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Question: Ron of RonCo Rain Detectors is considering rolling out his line ofrain-detecting equipment nationwide. Two rollout alternatives are under consideration; national and regional. Ron is uncertain how large the rain-detecting market might be. After speaking with many experts, Ron believes no matter which alternative he chooses, the probability of a Large Market is 0.7 while the probability of a Small Market is 0.3. Ron evaluates the four prospects as follows.
Mark of Mark's Market Testing offers to sell Ron a market detector. If the market will be large, the detector will indicate "Large" 60% of the time. If the market will be small the detector will indicate "Small" 95% of the time. What is Ron's value of clairvoyance (VOC) on the market detector indication? (You may assume that RonCo is risk-neutral for the range of prospects in this problem. Values are rounded to the nearest thousands of dollars.)
a. 15
b. Ron would not buy clairvoyance because he is risk-neutral.
c. 25
d. 0
Estimate the input offset current assuming zero input offset voltage. If the input offset voltagecan be as large as 1 mV of unknown polarity, what range of offset current is possible?
Using the 50%-34%-14% figures, approximately what percentage of people have a score a) above 40 b) above 45 c) above 30 d) below 45 g) below 30.
A manufacturer of athletic footwear claims that the mean useful lifetime of his product will exceed 50 hours. A random sample of 36 pairs of shoes leads to the following sample results, in terms of useful life: x = 52.3 hours and s = 9.6 hours.
Shortest Path Problems with Losses) Consider the shortest path-like problem of Exercise 2.31 where a vehicle wants to go on a forward path from an origin node 1 to a destination node t in a graph with no forward cycles, and for each arc there is a..
1. if the alpha level is changed from a of 0.05 to a 0.01 what happens to the probability of type 1 error ?2.answer the
Find the mean length. Find the median length. Find the range of the lengths. Find the mean deviation of the lengths. Finds the standard deviation of the lengths
What level of confidence is associated with an interval of .400513 to .515487 for the long run proportion of new product placements?
a competency test has scores with a mean of 69 and a standard deviation of 4. a histogram of the data shows that the
suppose we wanted to compare the somatic complaints as shown on a scale known as pss of 3 groups of people non-smokers
Determine the sample mean, median, and mode. Give a cumulative relative frequency plot of these data.
However, besides all the similarities of the two methods, the hypothesis test of the difference between two proportions has two advantages.
a survey was completed and the following two wage classes were used 4 - 7 and 7 - 10. what is the class interval for
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