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Two mining companies, Fox and Trot, bid for the right to drill a field. The possible bids are $ 15 Million, $ 25 Million, $ 35 Million, $ 45 Million and $ 50 Million. The winner is the company with the higher bid. The two companies decide that in the case of a tie (equal bids), Fox is the winner and will get the field. Fox has ordered a geological survey and, based on the report from the survey, concludes that getting the field for more than $ 45 Million is as bad as not getting it (assume loss), except in case of a tie (assume win).
(a) Explain what is a saddle point. Verify: does the game have a saddle point?
(b) Construct a linear programming model for Company Trot in this game.
the point of averages of a scatterplot of y against x is 14 1 . the sd of x is 6 and the sd of y is 7. the decimal
What is the chance that you get k wins during the year, approximately? Calculate as a decimal for k = 0, 1, 2.
question the sugar producers association wants to estimate the mean yearly sugar consumption. a sample of 16 people
A problem of aerial search. State conditions for the validity of the following assertion: if N ships are distributed at random over a region of the ocean of are
Let X be the number of heads observed in five tosses of a fair coin. Then, X fair dice are thrown. Let Y be the sum of the numbers showing on the dice. Determine the mean and variance of Y.
What is CPI? Given that the CPI trends for travel time for 2010 and this year are 183.42 and 191.35 respectively, calculate the current value of travel time if it was $24.50 per hour in 2010.
In a random sample of 725 selected for interview from your database of 13,916 customers, 113 said they are dissatisfied with your company's service.
Small Wonder, an amusement park, experiences seasoned attendance. It has collected two years of quarterly attendance data and made a forecast of annual attendance for the upcoming year.
14 machines are planned to be used for a 60-day production run for a customer. The operating time is 1660 hours. Upon failure, a machine must be returned to the manufacturer for repair.
The population are shorter than 66 inches, what is the probability a randomly selected member of this population is between 66 and 76 inches tall?
By looking into this box plot what can you conclude: is this data skewed left, skewed right or it is symmetric
Genetic defect. It's believed that 4% of children have a gene that may be linked to juvenile diabetes. Researchers hoping to track 20 of these children.
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