Question 3: Suppose that life has three periods: youth, middle age, and old age. In every periodyou decide whether to do drugs (“hit”) or not ("refrain"). The utility of hitting depends onwhether you are addicted ("hooked") or not. If you are not hooked, the utility from hitting is 10 and theutility from refraining is 0. If you are hooked, the utility from hitting is -8 and the utility from refraining is-25. In youth, you are not hooked; after that, you are hooked just in case you hit in the precedingperiod. Assume 8 = 1 and ẞ = 0.5. What do you do if you are:A. Time consistent.B. Time inconsistent but naïve.C. Time inconsistent but sophisticated.(Hint: write out all possible choices and calculate utility overall possible choices)

Optimal Decisions for Each Scenario:A. Time Consistent:A time-consistent person maximizes the total…

Answered: A. Time consistent. B. Time…

Linear Algebra: A Modern Introduction

4th Edition

ISBN:9781285463247

Author:David Poole

Publisher:David Poole

Chapter2: Systems Of Linear Equations

Section2.4: Applications

Problem 2EQ: 2. Suppose that in Example 2.27, 400 units of food A, 500 units of B, and 600 units of C are placed...

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2. Suppose that in Example 2.27, 400 units of food A, 500 units of B, and 600 units of C are placed in the test tube each day and the data on daily food consumption by the bacteria (in units per day) are as shown in Table 2.7. How many bacteria of each strain can coexist in the test tube and consume all of the food? Table 2.7 Bacteria Strain I Bacteria Strain II Bacteria Strain III Food A 1 2 0 Food B 2 1 3 Food C 1 1 1
Repeat Example 5 when microphone A receives the sound 4 seconds before microphone B.
Question 2 The past records of a supermarket show that its customers spend an average of $65 per visit at this store. Recently the management of the store initiated a promotional campaign according to which each customer receives points based on the total money spent at the store, and these points can be used to buy products at the store. The management expects that as a result of this campaign, the customers should be encouraged to spend more money at the store. To check whether this is true, the manager of the store took a sample of 12 customers who visited the store. The following data give the money (in dollars) spent by these customers at this supermarket during their visits. 88 69 141 28 106 45 32 51 78 54 110 83 Assume that the money spent by all customers at this supermarket has a normal distribution. Using the 5% significance level, can you conclude that the mean amount of money spend by all customers at this supermarket after the campaign was started is more than $65?
question 10 Advertising You are the marketing director for a company that manufactures bodybuilding supplements and you are planning to run ads in Magazine A and Magazine B. Based on readership data, you estimate that each one-page ad in Magazine A will be read by 575,000 people in your target group, while each one-page ad in Magazine B will be read by 275,000 people in your target group. You would like your ads to be read by at least 5 million people in the target group, and, to ensure the broadest possible audience, you would like to place at least four full-page ads in each magazine during the year. Draw the feasible region showing how many pages you can purchase in each magazine. Find the corner points of the region. (Place Magazine A on the x-axis and Magazine B on the y-axis.) Find the corner points of the region. (Order your answers from smallest to largest x, then from smallest to largest y. If an answer does not exist, enter DNE. Round each coordinate to the nearest whole…
Question #1 A venture capitalist, willing to invest $1,000,000, has three investments to choose from. The first investment, a software company, has a 5% chance of returning $8,000,000 profit, a 30% chance of returning $1,000,000 profit, and a 65% chance of losing the million dollars. The second company, a hardware company, has a 15% chance of returning $3,000,000 profit, a 50% chance of returning $1,000,000 profit, and a 35% chance of losing the million dollars. The third company, a biotech firm, has a 20% chance of returning $7,000,000 profit, a 25% of no profit or loss, and a 55% chance of losing the million dollars. Order the expected values from smallest to largest.
