Given unlimited availability of resources: Evaluate the officer’s chance to catch the robbers if she arrives 42.3 minutes after the robbery begins. [Calculate the probability for the critical path only]
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Given unlimited availability of resources: Evaluate the officer’s chance to catch the robbers if she arrives 42.3 minutes after the robbery begins.
[Calculate the probability for the critical path only]
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- Movieflix, an online movie streaming service that offers a wide variety of award-winning TV shows, movies, animes, and documentaries, would like to determine the mathematical trend of memberships in order to project future needs. Year 2013 2014 2015 2016 2017 2018 2019 2020 2021Membership (000s) 17 16 16 21 20 20 23 25 24 1. Forecast 2023 membership.A national survey indicated that 30% of adults conduct their banking online. It also found that 40% are under the age of 50, and that 25% are under the age of 50 and conduct their banking online. A. What percentage of adults do not conduct their banking online? B. What type of probability is the 25% mentioned above? Just write down the name of the probability. C. Construct a joint probability table showing all joint and marginal probabilities.In November 2023, a certified investment property appraiser was hired to appraise the value of a 72,000 square foot Safeway anchored neighborhood shopping center in Fremont, California that was last sold in 2014 to a foreign investment company based in the Cayman Islands for $26 million. The November 2023 appraised value represents the: a. Actual market value of that property b. Actual purchase price of that property c. Actual replacement cost of that property d. Actual opinion of value by that appraiser
- . Two servers in a restaurant predict how many guests will come for dinner in the nextfour days. The first server predicts the number of guests to be 23 for day 1, 35 for day 2,30 for day 3, and 28 for day 4. The second server predicts 26, 27, 28, and 29 for the fourrespective days. The actual attendance turns out to be 30, 22, 31, and 25. Who has thebigger forecast bias? What are the MSE and the MAE for the two servers?a) Calculate the three point moving averages (quarters) and seasonal variation for the above data b) A detective figures he has a one in nine chance of recovering stolen property. His out-of-pocket expenses for the investigation are $9,000. He is only paid his fee if he recovers the stolen property, what should he charge clients in order to breakeven? c) At races, your horse, has a probability of 1/20 of coming 1st, 1/10 of coming 2nd and a probability of 1⁄4 in coming 3rd. First place pays $4,500 to the winner, second place $3,500 and third place $1,500.Hence, is it worth entering the race if it costs $799? d) Your company plans to invest in a particular project. There is a 35% chance you will lose $30,000, a 40% chance you will break even, and a 25% chance you will make $65,000. Based solely on this information, what should youdo? e) A manufacturer is considering the production of a new and better mousetrap. She estimates the probability that the new mousetrap is successful is 3⁄4.…Classify the following risks into variation, foreseen uncertainty, unforeseen uncertainty, and chaos:a. A hurricane on the U.S. East Coast floods a regional warehouse destroying a large amount of stock.b. A machine on the plant floor breaks down for an hour.c. Bad weather on the weekend causes an increase in demand for umbrellas.d. A cool summer causes a decrease in demand for air conditioners for that season.e. The excavation process for a new manufacturing plant in the U.S. Midwest uncovers an archaeological find of such significance that no building can take place on that site and a new site for the plant must be found.f. Competitors to the iPad launch smaller tablet computers before the iPad mini is ready to launch, thus negatively affecting demand for the iPad.g. The Second World War caused auto manufacturers to switch to producing military vehicles.h. A drug is found to have dangerous side effects following its launch.i. The transportation disruptions, including the grounding of…
- Explain or define each of these terms:a. Laplace criterionb. Minimax regretc. Expected valued. Expected value of perfect informationA national survey indicated that 30% of adults conduct their banking online. It also found that 40% are under the age of 50, and that 25% are under the age of 50 and conduct their banking online. A. What is the probability that an individual conducts banking online given that the individual is under the age of 50? B. Are Banking Online and Age independent? Explain.ic 2-Time Series Analysis and F eBook Problem 6-21 (Algorithmic) The Centers for Disease Control and Prevention Office on Smoking and Health (OSH) is the lead federal agency responsible for comprehensive tobacco prevention and control. OSH was established in 1965 to reduce the death and disease caused by tobacco use and exposure to secondhand smoke. One of the many responsibilities of the OSH is to collect data on tobacco use. The following data show the percentage of U.S. adults who were users of tobacco for a recent 11-year period (http://www.cdc.gov/tobacco/data_statistics/tables/trends/cig_smoking/index.htm). Year 1 2 3 4 5 6 7 8 9 10 11 Percentage of Adults Who Smoke 22.9 25 Peremt of Adults Who St 20 15 21.5 20 8 20.8 a. Choose the correct time series plot. (0) 10 20.1 20.1 18.0 18.9 19.4 19,4 20.3 20.3 20.3 19.4 18.8 4 Year (0) $ 10 12 (1) Percent of Adults Who Smoke 25 20 15 10 Year (0) S 10 12 4
- 10 Investors will be indifferent between two investments if both investments have the same expected return. Select one: True FalseBioTech Research Center is working to develop a new vaccinefor the West Nile Virus. Th e project is so important that the fi rm hascreated three teams of experts to work on the project from diff erentperspectives. Team 1 has a 90 percent chance of success, team 2 an85 percent chance of success, and team 3 a 70 percent chance. Whatis the probability that BioTech will develop the vaccine3. The manager for a manufacturing company must recommend whether to construct a large plant, construct a small plant or do nothing. He estimates the long-run profits in $ as follows: State of Nature Alternative Good Average Poor Market($) Market ($) Market ($) Construct a 100,000 35,000 -60,000 large plant Construct a 75,000 25,000 -40,000 small plant Do nothing -5,000 0 0 Probability 25% 50% 25% Solve using: A. Expected Opportunity Loss B. Expected Value of Perfect Information