QUESTION Consider the following payoff Table The State of Nature Decision Alternative 0.77 1-0.77- S1 $2 D₁ 3 11 D₂ 4 9 D3 11 5 What is the payoff value for the D₂ under S₂ should be to keep the optimal solution always optimal? Do not writ the sign > or <) (Round your answer to 2 decimal places)
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- 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?1.9 A local television station plans to drop three Friday evening programs at the end of the season. Steve Botuchis, the station manager, developed a list of three potential replacement programs. Estimates of the advertising revenue (in dollars) that can be expected for each of the new programs in the three vacated time slots are as in Table 3. Mr. Botuchis asked you to find the assignment of programs to time slots that will maximize total advertising revenue.A Service Level Agreement (SLA) gives the following sliding scale for recompense for various levels of uptime. Uptime Recompense Less than 99.95% but more than or equal to 99.00% 10% credit on the next bill Less than 99.00% but more than or equal to 95.00% 25% credit on the next bill Less than 95% 50% credit on the next bill What is the smallest number of minutes of downtime in the month of December that would entitle a user to a 50% credit on the next bill? need to know the integer
- Zap Media is a major video distributor that purchases blank DVDs from two sources: Media Makers, which provides 64% of the DVDs and Disk Supply, which provides the remaining 36%. Historically, 4.3% of the DVDs Zap Media has purchased from Media Makers have been defective, whereas 7.7% of the DVDs purchased from Disk Supply have been defective. Use this information and a theoretical group of 10,000 blank DVDs to construct a table for this purchasing scenario. Round all answers and results to four decimal places.Question The craft vendors in Grand Anse, St. George's, Grenada are to be relocated into one large mega-craft market that can hold the majority of vendors. The idea is that the several locations are too dispersed and cause friction when cruise ship visitors and all-inclusive guests are to be entertained. There is a great deal of controversy about the optimal location. The Minister of Tourism commissioned a study and four competing locations were examined. The data in the payoff table shows the possible value of revenue ($000) to the different locations per week under three scenarios. Future Growth Conditions Mall Site Stable Moderate High 1 2,500 2,500 2,510 2 2,430 2,510 2,710 3 1,140 2,100 3,200 4 1,460 2,180 3,050 Which site would be selected if the decision makers used the: (a) LaPlace criterion? (b) Maximin criterion? (c) Maximax criterion?Question The craft vendors in Grand Anse, St. George's, Grenada are to be relocated into one large mega-craft market that can hold the majority of vendors. The idea is that the several locations are too dispersed and cause friction when cruise ship visitors and all-inclusive guests are to be entertained. There is a great deal of controversy about the optimal location. The Minister of Tourism commissioned a study and four competing locations were examined. The data in the payoff table shows the possible value of revenue ($000) to the different locations per week under three scenarios. Future Growth Conditions Mall Site Stable Moderate High 1 2,500 2,500 2,510 2 2,430 2,510 2,710 3 1,140 2,100 3,200 4 1,460 2,180 3,050 (a) What is the expected value of perfect information (EVPI)?
