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Given the following decision tree, perform the tasks listed below
1. Simulate the route through the test market and produce results for twenty simulations, calculating the payoff in each case.
2. Calculate the probability that the company should abandon the project without going through the test market, i.e. the probability that a loss will be made on the project if the test market is conducted.
3. Calculate the expected return from the simulated payoff and compare it with the expected payoff based on the decision tree.
4. Advise the company on their choices.
Marci filled her car's gas tank on Monday, and the odometer read 32,461.3 miles. On Friday while the car's odometer read 32,659.7 miles and she filled the car's tank again. It will
Change of base: The final topic that we have to look at in this section is the change of base formula for logarithms. The change of base formula is,
Describe Common Phrases to Represent Math Operations? The table below shows the common phrases used in word problems to represent addition, subtraction, multiplication, and div
An unbiased die is tossed twice .Find the probability of getting a 4,5,6 on the first toss and a 1,2,3,4 on the second toss
Players and spectators enter a ballpark according to independent Poisson processes having respective rates 5 and 20 per hour. Starting at an arbitrary time, compute the probability
All differential equations will doesn't have solutions thus it's useful to identify ahead of time if there is a solution or not. Why waste our time trying to get something that doe
Find The Ratio Of : 2 dozens to a score
Determine the matrix of transformation for the orthogonal projection onto the line L that passes through the origin and is in the direction Û=(3/13 , 4/13 , 12/13). Determine the r
Here, let's take a look at sums of the fundamental components and/or products of the fundamental components. To do this we'll require the following fact. Fact- Undetermined Co
If angle between asymtotes of hyperbola x^2/a^2-y^2/b^=1 is 120 degrees and product of perpendicular drawn from foci upon its any tangent is 9. Then find the locus of point of inte
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