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Shamrock Oil owns a parcel of land that has a potential to be an underground oil field. It will cost $500,000 to drill for oil. If oil does exist on the land, Shamrock will realize a profit of $4,000,000 (not including drilling costs). With current information, Shamrock estimates that there is a 0.2 probability that oil is present on the site. Shamrock also has the option of selling the land as is for $4,000,000, without further information about the likelihood of oil being present. A third option is to perform geological tests at the site, which would cost $100,000. There is a 30% chance that the test results will be positive after which Shamrock can sell the land for $650,000 or drill the land, with a 0.65 probability that oil exists. If the test results are negative, Shamrock can sell the land for $50,000 or drill the land, with a 0.05 probability that oil exists. Using a decision tree, recommend a course of action for Shamrock Oil.
If expected demand for new miracle cleaner is 300,000 units, illustrate what would you recommend that Gabriela Manufacturing do.
Did your marketing research present surprising facts or did it provide validation for your assumptions? Was research important? Why?
List 3 main types of forecasting techniques and then by choosing ONE forecasting method describe in 3-4 sentences how the method is used, data needed to run it and some example of real world applications for the method.
Merit pay increases should reflect prior job performance levels and motivate employees to perform their best. How does this relate to Equity Theory?
Describe the type of hospitality industry and its main categories of employees
Write a 350- to 700-word summary of the discussion your team had about preventing security breaches in businesses in Week
From what you have learned from the text and class models, make some suggestions on the results that the organization achieved (or did not achieve). If you would like, go ahead and use one or more of the templates we experimented with as part of y..
Elucidate what should be the optimal batch size (Q) of clay tigers to be produced also shipped to the stores in every order. Keep 4 digits after decimal points in calculations.
ABC Inc. borrowed funds from XYZ LLC to operate its auto parts business. The loan was secured by the molds that were used to form the parts. ABC contracted with FFF to make the parts and provided FFF with the molds. When ABC defaulted on its obligati..
Compute MSE using the most recent value as the forecast for the next period. What is the forecast for month 8? Compute MSE using the average of all the data available as the forecast for the next period.
If a firm's marginal revenue is greater than its marginal cost, then: Select one: a. the firm is maximizing profit. b. more output will add more to revenue than to cost. c. each added unit of output will reduce profits. d. less output will add more t..
1. To start this discussion, briefly list the major measures of disease frequency. Also, state your opinion on the usefulness and practical applications of these concepts. Although, you may not want to list all of them, be sure that you mention those..
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