Simternship Round 2

What other real-world factors might be important to consider in designing the simulation and making a recommendation?

Question One Discuss the risk management process according to Harrington and Niehans (2003) Question Two Avoidance is a risk control technique that can be used to effectively in a risk management program, a) What is the major advantage of using this technique as a risk control measure 0 I Is it possible or practical for a firm to avoid all potential losses? Explain your answer Question Three Discuss the major type of pure risk which is associated with great financial risk Question Four Certain requirement ideally should be fulfilled before a pure risk can be privately insured. Explain the six requirement of an insurable risk Question Five Explain each of the following characteristics of a typical insurance plan. b) C) Pooling of losses Payment of fortuitous losses Risk transfer Indemnification

Previous Problem Problem List Next Problem (1 point) Using diaries for many weeks, a study on the lifestyles of visually impaired students was conducted. The students kept track of many lifestyle variables including how many hours of sleep obtained on a typical day. Researchers found that visually impaired students averaged 9.2 hours of sleep, with a standard deviation of 2.24 hours. Assume that the number of hours of sleep for these visually impaired students is normally distributed. (a) What is the probability that a visually impaired student gets less than 6.4 hours of sleep? answer: (b) What is the probability that a visually impaired student gets between 6.2 and 8.84 hours of sleep? answer: (c) Thirty percent of students get less than how many hours of sleep on a typical day? answer: hours Note: You can earn partial credit on this problem. Preview My Answers Submit Answers You have attempted this problem 0 times. You have unlimited attempts remaining.

Y9

Answer question 79

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Problem 7-09 (Algorithmic) Hawkins Manufacturing Company produces connecting rods for 4- and 6-cylinder automobile engines using the same production line. The cost required to set up the production line to produce the 4-cylinder connecting rods is $1,400, and the cost required to set up the production line for the 6-cylinder connecting rods is $3,100. Manufacturing costs are $15 for each 4-cylinder connecting rod and $18 for each 6-cylinder connecting rod. Hawkins makes a decision at the end of each week as to which product will be manufactured the following week. If a production changeover is necessary from one week to the next, the weekend is used to reconfigure the production line. Once the line has been set up, the weekly production capacities are 6,500 6-cylinder connecting rods and 8,200 4-cylinder connecting rods. Let X4 = the number of 4-cylinder connecting rods produced next week X6 = the number of 6-cylinder connecting rods produced next week S4= 1 if the production line is…

Equine Science Interpreting Scatterplots and Regression Equations 180+ 170- 160 150+ 140 130 120- 110 200 300 400 500 600 700 800 Age in Days An Equine Scientist was interested in horse height (measured to the horse wither in cm) as a young horse aged from 200 to 800 days. She collected the data in the graph above from records on horses she had worked with in the past (shown by the blue dots) and fit a linear regression equation (shown by the red line). According the regression equation, as the age of the horse increases in days. the wither height in cm Select an answer v The age of the horse in days and the wither height in cm are Select an answer The slope of the regression equation is approximately 0.044. interpret the slope by completing the sentence below. As the Select an answer v increases by 1, the Select an answer V increases by The regression equation approximates the wither height by the following formula. Let d = age in days Let W = wither height in cm W = 0.044 -d +…

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Question 3 A frequency distribution is given below: Class A B с D Frequency 7 9 9 Calculate the probability of class C occurring using the Relative Frequency method. Express your answer as an decimal rounded to two (2) decimal places.

Question 2 Mr. Ferdinand is a well known entrepreneur who sells fresh organic beef to persons in the local community. Customers love the quality of meet that Mr. Ferdinand sells so they tend to recommend his product to other persons. Recently, Mr. Ferdinand has been rumning out of beef to sell to his customers. One customer suggests to him that he must use past sales records to forecast demand for his beef so that he can meet his customers demand. Using a numerical example, demonstrate to Mr. Ferdinand how he can use a three- week and a four-week weighted moving average to forecast demand for his beef. I. II. Show how Mr. Ferdinand can test the accuracy of his forecast. III. Explain to Mr. Ferdinand two ways in which he can benefit from doing forecast for his beef. 日正

Only question 1

Are my formulas correct and did I get the correct answer? Question: Sunblessed Juice Company sells bags of oranges and cartons of orange juice. Sunblessed grades oranges on a scale of 1 (poor) to 10 (excellent). At present, Sunblessed has 220,000 pounds of grade 6 oranges and 150,000 pounds of grade 9 oranges on hand. The aver- age quality of oranges sold in bags must be at least 7, and the average quality of the oranges used to produce orange juice must be at least 8. Each pound of oranges that is used for juice yields a revenue of $2.25 and in- curs a variable cost (consisting of labor costs, variable overhead costs, inventory costs, and so on) of $1.35. Each pound of oranges sold in bags yields a revenue of $2.00 and incurs a variable cost of $1.20. a.    Determine how Sunblessed can maximize its profit.

Question 2 Mr. Ferdinand is a well known entrepreneur who sells fresh organic beef to persons in the local community. Customers love the quality of meet that Mr. Ferdinand sells so they tend to recommend his product to other persons. Recently, Mr. Ferdinand has been running out of beef to sell to his customers. One customer suggests to him that he must use past sales records to forecast demand for his beef so that he can meet his customers demand. I Using a numerical example, demonstrate to Mr. Ferdinand how he can use a three- week and a four-week weighted moving average to forecast demand for his beef. II. Show how Mr. Ferdinand can test the accuracy of his forecast. II. Explain to Mr. Ferdinand two ways in which he can benefit from doing forecast for his beef.

Q2

State any three types of simulation.

QUESTION 4 Suppose the following are the seasonal indices for the first three quarters of the year for a quarterly series:  Quarter Seasonal Index Q1 72.4 Q2 85.3 Q3 109.6      Remember that the seasonal indices should average 100 so you should be able to infer the seasonal index for Q4. Furthermore, suppose that the estimated coeffcients from a regression of the deseasonalized series on Time are given below:    Coefficients Intercept 2,506 Time 71.3  If the original value of the series in a Q1 was 2,040, then what is the seasonally adjusted value? (please round your answer to 1 decimal place)

Answer A.3 a-b

88 MULTIPLE CHOICE Question 7 Listen Researchers asked 100 drivers their age and how they listen to music when dri- ving a car. The ages of respondents were categorized into three groups: 16 to 20 years, 21 to 25 years, and 26 to 30 years. The listening methods were radio, CD, or streaming service. The table below shows the data collected. Let event A represent drivers who listen to the radio. What does A represent, and what is P(A)? **HINT** A represents every outcome where A does not occur. Radio CD Streaming Service Total 16 to 20 8 3 15 years old 26 26 21 to 25 13 6 15 34 years old 26 to 30 20 11 9 40 years old 40 Total 41 21 20 10 39 100 A AC: drivers who do not listen to the radio P(A)=- 59 100 B C AC: drivers who listen to the radio P(A)=100 AC: drivers who listen to streaming services P(A)= 39 100

Answer number 33,34 and 35

32 true or false A rational decision will never fail to provide the best and most successful solution to a problem.

Computer Simulation

Q1: Pat Jones is the general manager at Denny’s Muffler, which has 3 locations and 27 employees. Currently, the office manager at 3 stores put input their weekly sales results into a spreadsheet and e-mail that spreadsheet to Pat on Friday by noon. Each week, Pat handles between 120 to 350 records of sales data, and another 100 to 300 records of customer data. Pat would be like to keep track of weekly sales, which customers are associated with each sale, the parts used for each sale, what work was done for each customer at each sale, and which parts were used for each sale. If Pat wants to improve his efficiency and effectiveness, which of the following applications would be the best for collecting and storing Pat’s data? 1) Excel 2) SAP3) Access4) Minitab5) Teams6) MySQL

1. What is the most the real estate investor would be willing to pay for additional information? Use Minimum Expected Regret (Minimum EOL)                                       2. Use the alternative method to verify EVPI

List the two broad categories of simulations?

A decision situation can be expressed as either a payoff table or a decision tree diagram.   Question 30 options:   True   False

Scenario analysis allows a firm to ask what - if type questions in capital budgeting. Question 22Select one: True False

please answer ASAP . Q2 Subject : production and operation management

Explain or define each of these terms:c. Expected value