Suppose that a risk neutral competitive firm has to make its output (y) decision before it observes the uncertain output price, p. Assume that p is a random variable whose mean is E(p) = 2 and whose variance is Var(p) = 4. Assume that p is always greater than 1 (this ensures that there is always a strictly positive solution for y, regardless of what p is). Let the cost function be given by C = y + y². How much is the firm willing to pay for information about p?
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- r.edu/courses/97574/quizzes/357143/take ch results - yaz... Question 23 Consider the following probability distribution. xi 0 M Question Mode: M... 1 2 3 O 2.5 0.9 O 1.9 P(X = xi) O 1.5 0.1 The expected value is 0.2 0.4 0.3 Question 24 An analyst has constructed the following probability distribution for firm X's predicted return for upcoming year.It is estimated that a grocer’s daily profit from the sale of two brands of cherry juice is given by thefunction:P(x,y) = (x - 30)(70 - 5x + 4y) + (y – 40)(80 + 6x – 7y) centswhere x is the price per can of Brand V Juice and y is the price per can of Brand Triple V Juice. CurrentlyBrand V Juice sells for 50 cents per can and Brand Triple V Juice sells for 52 cents per can.i. Use marginal analysis to estimate the change in the daily profit that will result if the grocer raises theprice of Brand Triple V by one cent per can while keeping the price of Brand V unchanged.ii. Find a stationary point of the daily profit function. Classify this stationary point.21. The amount of bread (in hundreds of pounds) x that a certain bakery is able to sell in a day is found to be a numerical valued random phenomenon, with a probabiliiy function specified by the p.d.f. f(x), given by : k. x ={k. (10 – x), for 5Consider a perceptron that has two real- valued inputs and an output unit that uses a Sigmoid function as its output function. All the initial weights and the output unit's threshold equal 0.2 Assume that the output should be 0 for the input in1 = 2 and .in2 = 5 Let (the learning rate) be 0.5 Show the value of the all weights and the .output after 2 iteration the new weights the output isWhich of the following is not a continuous random variable: O The delivery time for a randomly chosen Amazon delivery O The number of whole pizzas cooked by a restaurant in a day O The weight of a randomly chosen car O The height of a randomly chosen studentProfit Analysis Unendo, is a large computer game manufacturer. They have estimated that the demand function for their game "Destiny 3" is as follows... p = 89 - 0.05g DESTIN Y V 3 where p is the price of a game and q is the number of game produced and sold per week. They estimate that their cost function in dollars is ... C(q) = 269 + 5000 where the fixed cost is $5000 and the marginal cost is $26 per game Unendo wishes to maximize the weekly profit of producing and selling the game. Find the number, q, of units that produces maximum profit.Profit Analysis Unendo, is a large computer game manufacturer. CALL DUTY WWII They have estimated that the demand function for their game "Call of Duty: WWIII" is as follows ... p = 82 - 0.05q; where p is the price of a game and q is the number of game produced and sold per week. They estimate that their cost function in dollars is ... C(q) = 22g + 5000; where the fixed cost is $5000 and the marginal cost is $22 per game Unendo wishes to maximize the weekly profit of producing and selling the game. Find the price, p, per game that generates maximum profit. (Round vour answer to 2. decimal places if necessarv). 8.The expected value of a random variable X that is denoted by u is called its: O a. median. O b. mode. O c. mean. d. variance. NEXT edu.om/mod/quiz/attempt.php?attempt3D1894613&cmid=8898568ipage=8#PER-UNIT COST (Dollars) Jouet is a profit-maximizing firm producing toy trains-a capital-intensive good-which are sold in its home country, France, and abroad in Russia. Jouet chose foreign production as a method of penetrating the Russian market and has to decide whether it is more efficient to directly invest in ussia to establish a production subsidiary or to license the technology to a Russian firm to produce its goods. n the following graph, AVCR is the average variable cost curve of a Russian firm producing toy trains. (This curve represents costs such as labor nd materials.) The curve ATCsidiary represents the total unit costs Le Jouet will face if it establishes a subsidiary in Russia. ATCudary AVC Russia 15 20 4 60 75 90 105 120 130 150 PRODUCT (Thousands)You are at a casino and there are three slot machines you can use to bet on. You must have a return of .5% of higher on what you are betting. Below is the expected returns for each slot machine under various scenarios. What combination of machines do you play to maximize your average return? Decision Variables Data Slot 1 100.0% Monday Tuesday Wednesda Average Slot 2 0.0% Slot #1 8% 4% 5% 5.667% Slot 3 0.0% Slot #2 2% -3% 3% 0.667% Slot #3 6% -2% 4% 2.667% Objective 5.7% Constraints 0.08 >= 0.5% 0.04 >= 0.5% 0.05 >= 0.5% 100.0% .: 100%Suppose X is a random variable with possible values -2,3 and 1 and with respective probabilities 0.22, 0.35, and 0.43 then the mean and standard deviation of X, respectively, are: of a. 1.04 and 1.838 O b. 1.04 and 1.876 O c. 0.667 and 1.876 d. 1.04 and 0.3733 O e. 0.667 and 0.3733how to calulate the fixed overhead spending variance?SEE MORE QUESTIONS