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Save your project in a location that you will remember and with your full name.If the probabilities associated with the states of nature are 0.30 for a large crowd, 0.50 for an average crowd, and 0.20 for a small crowd, determine:ġ.The alternative that provides the greatest expected monetary value (EMV).Ģ.The expected value of perfect information (EVPI). A concessionaire for the local ballpark has developed a table of conditional values for the various alternatives (stocking decisions) and states of nature (size of crowd). The governor of Michigan believes that the state can improve the state’s crime rate if the state can reduce the college debt carried by its citizens and if they can increase the percent of the population covered by health insurance.ġ.Using theStates Data Set and PHStat, create the multiple regression prediction equation.Ģ.Predict the crime rate for Michigan if the college debt were $25,000 and the percent not covered by insurance was 10?ħ.
There are eight branches in this network.ĭetermine the maximum flow (in hundreds of gallons of water per minute) from node 1 to node 5Ħ. For example, row 1 is the flow from node 1 to node 2 and row 2 is the reverse flow from node 2 to node 1. Remember that the arc has both capacity and reverse capacity. The network of a city sewer system and their capacities are shown below.
The major outlet store is located at node 7.ġ.Find theshortest route and distance from Node 1 to Node 7.ĥ. The following represents the distances in miles from a warehouse (node 1) to various cities in Montana. The table below gives the distances between the various buildings on campus in hundreds of feet.ġ.How should the buildings be connected to minimize the total length of cable?Ĥ.
The first stage in this effort is to install the "backbone," i.e., to connect all the buildings. Kaplan College has decided to "wire" its campus. Data collected on the yearly demand for 50-pound bags of fertilizer at Sunshine Garden Supply are shown in the following table.ġ.Develop a three-year moving average to forecast sales in year 12.Ģ.Develop a 3-year weighted average to predict demand in year 12, in which sales in the most recent year is given a weight of 2 and sales in the two years prior to that are each given a weight of 1.ģ.Develop a regression/trend line to estimate the demand for fertilizer in year 12.Ĥ.Based on the three forecasts you have created, which forecast is the most accurate?ģ. After careful analysis, Susan developed the following table:ġ.Develop a decision table for this decision.Ĥ.What is the criterion of realism decision? Use ? = 0.6.Ģ. The annual returns will depend on both the size of the station and a number of marketing factors related to oil industry and demand for gasoline. Susan’s problem is to decide how large her station should be. Even though independent gasoline stations have been having a difficult time, Susan Solomon has been thinking about starting her own independent gas station. ♻e sure to put your name on this document and save it to your computer.ġ.
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