Question:
The operations manager for a well-drilling company must recommend whether to build a new facility, expand his existing one, or do nothing. He estimates that long-run profits (in $000) will vary with the amount of precipitation (rainfall) as follows:
Alternative Precipitation
Low Normal High
Do nothing -100 100 300
Expand 350 500 200
Build new 750 300 0
If he feels the chances of low, normal, and high precipitation are 30 percent, 20 percent, and 50 percent respectively, What is EVPI (Expected value of Perfect Information)?
A. $140,000
B. $170,000
C. $285,000
D. $305,000
E. $475,000
Answer:
D. $170,000
Explanation:
The expected long run profits are for
Low Normal High
Do nothing -100*0.3 100*0.2 300*0.5 = 140
Expand 350*0.3 500*0.2 200*0.5 = 305
Build new 750*0.3 300*0.2 0*0.5 = 285
Therefore the expected long run profits are
$140,000
$305,000
$285,000
Based on his selected option being either to build new or to expand, the most profitable option is to expand
=$305,000
EVPI = EPPI-EMV =$170,000
Answer:
The wavelength of observed light on earth is 568.5 nm
Explanation:
Given that,
Velocity of spaceship 
Wavelength of laser 
We need to calculate the wavelength of observed light on earth
Using formula of wavelength
Hence, The wavelength of observed light on earth is 568.5 nm
Answer:
4.7 m³
Explanation:
We'll use the gas law P1 • V1 / T1 = P2 • V2 / T2
* Givens :
P1 = 101 kPa , V1 = 2 m³ , T1 = 300.15 K , P2 = 40 kPa , T2 = 283.15 K
( We must always convert the temperature unit to Kelvin "K")
* What we want to find :
V2 = ?
* Solution :
101 × 2 / 300.15 = 40 × V2 / 283.15
V2 × 40 / 283.15 ≈ 0.67
V2 = 0.67 × 283.15 / 40
V2 ≈ 4.7 m³
