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AP2 Decision Tree Assignment: Summer 2014 Play now? Play later? You can become a millionaire! That's what the junk mail said. But then there was the fine print: If you send in your entry before midnight tonight, then here are your chances: 0.1% that you win $1,000,000 75% that you win nothing Otherwise, you must PAY $1,000 But wait, there's more! If you don't win the million AND you don't have to pay on your first attempt, then you can choose to play one more time. If you choose to play again, then here are your chances: 2% that you win $100,000 20% that you win $500 Otherwise, you must PAY $2,000 What is your expected outcome for attempting this venture? Solve this problem using a decision tree and clearly show all calculations and the expected monetary value at each node. Use maximization of expected value as your decision criterion. Answer these questions: 1) Should you play at all? (5%) If you play, what is your expected (net) monetary value? (15%) 2) If you play and don't win at all on the first try (but don't lose money), should you try again? (5%) Why? (10%) 3) Clearly show the decision tree (40%) and expected net monetary value at each node (25%)
George has a standard, unendorsed personal auto policy (PAP) with coverage for collision loss( with $ 500.00 deductible) and other than collision loss
What are some management characteristics that help a company maintain competitive advantage through Information Technology and how an organization has or can improve its IT Systems.
What is the break-even quantity in this make-or-buy decision? Please include the formula, at least one step of calculation, and the correct answer for full credit.
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Evaluate the moral quality of DuPont's strategies after 1978 in terms
Currently Wal-Mart operates 92 Supercenters in Deutschland, employing approximately 14,000 employees. Was this a multidomestic strategy, a global strategy, or an international strategy? Discuss.
Company ABC received an order to produce 16 units of a new product. An 80% improvement curve was expected for this project.
Your response should be at least 200 words in length. You are required to use at least your textbook as source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have acco..
Use a five day moving average to forecast the number of bottles that Systembolaget expect to sell during the upcoming week! What is the forecast for the next time period if Systembolaget uses exponential smoothing with a smoothing constant of .2?
Mike is preparting the x-bar chart and the R chart for Uncle Ben's 2lb. box rice packaging line. Using the standard sample size of 9 items. Mike found the average range is .02 lbs and the overal process average is 1.98 lbs.
This should be an enjoyable activity and help you realize the wide number of factors in the retail store that are used to motivate your buying behavior.
Analyze Jill's concerns and Ben's actions in this case. What sexual harassment considerations, if any, apply in this situation?
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