The owner of a small business is considering three options: buying a computer, leasing a computer, or getting along without a computer. Based on the information obtained from the firm's accountant, the following payoff table (in terms of net. profit) was developed: State of Nature State #1 State # 2 State # 3 Alternative (S1) (S2) (S3) A1 4 6. A2 7. A3 3. Based on the probability for each state of nature in previous question(the probability for $1 to happen equals the probability of S2; the probability for S2 to happen is three times of S3). What is the EVPI?

The number of people visiting the hospital emergency room for chest pains increased as the stock market dropped in 2008 & 2009. The drop in the stock market is probably partly responsible for this increase. Two Things Being Correlated (in the premises) : How They're Purportedly Correlated: Conclusion Argued For (in the conclusion) : Any Plausible Alternate Explanations? (yes or no) : If so, what? (spurious coincidence, common cause, reversed) : Explain this Alternate Explanation: Overall Quality of Argument (good or bad) :

Fill in the P(X=x) values to give a legitimate probability distribution for the discrete random variable X, whose possible values are -3, 0, 4, 5, and 6. Value x of X P (X = x) -3 0 0.23 5 0.17 6 0.30

Balance the equation. Fill in the blank. If a coefficient is 1, write a 1 (i.e. do not leave it blank). Al2O3 + Al + Fe Fe3O4 =

An expensive piece of equipment is used in the masking operation for semiconductor manufacture.A capacitor in the equipment fails randomly. The capacitor costs $7.50, but if it burns out while the machine is in use, the production process must be halted. Here the replacement cost is estimated to be $150. Based on past experience, the lifetime distribution of the capacitor is estimated to be                     Number of Months                    Probability of                           of Service                                Failure                                 1                                            .08                                 2                                            .12                                 3                                            .16                                 4                                            .26                                 5                                            .22                                 6…

Careforall, The mayor of sickcity, claimed that his residents are very elastic and highly sensitive when the price of preventative care changes but not so sensitive when the price of inpatient care changes. To prove her point she referred back to the RAND studies. She claimed that the results of a replicated study in her town are shown below Plan              Average # of preventative care visits                  Average # of inpatient visits Free                     3.2                                                                        0.126 25%                     2.54                                                                       0.122 50%                     2.10                                                                        0.118 Careforall claimed that the best solution for her city is to provide free health care for all. The insurance companies replied that they will not be able to provide such a service. As a health adviser, you need to draft a proposal where…

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