lines or queues and learning how to manage them is one of the most important areas in operation management. In organizations or in personal life‚ there are examples of processes which generates waiting lines or queues. Such waiting lines occur because the current services facility is insufficient to provide service at that
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