Practical Management Science, Loose-leaf Version
5th Edition
ISBN: 9781305631540
Author: WINSTON, Wayne L.; Albright, S. Christian
Publisher: Cengage Learning
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Chapter 9, Problem 53P
Summary Introduction
To determine: Whether to attempt two-point shot or three-point shot.
Introduction: Simulation model is the digital prototype of the physical model that helps to
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Which of the following gambles has the largest objective risk?
20% chance of winning $100 and 80% chance of losing $100
50% chance of winning $10,000 and 50% chance of losing $10,000
50% chance of winning nothing and 50% chance of losing $100
50% chance of winning $100 and 50% chance of winning nothing
If a student attends every business analytics class, the probability of passing the course is 0.90; but if the student only attends randomly, then the probability of passing the course is 0.30. If a student fails, he or she can take a makeup exam where the probability of passing is 0.60 if the student has attended every class. This probability of passing the makeup exam drops to 0.20 if the student has attended at random. Passing the course is worth 5 credits. Full-time attendance "costs" 3 credits in terms of energy and time, whereas random attendance "costs" only 1 credit.
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Which alternative should the student choose?
The Dreamscape Production (DP)) is considering producing a pilot for a comedy series in the hope of selling it to a major television network. The network may decide to reject the series, but it may also decide to purchase the rights to the series for either one or two years. At this point in time, DP may either produce the pilot and wait for the network's decision or transfer the rights for the pilot and series to a competitor for P100 million. DP's decision alternatives and profits (in millions of pesos) are as follows:
State of Nature
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Chapter 9 Solutions
Practical Management Science, Loose-leaf Version
Ch. 9.2 - Prob. 1PCh. 9.2 - Prob. 2PCh. 9.2 - Prob. 3PCh. 9.3 - Prob. 4PCh. 9.3 - Prob. 5PCh. 9.3 - Prob. 6PCh. 9.3 - Prob. 7PCh. 9.4 - Explain in some detail how the PrecisionTree...Ch. 9.4 - Prob. 9PCh. 9.4 - Prob. 10P
Ch. 9.5 - Prob. 11PCh. 9.5 - Prob. 12PCh. 9.5 - Prob. 13PCh. 9.5 - Prob. 17PCh. 9.5 - Prob. 18PCh. 9.5 - Prob. 19PCh. 9.5 - Prob. 21PCh. 9.5 - The model in Example 9.3 has only two market...Ch. 9.6 - Prob. 26PCh. 9.6 - Prob. 27PCh. 9.6 - Prob. 28PCh. 9 - Prob. 30PCh. 9 - Prob. 31PCh. 9 - Prob. 32PCh. 9 - Prob. 34PCh. 9 - Prob. 36PCh. 9 - Prob. 37PCh. 9 - Prob. 38PCh. 9 - Prob. 39PCh. 9 - Prob. 46PCh. 9 - Prob. 48PCh. 9 - Prob. 53PCh. 9 - Prob. 67PCh. 9 - Prob. 68PCh. 9 - Prob. 69PCh. 9 - Prob. 70PCh. 9 - Prob. 71PCh. 9 - Prob. 72PCh. 9 - Prob. 73PCh. 9 - Prob. 74PCh. 9 - Prob. 75PCh. 9 - Prob. 76PCh. 9 - Prob. 77P
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