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Find out the utility and the ratio of utility. 1. If the payoff from outcome A is twice the payoff from outcome B, then the ratio of these utilities will be
a. . 2 to 1.b. less than 2 to 1.c. more than 2 to 1.d. unknown without further information.
2. A decision maker has chosen 0.4 as probability for which he cannot choose between a certain loss of 10,000 and the lottery p(-25000) + (1-p)(5000). If the utility of -25,000 is 0 and of 5000 is 1, then the utility of -10,000 is
a. .5b. .6c. .4d. 4
Determine Probability using exponential distribution.The average time between failures of a laser machine is exponentially distributed with the mean of 40,000 hours.
Solve different inventory control problems using an appropriate OR method.
The following data from a sample of 100 families show the record of college attendance by fathers and their oldest sons: in 22 families, both father and son attended college; in 31 families, neither father nor son attended college; in 12 families,..
For a population with a mean of μ = 50 and a standard deviation of σ = 10, how much error, on average, would you expect between the sample mean (M) and population mean for:
Employees of a local university have been classified according to gender and job type. The following table provides data about the employees.
What is the P-value of the test, assume the standard deviation is 3 years, a 95% confidence interval for the average time
Determine the Midrange. Determine the Standard Variance. Determine the Standard Deviation
The City Transit Authority plans to hire 8 new bus drivers. From the group of 100 qualified applicants, of whom 55 are men and 45 are women, 8 names are to be selected by lot. Suppose that Mary and John Lewis are among the 100 qualified applicants..
Two types of flares are tested for their burning times (in minutes) and sample results are given below.
The number of customers at a specialty meat store averages about 1500/day. The exact number varies from day to day. On Fridays before long weekends, the number of customers increases to about 3000. Which of the following statements is correct
Subjects at both sites were classified as dropouts if they left the study before the conclusion, or completers if they finished the study
Calculate the coefficient of skewness and coefficient of variation of minutes spent commuting. What do these statistics tell us?
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