Click ALL ANSWERS BELOW that make the statement correct. Add comments, discussion or calculations to your PART TWO document if you wish to be considered for partial credit. Otherwise the Canvas scoring will be all-or-nothing. lob D offers the followin
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- If an economist wishes to determine whether there is evidence that average family income in a community exceeds $25,000. The best alternative hypothesis is: A. μ ≤ 25,000. B. μ ≥ 25,000. C. μ = 25,000. D. μ > 25,000.An online retailer specializing in custom dog toys is considering launching brick-and-mortar stores in Upstate South Carolina. They have an opportunity to open a spot on Woodruff Road in Greenville, South Carolina next month at an upfront cost of $50,000. They believe this location has a 60% chance of success and a 40% chance of failure. If the location is successful, then it will bring the company a total of $350,000 in net profits over its lifetime. If the location is unsuccessful, then it will lose the company an additional $100,000. Complicating the Woodruff Road location decision is the fact that the company has identified an additional location in downtown Clemson. They do not need to decide on opening this additional location now; they need to decide in about 11 months whether to open it 12 months from now. The Clemson location has an upfront cost of $30,000. Without any additional information, the company believes it has a 70% of success and a 30% chance of failure. If…Traders from the faraway nation of Chplandia have brought infected goods to market in the capital of Pcoria. As a result, a new infectious disease called chpitis is spreading through the Pcorian population. Chpitis is not fatal, but leaves victims severely disfigured for the remainder of their lives. Throughout this problem, assume no discounting of future years.a. The Pcorian government surveys victims to determine how burdensome chpitis is. Respondents claim they are indifferent between living six years without chpitis and living ten years covered with chpitis scars. Most respondents explain that they face a major social stigma in Pcoria’s schools and workplaces.What is the implied quality weight q for a year lived in the aftermath of a chpitis infection?b. Now assume that a drug company has developed an ointment that can be used to treat chpitis sores and reduce scarring. Surveys indicate that the ointment, which costs $10,000 for a full course of treatment, can improve quality of…
- 1.Thereis an athletic organization named Jingle Jangle plans to invest P100,000 tohost soccer game. They expect to sell tickets worth P1,500,000 .However, if itrains on the day of game, they won't sell any tickets and the organization willlose all the money invested. Will youconsider this a good investment, if the weather forecast on the day of game is20 percent possibility of rain?A 2017 study of over half a million eighth through 12th graders found that the number exhibiting high levels of depressive symptoms increased by 33 percent between 2010 and 2015. (a) What is the population of this study? (b) What is the sample of this study? Be clear to mark part (a) and (b) in your solution.The tree diagram in the shown Figure describes the uncertain cash flows for an engineering project. The analysis period is two years, and MARR = 15% per year. Based on this information, Solve, a. What are the E(PW), V(PW), and SD(PW) of the project? b. What is the probability that PW ≥ 0?
- If a+b+c is equal to 22, what is the probability that a is less than b, and b is less than c?a, b, and c are all natural numbers, and the answer has to be in the form of a percent.Using the following table, practice the Expected Monetary Value (EMV), Expected Opportunity Loss (EOL), and Expected Value of Perfect Information (EVPI). Use the .30 for the probability of a Strong Market, .50 for the probability of a Fair Market, and .20 for the probability of a Poor Market. Show your selections (highlight your best alternative). You must show your work. PROFIT ($) STRONG MARKET FAIR MARKET POOR MARKET Large facility 550,000 110,000 -310,000 Medium-sized facility 300,00 129,000 -100,000 Small facility 200,000 100,000 -32,000 No facility 0 0 0Answer the following questions. 3. When given two separate events, how do we know whether to apply the Addition Principle or the Multiplication Principle when calculating possible outcomes? What conjunctions may help to determine which operations to use?
- 6 The observed policy amount for the policy holder in previous question is 280 ($1,000) The prediction error is _______. a 9.399 b 7.833 c 6.527 d 5.439Phil Dunphy, a real estate agent, is considering whether he should list an unusual $755,485 house for sale. If he lists it, he will need to spend $5,573 in advertising, staging, and fresh cookies. The current owner has given Phil 6 months to sell the house. If he sells it, he will receive a commission of $20,636. If he is unable to sell the house, he will lose the listing and his expenses. Phil estimates the probability of selling this house in 6 months to be 71%. What is the expected profit on this listing?A recent survey asked a sample of 50 persons “How often do you attend religious services?” Of those sampled, 30 were women and 20 were men. Of the women surveyed: 70 percent reported that they attend religious services regularly30 percent reported that they do not attend religious services regularly Of the men surveyed: 20 percent said they attend religious services regularly80 percent reported that they do not attend religious services regularly (a) Use the information above to complete the following contingency table: Attend religious services regularly Do not attend religious services regularly Total Woman 30 Men 20 Total 50 (b) Using your answer to part (a), calculate the probability that a randomly selected respondent who attends religious services regularly is a male. (c) Are the events ‘attend religious services regularly’ and ‘respondent is male’ independent? Give reasons for your answer. (d) Are the events ‘attend religious services regularly’…