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Question: Your boss has asked you to work up a simulation model to examine the uncertainty regarding the success or failure of five different investment projects. He provides probabilities for the success of each project individually: p1 = 0:50, p2 = 0:35, p3 = 0:65, p4 = 0:58, p5 = 0:45. Because the projects are run by different people in different segments of the investment market, you both agree that it is reasonable to believe that, given these probabilities, the outcomes of the projects are independent. He points out, however, that he really is not fully confident in these probabilities and that he could be off by as much as 0.10 in either direction on any given probability.
a. How can you incorporate his uncertainty about the probabilities into your simulation?
b. Now suppose he says that if he is optimistic about the success of one project, he is likely to be optimistic about the others as well. For your simulation, this means that if one of the probabilities increases, the others also are likely to increase. How might you incorporate this information into your simulation?
Write c = (-1 + v5)/2 and consider the network in Figure with upper bounds of con V1V2, 1 on V3V6, con V4V6 and large upper bounds on the remaining arcs.
A new automotive "dry paint" separation process is environmentally friendly and is expected to save $8.00 per car painted at a Detroit plant.
You have all come across this sort of party trick: Think of a number. Add 3. Double it. Add 4. Take away the number you first thought of. Take away.
Samples of size 20 are drawn from lots of 100 items, and the lots are rejected if the number of defectives in the sample exceeds 2.
Describing Using a graphic organizer similar to the one below, describe the determinants of market demand.
Moving Average. Suppose two initial numbers are given and successive numbers are computed as the average of last two. For example, with 1 and 3, we generate.
Most of us have a hard time assessing probabilities with much precision. For instance, in assessing the probability of rain tomorrow.
A can in the shape of a right circular cylinder is to be made to hold 1 L of oil. Find the dimensions of the can that will minimize the cost of the metal to manufacture the can.
A company makes two types of antihistamine formulations: one for daytime use and one for nighttime use. The net profit for the daytime formulation is 20 cents per pill and the net profit for the nighttime formulation is 25 cents per pill.
Can we claim that a new, less expensive process yields the same breakage rate if we find that in a sample of 80 rods produced by the new process, 27 rods broke when subjected to that load? (Use a = 5%.)
Question 1: When comparing two population means with an unknown standard deviation you use a t test and you use N-2 degrees of freedom.
Consider the differential equation for mass-spring-damper system as shown: d2x/dt2 + 2γ(dx/dt) + k2x = 0. Write the second order ODE as a system of first order ODEs
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