Operations Research : Applications and Algorithms
4th Edition
ISBN: 9780534380588
Author: Wayne L. Winston
Publisher: Brooks Cole
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Expert Solution & Answer
Chapter 23, Problem 2RP
Explanation of Solution
Determining which investment strategy is the best:
It is given that the person currently has $100. Each week the user can invest any amount of money he or she currently have in a risky investment. With probability 0.40, the amount the user invest is tripled and with probability 0.60, the amount invested is lost.
First, let us calculate the shipping model for 100 crew members. Hence, the data given will be as follows:
Here,
In the given MMs Template, the above-mentioned details are entered in the highlighted cells B4:B7 appropriately. The screenshot is as shown below:
Once the above details are entered, click on “Click here” button. We can see that the other details are updated automatically because of the built-in formulas. The screenshot is as shown below:
Now, calculate the shipping model for 70 crew members. Hence, the data given will be as follows:
Here,
In the given MMs Template, the above-mentioned details are entered in the highlighted cells B4:B7 appropriately. The screenshot is as shown below:
Once the above details are entered, click on "Click here” button. We can see that the other details are updated automatically because of the built-in formulas.
The screenshot is as shown below:
It is given that a fixed cost of $30 is incurred on every crew member per day
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Students have asked these similar questions
Suppose, you are working in a company ‘X’ where your job is to calculate the profit based on their investment.
If the company invests 100,000 USD or less, their profit will be based on 75,000 USD as first 25,000 USD goes to set up the business in the first place. For the first 100,000 USD, the profit margin is low: 4.5%. Therefore, for every 100 dollar they spend, they get a profit of 4.5 dollar.
For an investment greater than 100,000 USD, for the first 100,000 USD (actually on 75,000 USD as 25,000 is the setup cost), the profit margin is 4.5% where for the rest, it goes up to 8%. For example, if they invest 250,000 USD, they will get an 8% profit for the 150,000 USD. In addition, from the rest 100,000 USD, 25,000 is the setup cost and there will be a 4.5% profit on the rest 75,000. Investment will always be greater or equal to 25,000 and multiple of 100.
Complete the RECURSIVE methods below that take an array of integers (investments) and an iterator (always sets to…
Suppose, you are working in a company ‘X’ where your job is to calculate the profit based on their investment.
If the company invests 100,000 USD or less, their profit will be based on 75,000 USD as first 25,000 USD goes to set up the business in the first place. For the first 100,000 USD, the profit margin is low: 4.5%. Therefore, for every 100 dollar they spend, they get a profit of 4.5 dollar.
For an investment greater than 100,000 USD, for the first 100,000 USD (actually on 75,000 USD as 25,000 is the setup cost), the profit margin is 4.5% whereas for the rest, it goes up to 8%. For example, if they invest 250,000 USD, they will get an 8% profit for the 150,000 USD. In addition, from the rest 100,000 USD, 25,000 is the setup cost and there will be a 4.5% profit on the rest 75,000. The investment will always be greater or equal to 25,000 and multiple of 100.
Complete the RECURSIVE methods below that take an array of integers (investments) and an iterator (always sets to…
6. AND Since there are two zeros on the board, let's determine the probability that you
would be able to cover them on 2 consecutive turns. This means you'd have to roll a
zero and then roll another zero. You can think of this as an AND probability. You need to
roll 0 AND then you need to roll 0 again. Since the result of the first roll will have no
influence on the result of the second roll, you can use the following rule:
P(A and B) = P(A) * P(B)
a) Determine P(0 and 0).
b) Determine 1 - P(0 and 0).
c) Write a sentence describing the meaning of 1 - P( Oand 0 ).
Chapter 23 Solutions
Operations Research : Applications and Algorithms
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