# Decision Analysis

The expected value of the number of children born in a single pregnancy in 1996 was 1. 03 and in 2006 it was 1. 04. Hence we do not support the conclusion that increased use of fertility drugs by older women has generated an upward trend in Unit demand (x) 300 p(x) 0. 2 0. 3 0. 35 0. 15 x* p(x) 175 445 xx* p(x) 18000 87500 207500 E(x) = 445, Hence Carolina’s monthly order quantity should be 445. B. Total cost of 445 units will be = 445 * \$22250 Total revenue generated on 300 units = 300*70 = \$21000 Hence the loss of company in a month will be = 22250-21000 .

Variance of number of units demanded = E(xx) – [E(X)]2 = 9475 SD of number of units demanded = sort ( 9475) = 97. 3396 =\$1250 = 207500 ? 445 * 445 a) In a sample of six British citizens, what is the probability that two have ever boycotted goods for ethical reasons? Binomial with n = 6, p = 0. 23 b) In a sample of six British citizens, what is the probability that at least two respondents have boycotted goods for ethical reasons? C) In a sample of ten British citizens, what is the probability that none have boycotted good for ethical reasons?

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Binomial with n = 10, p = 0. 23 Q. 25 Answer Let X: The stock price for companies making u the S 500. Given X follows Normal distribution with mean = 30 and SD = 8. 20 a. C. To find ‘z” such that which implies z Hence ‘A’=z * 8. 20 + 19. 4876 = -1 . 282 Let X: Age of accounts. Given X follows Normal distribution with mean = 0. 93319-0. 15866 = 0. 77453 b. To find z such that -PC