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sashaice [31]
3 years ago
7

(a) For real applications, the normal distribution has two potential drawbacks: (1) it can be negative, and (2) it isn’t symmetr

ic. Choose some continuous random numeric outcomes of interest to you. Are either potential drawbacks really drawbacks for your random outcomes? If so, which is the more serious drawbacks and why?
(b) Many basketball players and fans believe strongly in the “hot hand.” That is, they believe that players tend to shoot in streaks, either makes or misses. If this is the case, why does the binomial distribution not apply, at least not exactly, to the number of makes in a given number of shots? Which assumption of the binomial model is violated, the independence of successive shots, or the constant probability of success on each shot? Or can you tell? Explain your reasoning.

(c) Your company needs to make an important decision that involves large monetary consequences. You have listed all of the possible outcomes and the monetary payoffs and costs from all outcomes and all potential decisions. You want to use the EMV criterion, but you realize that this requires probabilities and you see no way to find the required probabilities. What can you do?

(d) If your company makes a particular decision in the face of uncertainty, you estimate that it will either gain $10,000, gain $1000, or lose $5000, with probabilities 0.40, 0.30, and 0.30, respectively. You (correctly) calculate the EMV as $2800. However, you distrust the use of this EMV for decision-making purposes. After all, you reason that you will never receive $2800, you will receive $10,000, $1000, or lose $5000. Discuss this reasoning.

(e) In the previous question, suppose you have the option of receiving a check for $2700 instead of making the risky decision described. Would you make the risky decision, where you could lose $5000, or would you take the sure $2700? What would influence your decision?

(f) A potentially huge hurricane is forming in the Caribbean, and there is some chance that it might make a direct hit on Hilton Head Island, South Carolina, where you are in charge of emergency preparedness. You have made plans for evacuating everyone from the island, but duh n evacuation is obviously costly and upsetting for all involved, so the decision to evacuate shouldn’t be made lightly. Discuss how you make such a decision. Is EMV a relevant concept in this situation? How would you evaluate the consequences of uncertain outcomes?

(g) You often hear about the trade-off between risk and reward. Is this trade-off part of the decision making under uncertainty when the decision-maker uses the EMV criterion? For example, how does this work in investment decisions?

(h) Under what conditions would you prefer a simple exponential smoothing model to the moving averages method for forecasting a time series? Explain your reasoning!
Mathematics
1 answer:
ElenaW [278]3 years ago
8 0

hello all today's people are in the class of all the dues and then you will be able and send your friends and family members from your side of your home and get it right

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Two boxes contained 155 lb of flour. If you take 20 lb from the first and add it to the second, the first box will contain 12 19
gladu [14]

Answer:

First and second box had 80 and 75 lb flour originally.

Step-by-step explanation:

Let the two boxes contained x lb and y lb of the flour respectively.

Both the boxes contained 155 lb of flour in total.

So the first equation will be,

x + y = 155 --------(1)

If the 20 lb of the flour is taken out then amount of flour in first box = (x - 20) lb

and added to the second box then flour in second box = (y + 20) lb

After the mixing of flour statement says that "the first box will contain \frac{12}{19} of the flour now in the second box."

For this statement equation will be

(x-20)=\frac{12}{19}(y+20)

19(x - 20) = 12(y + 20)

19x - 12y = 380 + 240

19x - 12y = 620 ------(2)

Equation (1) × 12 + equation (2)

12(x + y) + (19x - 12y) = 155×12 + 620

31x = 1860 + 620

31x = 2480

x = \frac{2480}{31}

x = 80 lb

from equation (1)

80 + y = 155

y = 155 - 80

y = 75 lb.

Therefore, first and second boxes had 80 lb and 75 lb of flour originally.

3 0
3 years ago
People are arriving at an amusement park at a constant rate if 450people arrive in 15 minutes how many people arrive each minute
klio [65]
To find the answer, you have to divide-
the people arriving/minute

So it would be -
450/15 = 30
There are 30 people arriving each minute.
6 0
4 years ago
If Y is between X and Z, then X, Y, and Z are collinear?
gtnhenbr [62]
I think, I'd go with A) Always true. As 2 points is always the line. If you add third one, it will be collinear.
8 0
3 years ago
Find the slope of the line that passes through points (2, 8) and (1, 3)
Paha777 [63]

Answer:

Your slope would be 5

Step-by-step explanation:

Since we know 2 points we'd use the formula

M=\frac{y_{2}-y_{1} }{x_{2}-x_{1}}

X_{1} = 2

X_{2}=1

y_{1}=8

Y_{2}=3

So your equation would be

M=\frac{3-8}{1-2}

Than you would subtract each of them leaving you with this:

M=\frac{-5}{-1}

When you divide the two negative numbers that would leave you with your slope, which is 5.

-5 ÷ -1 = 5

I hope this help.

5 0
3 years ago
What is the quotient (x^3+8)/(x+2)
Citrus2011 [14]

Answer:

Step-by-step explanation:

The easiest way to do this is by using synthetic division (I really hope you know what I'm talking about!)

If the factor is x + 2 = 0, then the solution or the root is x = -2.  We will put -2 outside the "box" and the coefficients from the terms of the polynomial inside the "box":

-2|   1    0    0    8

Bring down the first number and multiply it by the -2.  Put the product up under the first 0 and add:

-2|   1    0    0    8

           -2

      1   -2  

Now multiply the -2 by the -2, put the product up under the next 0 and add:

-2|   1    0    0    8

           -2    4

      1    -2    4

Now multiply the 4 by the -2, put the product up under the 8 and add:

-2|   1    0    0    8

           -2   4    -8

     1    -2   4    0

Those bold numbers are the coefficients to the quotient, which is another polynomial, but is one degree less than the one you started with:

x² - 2x + 4 = 0

Since there is no remainder, then x = -2 is a zero of x³ + 8, and (x + 2) is a factor.

There is a whole world of stuff to learn about quadratics!!

4 0
3 years ago
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