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A pharmaceutical company is in the process of developing a new drug. The development is planned in two stages. The first stage costs one million dollars, and the second stage costs two million dollars. If the development is successful it will result in revenues of five million dollars. All dollars are in present value, and discounting is not necessary. The chance of successful development is 72%. If the development effort is a failure, there would be no revenue, and all the investment will be a loss. The company has the option not to develop the new drug.
Draw a decision tree to model this problem. Solve the problem by rolling back the tree.
The company has the option of conducting a test at the end of the first phase, at a cost of $250,000. There is an 80% chance that the drug passes the test, and a 20% chance that the drug fails the test. If the drug passes the test there is a 90% chance that it will be a success and a 10% chance it will be a failure. Draw a decision tree including the test option. Solve the decision tree by rolling back the tree.
Compare the results for 1 and 2, and debate if testing improves the company's decision-making ability.
Find an equation of the tangent line to the curve y(x) = (9/(sin(x)cos(x))+(3sin(x)/(sec(x)cos(x)) at the point (1/5 Pi, y(1/5 Pi))
Water is poured into a container that has a leak. The mass m of the water is given as a function of time t by m = 4.8t0.8 - 3.1t + 19, with t ≥ 0, m in grams, and t in seconds.
The correlation between Age Score and External is more significant than the correlation between Age Score and Competence. True or False?
A bank loan officer rates applicants for credit. The ratings are normally distributed with a mean of 200 and a standard deviation of 40. If 36 different applicants are randomly selected, calculate the probability that their mean above 208.
Find the hydrostatic force (in lb) on one end of the tank if it is filled to a depth of 8 ft with gasoline. Assume the gasoline's weight density is 420lbft3 (In British units, "weight density" is the equivalent of g in SI units.)
I was one-tenth of a mile from the intersection, while she was three-twentieths of a mile from it. How fast were we approaching each other at that instant?
A large cube is 2 feet on each edge. How many cubes - one inch on each edge- will it take to fill the large cube? If the base of a triangle is increased by 20% and the altitude to that base is decreased by 40% then by what percent is the area chang..
An airplane is flying on a bearing of 265 degrees at 420 kmph. A wind is blowing with a bearing of 170 degrees at 20 mph. Find the actual speed and direction of the plane.
At a large department store, the average number of years of service was 13.5 with a standard deviation of 6.2 years. If an employee is picked at random, what is the probability that the employee has worked for the company between 8 and 20 years?
Write the expression in the standard form a + b i. First convert to rectangular form--- calculate the magnitude-- find reference angle--then the argument of z---
a trough is 10 feet long and its ends have the shape of isosceles triangles that are 3 feet across at the top and have a height of 1 foot. if the trough id being filled with water at a rate of 12ft3/min, how fast is the water level rising when the..
Using the same data conduct a correlation analysis using SPSS or Excel. What is the correlation coefficient? Is it a strong, moderate or weak correlation? Is the correlation significant or not? If it is what does that mean?
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