- Question The craft vendors in Grand Anse, St. George's, Grenada are to be relocated into one large mega-craft market that can hold the majority of vendors. The idea is that the several locations are too dispersed and cause friction when cruise ship visitors and all-inclusive guests are to be entertained. There is a great deal of controversy about the optimal location. The Minister of Tourism commissioned a study and four competing locations were examined. The data in the payoff table shows the possible value of revenue ($000) to the different locations per week under three scenarios. Future Growth Conditions Mall Site Stable Moderate High 1 2,500 2,500 2,510 2 2,430 2,510 2,710 3 1,140 2,100 3,200 4 1,460 2,180 3,050 (a) Minmax regret criterion? (b) Hurwicz (realism) criterion with alpha (α) = 0.7? (c) If the probability of stable is 0.35, of moderate is 0.33, of high is 0.32; what decision should be made under risk?1. Redback Industries is a relatively small but successful and fast-growing maker of peripheral devices for cell phones including battery chargers, enhanced antennas, SIM cards, and custom carrying cases. Costco is considering purchasing Redback in order to sell the devices as private label offerings. However, Costco has set an offer price of $ 600M that depends on whether Redback’s current Annual Net Income is higher and significantly different from its 14-year average of $ 104.5M per year; Redback has indicated it is willing to sell itself to Costco at the $600M price. Use the following information to determine at the 95 % Level Of Confidence whether Costco will proceed with the purchase at the planned price of $ 600M or will lower its offering price if Redback’s current Annual Net Income is not greater than $ 104.5M per year. Redback Industries Normalized Yearly Annual Net Income over the last 14 years is $ 104.5M Redback Industries is currently reporting Yearly Annual Net…A consumer is given the chance to buy a baseball card for $1, but hedeclines the trade. If the consumer is now given the baseball card, willhe be willing to sell it for $1? Standard consumer theory suggests yes, butbehavioral economists have found that “ownership” tends to increase thevalue of goods to consumers. That is, the consumer may hold out for someamount more than $1 (for example, $1.20) when selling the card, eventhough he was willing to pay only some amount less than $1 (for example,$0.88) when buying it. Behavioral economists call this phenomenon the“endowment effect.” John List investigated the endowment effect in a randomized experiment involving sports memorabilia traders at a sports-card show. Traders were randomly given one of two sports collectibles, say good A or good B, that had approximately equal market value.1 Those receiving good A were then given the option of trading good A for good B with the experimenter; those receiving good B were given the option of…
- ABC enters into a contract to help DEF, a ramen restaurantto design a market strategy to compete with DEF. The contract spans twelve month. DEF will pay P80,000 at the beginning of each month. At the end of the contract, ABC either will give DEF a refund of P25,000 or will be entitled to an additional P15,000 bonus, depending on whether sales at DEF at year- end increased to a target level. At the inception of the contract , ABC estimates a 30% chance that it will not earn the bonus and calculates the contract price based on the expected value of future payments to be received. At the start of the fifth month, circumstances change and ABC revise the probability that it will earn the bonus to 80% What is the adjustment to the service revenue ?2. "Dalmatian Darnation," by Kathy SparlingA greedy dog breeder named Spreckles , Bred puppies with numerous frecklesThe Dalmatians he sought, Possessed spot upon spotThe more spots, he thought, the more shekels.His competitors did not agree, That freckles would increase the fee.They said, “Spots are quite nice, But they don't affect price;One should breed for improved pedigree.”The breeders decided to prove, This strategy was a wrong move.Breeding only for spots, Would wreak havoc, they thought.His theory they want to disprove.They proposed a contest to Spreckles, Comparing dog prices to freckles.In records they looked up, One hundred one pups:Dalmatians that fetched the most shekels.They asked Mr. Spreckles to name, An average spot count he'd claimTo bring in big bucks. Said Spreckles, “Well, shucks,It's for one hundred one that I aim.”Said an amateur statistician, Who wanted to help with this mission.“Twenty-one for the sample, Standard deviation's ample:They examined one hundred…2. "Dalmatian Darnation," by Kathy SparlingA greedy dog breeder named Spreckles , Bred puppies with numerous frecklesThe Dalmatians he sought, Possessed spot upon spotThe more spots, he thought, the more shekels.His competitors did not agree, That freckles would increase the fee.They said, “Spots are quite nice, But they don't affect price;One should breed for improved pedigree.”The breeders decided to prove, This strategy was a wrong move.Breeding only for spots, Would wreak havoc, they thought.His theory they want to disprove.They proposed a contest to Spreckles, Comparing dog prices to freckles.In records they looked up, One hundred one pups:Dalmatians that fetched the most shekels.They asked Mr. Spreckles to name, An average spot count he'd claimTo bring in big bucks. Said Spreckles, “Well, shucks,It's for one hundred one that I aim.”Said an amateur statistician, Who wanted to help with this mission.“Twenty-one for the sample, Standard deviation's ample:They examined one hundred…
