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Decision making with probabilities

Dollar Department Stores has received an offer from Harris Diamonds to purchase Dollar’s store on Grove Street for $120,000. Dollar has determined probability estimates of the store's future profitability, based on economic outcomes, as: P($80,000) = .2, P($100,000) = .3, P($120,000) = .1, and P($140,000) = .4. a.Should Dollar sell the store on Grove Street? b. What is the EVPI? c . Dollar can have an economic forecast performed, costing $10,000, that produces indicators I1 and I2, for which P(I1*80,000) = .1; P(I1*100,000) = .2; P(I1*120,000) = .6; P(I1*140,000) = .3. Should Dollar purchase the forecast?

Subject:

Statistics

Topic:

All Topics

Posting ID:

4826

OTA ID:

103060

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Which test to use and why is it best?

I received three data sets (the data here are fictional to preserve confidentiality, but the point is the same): In 1998, a group of companies sold 1,000 units of Product A, 500 of B, 200 of C etc, for a total of 2000 units sold for ALL 8 of a set of 8 products. In 1999, the numbers were 900 for A, 400 for B, 300 for C etc, for a total of 1800 units for all 8 of these products. Also, in 1999, a sample of 300 employees from the different companies were asked about if they had sold each product and how much they had sold. For Product A, 80% said they had sold at least one unit, and among those 240 employees, the mean # of units sold was 20. For B, 90% said they had sold at least one unit a... click for more

Subject:

Statistics

Topic:

All Topics

Posting ID:

4833

OTA ID:

103485

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p-chart control chart using phstat

out of the problem, i have done b) and c). I need help with a). I am having a hard time drawing out a p- control chart using PHstat. If you dont have phstat, you can download it for free here: http://www.sunflowerlabs.com/phstat DATA FILE IS ATTACHED so you dont have to retype it.

Subject:

Statistics

Topic:

All Topics

Posting ID:

4836

OTA ID:

103477

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goal programming in EXCEL

Please answer questions in DETAIL and the rationale for choosing them. Even if you have answers to ONLY the first TWO question, its ok. Send it over ASAP. =================================== See attachment =================================== You have now become an expert in the use of goal and integer programming. Consider now how you would creatively apply an integer goal programming model to this problem setting. You are asked here to provide a conceptual or written formulation rather than a mathematical formulation. a. Please describe several economic or "hard" constraints that you would include in your model. b.Please describe several goal or "soft" constraints that you would... click for more

Subject:

Statistics

Topic:

All Topics

Posting ID:

4871

OTA ID:

103060

View Details $1.99 Download Add to Cart

Binary integer programming model (capital budgeting)

a. Define the decision variables for this formulation. b. Show the binary integer programming formulation including the objective function and all relevant constraints. c. Solve the problem as a binary integer programming model on a spreadsheet, or in LINDO. d. Interpret this solution to management in its language.

Subject:

Statistics

Topic:

All Topics

Posting ID:

4872

OTA ID:

103058

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