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The owner of TMH Hospital wants to open a new facility in a certain area. He usually builds 25-, 50-, or 100-bed facilities, depending on whether anticipated demand is low, medium or high. On the basis of his past experience, the probabilities of low demand, Medium demand and high demand are estimated as 0.1, 0.4and 0.5 and the short-range payoffs in Rs are calculated as follows.
Demand Acts Build 25 bed Build 50 bed Build 100 bed
Low 30,000 -20,000 -40,000Medium 35,000 50,000 -10,000High 40,000 55,000 75,000
1) What would be the best decision?
2) What is the value of Expected Value of Perfect Information?
f(x)=4x-3 and g(x)=(x+3)/4 a)Find the function fg(x) b)Hence describe the relationship between the functions f and g c)Write down the exact value of fg(sqrt(3))
What is Inductive Reasoning ? Sometimes we draw conclusions based on our observations. If we observe the same results again and again, we conclude that the event always has the
Theorem Consider the subsequent IVP. y′ = p (t ) y = g (t ) y (t 0 )= y 0 If p(t) and g(t) are continuous functions upon an open interval a o , after that there i
a triangle is 180
Example of Probability: Example: By using a die, what is the probability of rolling two 3s in a row? Solution: From the previous example, there is a 1/6 chance of
The boundary of the shaded portion in the adjoining figure consists of our half-circles and two quarter-circles. Find the length of the boundary and the area of the shaded portion
Derivatives The rate of change in the value of a function is useful to study the behavior of a function. This change in y for a unit change in x is
reasons why we use statistics and examples of why?
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If a triangular sail has a horizontal length of 30 ft and a vertical height of 83 ft , Determine the area of the sail? a. 1,245 ft 2 b. 1,155 ft 2 c. 201 ft 2 d. 2,4
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