Program acceptance western musical variety

Assignment Help Other Subject

Reference no: EM13307329

A television network has been receiving low ratings for its programs. Currently, management is considering two alternatives for the Monday night 8:00 p.m.- 9:00 p.m. time slot; a western with a well-known star or a musical variety with a relatively unknown husband and wife team. The % of viewing audience estimates depend on the degree program acceptance. The relevant data are as follows:

% of Viewing Audience

Program Acceptance Western Musical Variety

High 30% 40%

Moderate 25% 20%

Poor 20% 15%

The probabilities associated with program acceptance levels are as follows:

Probabilities

Program Acceptance Western Musical Variety

High 0.30 0.30

Moderate 0.60 0.40

Poor 0.10 0.30

a. Using the expected value approach, which program should the network choose?

b. For a utility analysis, what is the appropriate lottery?

c. Based on the lottery in part (b), assume that the network’s program manager has assigned the following indifference probabilities. Based on the use of utility measures, which program would you recommend? Is the manager a risk taker or risk avoider?

Percentage of Audience Indifference Probability (p)

30% 0.40

25% 0.30

20% 0.10

Reference no: EM13307329

Questions Cloud

Find the entropy increase due to this process : A ferromagnetic metal at very low temperatures has a specific heat capacity given by c(T)= zT+yT^3+zT^(3/2). find the entropy increase due to this process

Provide equality of opportunity : 1. Argue for or against the principle that a just society must provide equality of opportunity for those with the interest and talent.

Difference of water between inside and outside the cell : Consider a spherical cell of radius 8 micrometers. The cell is suddenly placed in a solution of pure water. For simplicity, assume that the cell is a 0.15 M NaCl solution and the fluid density inside the cell is 1.005 g/ml. The density of pure water ..

Determine the atomic number of the element : When a certain element is bombarded with high-energy electrons, Determine the atomic number Z of the element.

Program acceptance western musical variety : A television network has been receiving low ratings for its programs. Currently, management is considering two alternatives for the Monday night 8:00 p.m.- 9:00 p.m. time slot; a western with a well-known star or a musical variety with a relatively u..

Determine the photon wavelengths of the first transitions : A hydrogen atom is in the ground state. It absorbs energy and makes a transition to the n = 4 excited state. determine the photon wavelengths of the first transitions

The bundle theory as opposed to the soul theory : What advantages do you see to the bundle theory as opposed to the soul theory and what would giving up the soul theory mean?

What will be the approximate temperature of the alloy : Is it possible to have a copper-silver alloy of composition 50 wt% Ag-50 wt% Cu that at equilibrium, consists of Î± and Î² phases having mass fractions WÎ± = 0.60 and WÎ²=0.40

Find and prove the efficiency class : Find and Prove the Efficiency Class of the following Recurrences. Show your work.

User Account

All Pages