question 2 Hiring workers A company payshis skilled workers S15 per hour in his departmentassembly tool. semi-skilled workersin that department they earn S9 per hour To the employeestwo of shipments are paid SIO per hour Because of aincrease in orders, the company needs to contractemploy a total of 70 workers in the departments ofassembly and shipping Will pay a total of $760 per hourto these employees. Because of a contract with the unionlaw, twice as many semi-semi-workers should be employed.lified than skilled workers. How manysemi-skilled workers, skilled workers and employees ofshipments should hire the company? Note: Solve by Inverse-Excel # OF SEMI-SKILLED WORKERS # OF SKILLED WORKERS # OF SHIPPING WORKERS
Question 4a. A large accountancy firm finds that over the long run 10% of its statements for clients are in error in some way. A quality assurance officer at the firm investigating the source of the errors takes a sample of 20 statements produced by a single employee and classifies each as being “in error” or “not in error”.i. If the variable X is used to represent the number of statements in the sample that are in error, and assuming the error rate is the firm’s level of 10% then state:• the type of distribution this variable has; and• the parameter/s of this distribution. ii. Determine the probability that 2 or less returns in this sample are in error. The quality assurance officer found that there were 5 statements in the sample that were in error.iii. Determine the probability of finding 5 or more returns in error if indeed the error rate was 10%. iv. Based upon your answer for part iii., what conclusion might the quality assurance office make about this employee in terms of the…
QUESTION 1 At Snead State Community College, students earn four quality points per semester hour for each A, three quality points per semester hour for each B, two quality points per semester hour for each C, and one quality point per semester hour for each D, while F's earn zero quality points. If a student has earned 21 semester hours of A's, 18 semester hours of B's, 18 semester hours of C's, 3 semester hours of D's and 9 semester hours of F's, what is his/her GPA? (ROUND YOUR ANSWER TO 2 DECIMALS)
Question 3 Hermie's average 5-day natural gas usage rate is 5.9Therms5days . What are her 1-day, and 8-day, natural gas usage rates? 1.18Therms1day,7.375Therms8days 0.7375Therms1day,9.44Therms8days 1.18Therms1day,9.44Therms8days 0.7375Therms1day,7.375Therms8days
QUESTION 5 A country club wants to exam the effects of a new marketing campaign that attempts to get more people within the community to become members. In many communities, when people buy a house in the area, they receive a “Welcome Wagon” gift basket containing coupons to local restaurants. The idea of the marketing campaign is to include a free two month membership to the country club in the gift basket with the hope that once “new” residents try the country club then at least a certain proportion will want to become real members. One member of the Club’s Executive Council believes that at least 80% of the people who receive the coupons for the free membership will use the coupon. In a sample of 197 new residents who received the coupon for the two month free membership, there were 136 people who actually took advantage of the free two month membership. When testing the hypothesis that at least 80% of the people that receive the coupon actually use it, what is the test statistic?…
Question 6 The revenue per month earned by the Couture clothing chain at time tis R(t) = N(t)S(t), where N(t) is the number of stores and S(t) is the average revenue per store per month. Couture releases a statement to their investors saying that currently they have 50 stores with a total revenue of $7,500,000 and expect to increase the number of stores by about 2 stores per month and increase total revenue by about $250,000 per month. What does this statement imply about the current rate of change of the average revenue per store per month?
Question 37 Twelve dogs from each of four different breeds (basenji, shetland sheepdog, wire-haired fox terrier, and beagle) participated in obedience training. At the end of the training, each animal was taken into a room with the handler and a bowl of meat. The dog was hungry, but the handler prevented it from eating for three minutes by squirting the animal with a water bottle and saying “No!” After this period of restraint, the handler left the room, and the length of time it took the dog to begin to eat the meat was recorded. Was the time taken to eat significantly different for different breeds? which of the fllowing is the correct design negotiation CR-2 CR-3 CR 4 CR 5 or CR 25

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A. Time consistent. B. Time inconsistent but naïve. C. Time inconsistent but sophisticated. (Hint: write out all possible choices and calculate utility overall possible choices)