Operations Research : Applications and Algorithms
4th Edition
ISBN: 9780534380588
Author: Wayne L. Winston
Publisher: Brooks Cole
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Computer Science
Consider the demand and supply system
p = ad +bdqd +ud
p = as +bsqs +us
with the equilibrium condition qd = qs = q. The parameters bd and bs are −2 and 1.5, respectively. Find the parameters ad and as are such that q = 5 and p = 10.
Throughout this question use N = 100, and set the random seed to 14022022. The variable ud has a standard deviation of 3. All randomly generated variables have a mean of zero and are normally distributed unless something else is specified. All Monte Carlo studies should be done with 10,000 repetitions.
Part a. Illustrate the supply and demand curves in a graph, together with a sample of simulated price and quantity data. Provide an additional graph where you have included the OLS estimated line of demand equation above. Are your estimates close to the true values of ad and bd ?
Solve the question in Python language on Jupyter notebook.
Consider a Baseball World Series (best of 7 game series) in which team A theoretically has a 0.55 chance of winning each game against team B. Simulate the probability that team A would win a World Series against team B by simulating 1000 World Series. Use R to conduct simulation
Please solve the following problem.
Quiz = Pass
Quiz = Fail
AI = Fail
0.1
0.2
AI = Pass
0.6
0.1
Mid = Pass
Mid = Fail
AI = Fail
0.2
0.2
AI = Pass
0.5
0.1
Suppose you have three events AI Grade, Quiz, and Mid. Here each event has two possible outcomes, either pass or fail. Additionally, given that AI Grade is observed, Quiz and Mid become independent of each other. Also, out of every 100 students, 30 students fail the AI course. Now, using the joint probability tables given, calculate P(AI Grade=Pass, Quiz=Fail, Mid=Fail).
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Operations Research : Applications and Algorithms
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Operations Research : Applications and AlgorithmsComputer ScienceISBN:9780534380588Author:Wayne L. WinstonPublisher:Brooks Cole
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