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1. Throughout the chapter we have assessed individual utility functions that range from 0 to 1. What is the advantage of doing this?
2. You are an up-and-coming developer in downtown Seattle and are interested in constructing a building on a site that you own. You have collected four bids from prospective contractors. The bids include both a cost (millions of dollars) and a time to completion (months):
Contractor A
Cost 100
Time 20
B
80
25
C
79
28
D
82
26
The problem now is to decide which contractor to choose. B has indicated that for an- other $20 million he could do the job in 18 months, and you have said that you would be indifferent between that and the original proposal. In talking with C, you have indicated that you would just as soon pay her an extra $4 million if she could get the job done in 26 months. Who gets the job? Explain your reasoning. (It may be convenient to plot the four alternatives on a graph.)
assume every bus in gainesville follows an exponential distribution with a mean of 7.5 minutes. from a bus stop we
Assume that x has a normal distribution, with the specified mean and standard deviation. Find the indicated probabilities.
the thickness of eight pads designed for use in aircraft engine mounts are measured.the measurements are 41.83 42.68
the null hypothesis of an f-test comparing three group means is that all three group means are equal. what is the
A random variable has a normal distribution with ?? = 62.4. Find the standard deviation of the random variable if the probability is 0.20 that it will take on a value greater than 79.2
At the .01 level of significance, is the true mean greater than 10?
Construct a 95 percent confidence interval for the mean number of misspelled words in the population of student essays.
One of the intervals of interest is the interval 60 to 80. Based on the given information, what is the relative frequency for the interval 60 to 80 in this particular class?
a. Find the probability distribution of X, the number of the three regions that have major forest fires in the next dry season. b. What is the probability that none of the areas will have a major forest fire? c. What is the probability that all of th..
the strength of ones immune system can be evaluated in several ways. one of the most popular methods involves measuring
You are estimating the fuel consumption (gallons per mile) for intermediate armored vehicles based on the horsepower of the vehicle. The vehicle for which you are estimating has 4.77 hundred horsepower.
a population of 200 voters contains 78 republicans 120 democrats and 2 independents and members of other parties. a
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