Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
The marketing manager of Handy Foods Ltd. is concerned with the sales appeal of one of the company's present label for one of its products. Market research indicates that supermarket consumers ?nd little appeal in the drab, somewhat cluttered appearance of the label. The company hired a design artist who produced some prototype labels, one of which was chosen consistently as best by the marketing executives. Nevertheless, the marketing executive is still in some doubt as to whether the new label would appreciably bene?t sales. He decides to make further enquiries about the consequences of a decision to switch to a new label. The decision to change to a new label is denoted by D1 and to keep the old by D2.
First he considers the costs associated with converting his company's machinery, inventory, point of purchase displays, etc., to the new label, and estimates that an out-of-pocket, once and for all cost of £250,000 would be involved. If the new label were really superior to the old, the marketing executive estimates that the present value of all net cash ?ows over and above this cost related to increased sales generated over the next three years by the more attractive label will be £400,000. Based on his prior experience and the discussion held with his colleagues, he is only willing to assign a 0.5 probability to the outcome 'new label superior to old', denoted B1. Let B2 denote the event that 'new label is not superior to the old'. Rather than make his decision on these data alone, however, he could delay it and obtain further market research information. The survey is such that it is 'perfect' at a cost of £150,000. The information from the market research survey is shown as either positive (R) or negative ( R) in favour of the new label. Draw a decision tree and decide whether it is worth carrying out market research.
Modern hotels and certain establishments make use of an electronic door lock system. To open a door an electronic card is inserted into a slot. A green light indicates that the doo
Glejser test is the test for the heteroscedasticity in the error terms of the regression analysis which involves regressing the absolute values of the regression residuals for the
Ignorability : The missing data mechanism is said to be ignorable for likelihood inference if (1) the joint likelihood for the responses of the interest and missing data indicators
A directed graph is simple if each ordered pair of vertices is the head and tail of at most one edge; one loop may be present at each vertex. For each n ≥ 1, prove or disprove the
Independent component analysis (ICA) is the technique for analyzing the complex measured quantities thought to be mixtures of other more fundamental quantities, into their fundamen
Bayesian inference : An approach to the inference based largely on Bayes' Theorem and comprising of the below stated principal steps: (1) Obtain the likelihood, f x q describing
How is the rejection region defined and how is that related to the z-score and the p value? When do you reject or fail to reject the null hypothesis? Why do you think statisticians
what are tests for residual with nonconstant variance in regression diagnostic checking?
A radically different approach of dealing with the uncertainty than the traditional probabilistic and the statistical methods. The necessary feature of the fuzzy set is a membershi
Response feature analysis is the approach to the analysis of longitudinal data including the calculation of the suitable summary measures from the set of repeated measures on each
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd