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I have 3 individual questions related to a class lecture that we had on Payoff Alternatives and Regret. These questions should be VERY simple, and probably take less than 2 minutes to answer... so I believe that one (1) credit is reasonable for the quick answers...
1. Is it true that the payoff at the end of a decision tree represents everything along the path leading to that end?
2. Are the several potential outcomes resulting from a decision called "decision alternatives", or are they called "states" ?
3. For a given event, if the payoffs for alternatives 1, 2, and 3 (the only alternatives) are 50, 125, and -50 respectively, what is the regret associated with alternative 1?
Perform the indicated operation - Find the product. (x 3 - 5x 2 -1) 7x 2
A production center is available for 8 hours a day in a factory. It is comprised of several rotary parts and the worker operating it, is required to lubricate these rotary parts regularly each day.
Create a probability tree showing all marginal, conditional, and joint probabilities.
From the following augmented matrix, first write the system of equations that represents the augmented matrix and then create a real-world word problem that would represent these equations and their unknowns.
Chez Paul is contemplating either opening another restaurant or expanding its existing location. Define Quantitative Methods of Business
A club has 28 members, and 6 members must be selected to make a committee. Of the 28 members, 15 are men and the rest are women. How many ways can the 6 member committee can be selected if there are to be 4 men and 2 women on the committee?
You have just graduated from college, and you have started your first big project at your new job. Your boss informs you that you are responsible for the Equations and Inequalities section of the project and for presenting your ideas to the team.
A man 6 feet tall walks at a rate of 5 feet per second away from a light that is 15 feet above ground . When he is 10 feet from the base of the light,
Which asset would the risk-averse financial manger prefer?
Please explain how to find the equations of the tangent line and the normal line to the graph of the equation at the indicated point and achieve the specified answer.
What is the standard deviation of the number of patients in the sample that will have had a medication error? What is the probability of observing one or more patients who have had medication errors in the same sample?
Flying with the jetstream, the same jet travels 4600km in 4 hours. What is the speed of the jet in still air, and what is the speed of the jetstream?
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