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1. Sun Resorts
Sun Resorts has a hotel on a Caribbean Island. It recently spent money to lobby the government to build a better airport and expand air service. Why did they do this? Do you think that Sun Resorts cares about how many airlines will serve the island? Explain.
2. The following game matrix shows the strategies and payoffs for Billy Corrigan and Eddie Vedder as they consider their concert schedule for Memorial Day. Each performer is headlining a national summer tour. The payoffs are in thousands of dollars.
Eddie Vedder's Strategy
Concert at Target Center
Concert in Chicago
Billy Corrigan's Strategy
Concert at Xcel Center
Billy gets $10
Billy gets $22
Eddie gets $19
Eddie gets $18
Billy gets $28
Eddie gets $34
Eddie gets $20
a. What is the dominant strategy, if any, for Billy Corrigan?
b. What is the dominant strategy, if any, for Eddie Vedder?
c. If there is a Nash equilibrium in the game, describe the Nash equilibrium or Nash equilibria.
Suppose two companies, A and B, that produce super computers. Each can manufacture the next generation super computer for math or for chip research.
At a 0.025 significance level using the critical value approach, test to see if the % error is higher than the industry standard. Clearly state your hypothesis and conclusions.
If a citizen who voted in the last election is randomly selected, what is the probability that they are a Democrat?
Suppose 70% of kids who visit the doctor have a fever, and 15% of kids with a fever have a sore throat. Whats the probability that a kid who goes to the doctor has a fever and a sore throat?
Ashland MultiComm Services (AMS) is a residential telecommunications provider. The AMS technical services department has embarked on a quality improvement program. Its first project relates to maintaining the target upload speed for its Internet s..
You are given the information that P(A) = 0.30 and P(B) = 0.40 (a) Do you have enough information to compute P(A or B)? Explain. (Events A and B are mutually b) If you know that events A and B are mutually exclusive, do you have enough information..
What body weight is considered underweight (defined as in the bottom 10% for body weight)?
One airport had 28% late arrivals. After a new directing system was installed, a sample of 1200 flights had 322 late arrivals. At the .01 level, did the new system lower the rate of late arrivals? List the null and alternate hypotheses.
A sample set of 29 scores has a mean of 76 and a standard deviation of 7. Can we accept the hypothesis that the sample is a random sample from a population with a mean greater than 72? Use alpha = 0.01(1-tail) in making your decision.
Suppose this reliability cannot be met, and the actual median is 20,000. So the company instead implements a preventive maintenance policy with a maintenance cycle of 4,000 hours. What is the new reliability at 10,000 hours?
We find that the carapace length of that adult male G. mollicoma is normally distributed with mean 18.14mm and standard deviation 1.76mm. Determine and interpret the quartiles for carapace length of the adult male G. mollicoma.
What is the accumulated value at t = 30 of a 30 year ordinary annuity that has the first of its annual payments equal to $1000 and subsequent payments increasing by 2% through the 10th payment and equal to $1500 for all the remaining payments? Use..
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