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- Application of new better technology shiftssupply leftwards.Select one:0a. TrueO b. FalseGet the following: a. Minimax regret b. Hurwicz (a = 0.4) c. Equal likelihoodThe project manager of Good Public Relations gatheredthe data shown in Table 7.15 for a new advertisingcampaign.a. How long is the project likely to take? b. What is the probability that the project will take more than38 weeks?c. Consider the path A–E–G–H–J. What is the probability thatthis path will exceed 38 weeks?
- Fare F ($/trip) and travel time T (hr/trip) for Bus and Rails are given Bus: F= 40, T = 3 Rail: F = 56, T=2.5 We have a utility function u = -0.005 F -0.1 t * Use the logit model to find the probability of choosing bus * What change in rain rare would achieve the probability of choosing rail to be 55%? * What value use time is implied by the utility function? Start to think about the utility of one-hour a. it will be #% b. #$ c. $20$/hrexample of situations that will you will use empirical, classical, and subjective approach to estimate probabilities.Tom wants to avoid any accidents on the work floor of his factory. If an accident does occur, itwould cost him $500,000 in damages. Installing safety equipment would decrease the probabilityof an accident occurring from 20% to 10%. However, the equipment costs $20,000 to install.10. What is his expected loss after installing the safety equipmenta. $20,000b. $50,000c. $100,000d. $125,000
- Xavier has preferences between food eaten today and food eaten tomorrow of the form. U(today, tomorrow) = 0.51 * ln(today) + 0.49 * ln(tomorrow) He has $100,000 to spend. Food today costs $20 per pound; food tomorrow costs $19 per pound. 9. How many pounds of food does he consume today? 10. How many pounds of food does he consume tomorrow? (Please evaluate to get number values as solution)Pisa Pizza, a seller of frozen pizza, is considering introducting a healthier version of its pizza that will be low in cholesterol and contain no trans fats. The firm expects that sales of new pizza will be $20 million per year. While many of these sales will be to new customers, Pisa Pizza estimaes that 40% will come from customers who switch to the new, healthier pizzai nstead of buying the original version. a) Assume cusotmer will spend the same amount on either version. What level of incremental sales is associated with introducing the new pizza? b) Suppose that 50% of hte cusomters who will switch from Pisa Pizza's orignial pizza to its healthier pizza will switch to another brand if Pisa PIzza does not introduce a healthier pizza. What level of incremental sales is associated with introducing the new pizza in this case?1, outcome B/ outcome A 2, outcome A/ outcome B 3, 4, shift of/ movement along 5, a decrease/ an increase 6, an increase/ a decrease
- a. If the decision maker knows nothing about the probabilities of the fourstates of nature, what is the recommended decision using:i. the optimistic approachii. the conservative approachiii. the minimax regret approachiv. the Laplace methodHow were the small business before Covid 19?According to a recent Wall Street Journal article, about 2% of new US car sales are electric vehicles (data from Edison Electric Institute reported by Jinjoo Lee, "Peak Oil? Not This Year. Or This Decade," January 9, 2021 pg. B12). Suppose a company has 111 employees who drive new cars (separately) to work each day. What is the probability that at least one of them will drive an electric car? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.