Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
The Mobile Oil company has recently required oil rights to a new potential scource of natural oil in Alaksa. The current market value of these rights is $90,000. If there is natural oil at the site, it is estimated to be worth $800,000; however, the company would have to pay $100,000 in drilling costs to extract the oil. The company believes there is a .25 probability that the proposed drilling site is actually would hit the natual oil reserve. Alternatively, the company can pay $30,000 to first carry out a seismic survey at the proposed drilling site. The probability of a favorable seismic survey when oil is present at the drilling site is 0.6. The probability of an unfavorable seismic survey when no oil is present is 0.80.
a. What is the probability of a favorabale seismic survey?
b. What is the probability of an unfavorable survey?
c. Construct a decision tree for this problem
d. What is the optimal decision strategy using the EMV criterion?
e. To which financial estimate in the decision tree is the EMV most sensitive?
A survey of 600 non-fatal accidents showed that 251 involved the use of a cell phone. Find a point estimate for p, the population proportion of accidents that involved the use of a cell phone.
Fat acidity is a measure of flour quality that depends on the kind of flour, how the flour has been treated, and how long the flour is stored. In this experiment there are two types of flour (Patent or First Clear);
Testing indicates that the lifetimes of a shipment of disposable butane lighters are normally distributed with a mean of 1000 lights and a standard deviation of 100. What percentage of these lighters will:
in an inertia welding experiment a sample of 50 welds were tested. the sample mean and sample standard deviation of the
48 or fewer will answer the question correctly. What is the z-score that you should look up in the z-table to find the desired probability?
Is there evidence to reject the hypothesis that the apartments are equally distributed between 1-bedroom, 2-bedroom, and 3-bedroom apartments, at alpha = .05?
Provide a descriptive analysis of the two variables (e.g., mean, standard deviation, minimum and maximum).
Would you recommend test- ing H0 : m = 5 versus Ha : m> 5 or H0 : m= 5 versus Ha : m
city a has a mean family income of 65000 with a standard deviation of 2000. it also has proportion unemployed of .1. a
Assuming that these data reflect a random sample of the population of contributions that would be received, compute the sampling error based on the claim made by the consulting firm.
What is the probability that the sum of the dice is 13?
The standard hemoglobin reading for normal males of adult age is 15 g/100 ml. The standard deviation is about 2.5 g/100 ml. For a group of 36 male con- struction workers, the sample mean was 16 g/100 ml. Construct a 95% confidence interval fo..
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd