H10 A dance company wants to choose the location for a new studio. Profits obtained will depend onwhether the city bus service addsa stop in front of the building where the studio will be located,The following payoff table summarizes the relevant information:AlternativesAddress 1Address 2Address 3Address 4Stop is added (0.2)$120,000$110,000$140,000$145,000Stop is not added (0.8)$150,000$165,000$100,000$130,000Calculate the expected monetary value associated with choosing Address 4. Enter your exact valuewith no $ sign or any other punctuation.

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Answered: A dance company wants to choose the…

Intermediate Algebra

10th Edition

ISBN:9781285195728

Author:Jerome E. Kaufmann, Karen L. Schwitters

Publisher:Jerome E. Kaufmann, Karen L. Schwitters

Chapter2: Equations, Inequalities, And Problem Solving

Section2.3: Equations Involving Decimals And Problem Solving

Problem 65PS

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A rental car company purchased a new Toyota Camry for $35,000. The company determined this asset should be depreciated for six years using the straight-line depreciation method. At the end of six years, the car will be worth $30,500. Estimate the value of the car at Year 4. Question 4 options: $33,500 $32,000 $32,750 $11,667 $31,2
Fowle Marketing Research, Inc., bases charges to a client on the assumption that telephone surveys can be completed within an average time of 14 minutes or less. If more time is required, a premium rate is charged. I need help with 3 and 4.
Alcoa and Kaiser, duopolists in the market for primary aluminum ingot, choose prices of their 500 foot rolls of sheet aluminum on the first day of the month. The following payoff table shows their monthly payoffs resulting from the pricing decisions they can make. Suppose Alcoa and Kaiser repeat their pricing decision on the first day of every month. Suppose they have been cooperating for the past few months, but now the manager at Kaiser is trying to decide whether to cheat or to continue cooperating. Kaiser’s manager believes Kaiser can get away with cheating for two months, but he also believes that Kaiser would be punished for the next two months after cheating. After punishment, Kaiser’s manager expects the two firms would return to cooperation. Kaiser’s manager ignores the time-value of money and does not discount future benefits or costs. 2. What is the monthly cost of punishment to Kaiser? What is the present value of the cost of cheating for the two months of punishment?
Alcoa and Kaiser, duopolists in the market for primary aluminum ingot, choose prices of their 500 foot rolls of sheet aluminum on the first day of the month. The following payoff table shows their monthly payoffs resulting from the pricing decisions they can make. Suppose Alcoa and Kaiser repeat their pricing decision on the first day of every month. Suppose they have been cooperating for the past few months, but now the manager at Kaiser is trying to decide whether to cheat or to continue cooperating. Kaiser’s manager believes Kaiser can get away with cheating for two months, but he also believes that Kaiser would be punished for the next two months after cheating. After punishment, Kaiser’s manager expects the two firms would return to cooperation. Kaiser’s manager ignores the time-value of money and does not discount future benefits or costs. 1. What is the monthly gain to Kaiser from cheating? What is the present value of the benefit from cheating for the two months of cheating?
A real estate investor has the opportunity to purchase land currently zoned as residential. If the county board approves a request to rezone the property as commercial within the next year, the investor will be able to lease the land to a large discount firm that wants to open a new store on the property. However, if the zoning change is not approved, the investor will have to sell the property at a loss. Profits (in thousands of dollars) are shown in the following payoff table: s1 s2 Purchase d1 640 -200 Do not purchase d2 0 0 probability that the rezoning will be approved is 0.5 The investor can purchase an option to buy the land. Under the option, the investor maintains the rights to purchase the land anytime during the next three months while learning more about possible resistance to the rezoning proposal from area residents. Probabilities are as follows:Let H = High resistance to rezoningL = Low resistance to rezoning P(H) = 0.51 P(s1 | H) = 0.16 P(s2 | H) = 0.84…
Trader A offers a discount of 25 % on the marked price for cash purchase. Trader B offers a trade discount of 20 % and a cash discount of 5 % on the same article marked at the same price as that of Trader A. As a buyer whom should I buy from if I am to pay cash? Why?
The trend in home building in recent years has been to emphasize open spaces and great rooms, rather than smaller living rooms and family rooms. A builder of speculative homes in the college community of Oxford, Ohio, had been building such homes, but his homes had been taking many months to sell and had been selling for substantially less than the asking price. In order to determine what types of homes would attract residents of the community, the builder contacted a statistician at a local college. The statistician went to a local real estate agency and obtained the data contained in file OxHome. This data includes the sales price (measured in thousand dollars), square footage, number of rooms, number of bedrooms, and age for each of 60 single-family residences recently sold in the community. Using this data, a regression model was built to predict the sales price of houses in this community. The regression equation from the model is: sales price (thousand dollars) = 19.5 + 0.1079…
The trend in home building in recent years has been to emphasize open spaces and great rooms, rather than smaller living rooms and family rooms. A builder of speculative homes in the college community of Oxford, Ohio, had been building such homes, but his homes had been taking many months to sell and had been selling for substantially less than the asking price. In order to determine what types of homes would attract residents of the community, the builder contacted a statistician at a local college. The statistician went to a local real estate agency and obtained the data contained in file OxHome. This data includes the sales price (measured in thousand dollars), square footage, number of rooms, number of bedrooms, and age for each of 60 single-family residences recently sold in the community. Using this data, a regression model was built to predict the sales price of houses in this community. The regression equation from the model is: sales price (thousand dollars) = 19.5 + 0.1079…
The trend in home building in recent years has been to emphasize open spaces and great rooms, rather than smaller living rooms and family rooms. A builder of speculative homes in the college community of Oxford, Ohio, had been building such homes, but his homes had been taking many months to sell and had been selling for substantially less than the asking price. In order to determine what types of homes would attract residents of the community, the builder contacted a statistician at a local college. The statistician went to a local real estate agency and obtained the data contained in file OxHome. This data includes the sales price (measured in thousand dollars), square footage, number of rooms, number of bedrooms, and age for each of 60 single-family residences recently sold in the community. Using this data, a regression model was built to predict the sales price of houses in this community. The regression equation from the model is: sales price (thousand dollars) = 19.5 + 0.1079…
Wired & Plugged specializes in manufacturing modern electronic components. It also builds equipment that produces the components. The marketing and production directors advised the president about a proposed manufacturing facility in the form of a payoff table as shown. 1. Suppose the president specified α = 0.8, what decision should be made under the Hurwicz criterion?
Bags Unlimited manufactures and markets backpacks for the youth market. Financial projections for this line of products are revenues of $1,238,000, total variable costs of $841,840 and fixed costs of $218,000. Answer each of the following independent questions. a. Compute the contribution margin. ______________________ b. Compute the contribution rate. ______________________________ c. How much of this product line does the business need to sell to break even? ___________ d. If the business was to save $56,000 in variable costs by offering fewer colors of backpacks, how much of this product line does the business need to sell to break even?
In the long run, which plan has the higher payout? Plan A Payout P(Payout)P(Payout) −$10,000 0.24 $5000 0.27 $40,000 0.49 Plan B Payout P(Payout)P(Payout) −$35,000 0.4 $80,000 0.21 $85,000 0.39

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