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Question: A manufacturer must decide whether to extend credit to a retailer who would like to open an account with the firm. Past experience with new accounts indicates that 45% are high-risk customers, 35% are moderaterisk customers, and 20% are low-risk customers. If credit is extended, the manufacturer can expect to lose $60,000 with a high-risk customer, make $50,000 with a moderate-risk customer, and make $100,000 with a low-risk customer. If the manufacturer decides not to extend credit to a customer, the manufacturer neither makes nor loses any money. Prior to making a credit extension decision, the manufacturer can obtain a credit rating report on the retailer at a cost of $2000. The credit agency concedes that its rating procedure is not completely reliable. In particular, the credit rating procedure will rate a low-risk customer as a moderate-risk customer with probability 0.10 and as a high-risk customer with probability 0.05. Similarly, the given rating procedure will rate a moderate-risk customer as a low-risk customer with probability 0.06 and as a high-risk customer with probability 0.07. Finally, the rating procedure will rate a high-risk customer as a low-risk customer with probability 0.01 and as a moderate-risk customer with probability 0.05. Find the strategy that maximizes the manufacturer's expected net earnings.
a random sample of n 9 structural elements is tested for compressive strength. we know that the true mean compressive
You have another $9,000 to invest and want to divide it between an asset with a beta of 1.74 and a risk-free asset. How much should you invest in the risk-free asset?
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Write out the multiple regression equation using the given data.
Explain how you would use these 100 volunteers in a designed experiment to test the vaccine. Include all important details of designing the experiment.
A second experiment on the lens coating discussed in Problem 1 was run to study the effects of both the pH level and the catalyst level on the adhesion. Three levels of pH were studied along with two levels of catalyst. Five mea surements were ta..
a screeding test which measures the level of a prostate specic antigen psa is a commonly used tool for the detection of
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What percent of people surveyed were Republicans?- Do you think this might be a reasonable estimate of the percentage of all voters who are Republicans? Explain.
three contractors call them a b and c bid on a project to build an addition to the uva rotunda. suppose that you
a print shop has three critical machines that essentially deter-mine the productivity of the shop. they are each
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