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Question: When we used Bayes' theorem to update the probabilities that eKnow would be a Success, Potential, or Failure by counting the number of Definitely-Purchase responses at the National Book Conference, we showed the impact of counting 18 Definitely-Purchase responses in the first hour. Now, suppose that in the second hour you counted 17 Definitely-Purchase responses.
a. Use Bayes' theorem a second time to update the posterior probabilities that incorporate the 18 Definitely-Purchase responses.
b. Suppose you did not have time to update the equal probability values of 1/3, 1/3, 1/3 for Success, Potential, and Failure after the first hour. Starting with these equal probability values, show that having 35 Definitely-Purchase responses in two hours produces the same updated probabilities as computing the updated probabilities after each hour.
In our story of Tom, the student confronted with a Webdesign assignment, we emphasized the great urgency of his desire for Web tutoring.
Show that the average travel time per person is minimized if 2,000 people travel by road. This is known as the "system optimal" scenario. What percent worse than system optimal is the user-optimal scenario?
Let X1 and X2 be surfaces. The connected sum of X1 and X2 is the surface X1#X2 obtained by deleting the interior of a closed discs D1 ⊂ X1 and D2 ⊂ X2 and identifying the resulting boundary circles ∂D1 and ∂D2 via some homeomprphism between them
Use the pattern in (b) to trace the effects of increasing the requirement by 10 percent. How will the optimal mix change? How will the optimal cost change?
A 90-room motel has an average room rate of $65.60. Its fixed costs are $300,000 a year, and its variable costs total $476,000 at an average occupancy of 70%.
Five sorority sisters plan to attend a social function. Each requires hair styling and fitting for a gown. Assume that the times required are independent.
a sunco oil produces oil at two wells. well 1 can produce as many as 150000 barrels per day and well 2 can produce as
Refer to Problem. Suppose the study period has been coterminated at 10 years. Use the imputed market value technique and determine.
Taking Discounts Universal Technologies, Inc. has identified two qualified vendors with the capability to supply some of its electronic components.
A local newsletter is printed on a printer with a cartridge that may break or run out of ink during operation. The cartridges can be replaced for $7.50.
1.1. Write a program that will find the maxima of the following function using Golden section search algorithm starting from xl = -4 and xu = 1. Your function should take xl , xu, and number of iterations as input parameters. Also plot the graph e..
What is the expected value of operations when constant growth begins?
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