The J. R. Ryland Computer Company is considering a plant expansion to enable the company to begin production of a new computer product. The company's president must determine whether to make the expansion a medium- or large-scale project. Demand for the new product is uncertain, which for planning purposes may be low demand, medium demand, or high demand. The probability estimates for demand are 0.30, 0.50, and 0.20 respectively. Letting x and y indicate the annual profit in thousands of dollars, the firm's planners developed the following profit forecasts for the medium- and large-scale expansion projects. Medium-Scale Expansion Profit Large-Scale Expansion Profit f(x) y f(y) Low 50 0.30 0.30 Demand Medium 150 0.50 100 0.50 High 200 0.20 300 0.20 (a) Compute the expected value (in thousands of dollars) for the profit associated with the two expansion alternatives. Medium-Scale |thousand dollars Large-Scale thousand dollars Which decision is preferred for the objective of maximizing the expected profit? The -Select--- v Expansion Profit forecast is preferred for the objective of maximizing the expected profit. (b) Compute the variance for the profit associated with the two expansion alternatives. Medium-Scale Large-Scale Which decision is preferred for the objective of minimizing risk or uncertainty? The --Select-- V Expansion Profit forecast is preferred for the objective of minimizing risk or uncertainty.

A store specializing in mountain bikes is to open in one of two malls. If the first mall is selected, the store anticipates a yearly profit of $1,425,000 if successful and a yearly loss of $475,000 otherwise. The probability of success is 1. If the second mall is selected, it is estimated that the yearly profit will be $950,000 if successful; 3 otherwise, the annual loss will be $285,000. The probability of success at the second mall is Complete parts (a) through (c) below 4 - a. What is the expected profit for the first mall?

Please do question 1f and 1g handwritten

er Weapon Handgun Rifle Shotgun Unknown firearm Knives Hands, fists, etc. Other Probability 0.478 0.027 0.035 0.148 0.135 0.059 0.118 to 0 and less than or equal to 1, and the sum of the probabilities of all outcomes E 14 quiz

The Business School at State University currently has three parking lots, each containing 155 spaces. Two hundred faculty members have been assigned to each lot. On a peak day, an average of 70% of all lot 1 parking sticker holders show up, an average of 72% of all lot 2 parking sticker holders show up, and an average of 74% of all lot 3 parking sticker holders show up. a. Given the current situation, estimate the probability that on a peak day, at least one faculty member with a sticker will be unable to find a spot. Assume that the number who show up at each lot is independent of the number who show up at the other two lots. Compare two situations: (1) each person can park only in the lot assigned to him or her, and (2) each person can park in any of the lots (pooling). (Hint: Use the RISKBINOMIAL function.) If needed, round your answer to a whole percentage and if your answer is zero, enter "0". No pooling: Pooling: 51.4 % 83.8 % b. Now suppose the numbers of people who show up at…

Nicole has purchased the life insurance policy for her fish for the price of $200 per year and Nicole will receive $4000 in case if her fish passes away. The insurance company estimated the probability of her fish passing away during the length of the policy to be 0.5%. Let XX  be the insurance company's profit. Answer the following questions: 1. Create the probability distribution table for XX :  XX  outcome profit xx ,$  P(X=x)P(X=x)    fish passes away       fish survives     2. Use the probability distribution table to find the following:  E[X]=μX=E[X]=μX= dollars. (Round the answer to 1 decimal place.)  SD[X]=σX=SD[X]=σX= dollars. (Round the answer to 1 decimal place.)

Given Probabilities y = 1 y = 2 x = 1 x = 2 0.2 0.3 0.5 Find: а. Pr(X > Y) %3 b. Pr(Y = 1) =