A Cell Phone Manufacturer is developing a new cell phone and currently has two models under consideration. The following table summarizes how much profit each model generates in two different demand scenarios (in $Million): Model 1 Model 2 High Demand 5200 4200 The managers of the company believes that there is a 68% probability that the new phone will have a high consumer demand. Low Demand -2500 -500 Answer the following questions based on this information and submit your answers using the drop- down menus given below: a) What is the expected profit from introducing Model 1 (in $Million)? b) What is the expected profit from introducing Model 2 (in $Million)? c) Which model should the managers choose according to the expected value strategy?
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- Letz Products has two decisions to make, with the second decision dependent on the outcome of the first. The company intends to build a new plant. Letz has the option of conducting its own marketing research survey for which the results will either be positive or negative. The information from this survey could help it decide whether to build a large plant, to build a small plant, or not to build at all. Letz recognizes that although such a survey will not provide it with perfect information, it may be extremely helpful. Using figure 1 – explain to your client (Letz) what the above decision tree shows. You are required to show all working.The owner of a retail store that specializes in school supplies plans to buy TV ad time during the broadcast of Wheel of Fortune, a game show that has a rating of 20. It reaches 15,000 people in the primary target audience and a 30-second spot costs $500. What is the cost per thousand (CPM) of the show? 1) $33 2) $133 3) $30 4) $23 5) $750 Dravinur DnnUse the below formula to calculate the CLV for the following: A manager of a cable company wants to determine if it is strategic to acquire the Brett family, by estimating their household-level CLV. The manager estimates that it will cost the company $80 (A) to get the Bretts’ to switch, and the Bretts’ will generate $150 profit each year (M), with a $30 annual marketing cost to retain them (C). The estimated retention rate (r) is 65%, and the current discount rate is 5%.(d) i) CLV= ii) Based on your calculation, are the Brett’s profitable to the cable company?
- Alternative A1 A2 Prior Probability State of Nature S1 S2 -40 100 0.4 75 0 0.6 There is an option of paying $100 to have research done to better predict which state of nature will occur. When the true state of nature is S1, the research will accurately predict S1 60% of the time. When the true state of nature is S2, the research will accurately predict S2 80% of the time. What is the posterior probability of S2 given that the research predicts S2?A regional distributor purchases discontinued appliances from various suppliers and then sells themon demand to retailers in the region. The distributor operates 5 days per week, 52 weeks per year. Onlywhen it is open for business can orders be received. The following data are estimated for a counter-topmixer:Average daily demand 1d2 = 100 mixersStandard deviation of daily demand 1sd2 = 30 mixersLead time 1L2 = 3 daysHolding cost 1H2 = $9.40>unit>yearOrdering cost 1S2 = $35>orderCycle@service level = 92 percentThe distributor uses a continuous review Q system.a. What order quantity Q, and reorder point, R, should be used?b. What is the total annual cost of the system?c. If on-hand inventory is 40 units, one open order for 440 mixers is pending, and no backorders exist,should a new order be placed?Pls help What would the correlogram (ac/pac) look like for both, (i) the ARMA model, and, (ii) the ARIMA model?
- Quarterly sales of a local department store over a 4-year period are given below: Quarters 2016 Q1 Sales (in millions) 500 Quarters 2018 Q1 Sales (in millions) 560 2016 Q2 490 580 2018 Q2 2018 Q3 2018 Q4 2019 Q1 2019 Q2 2016 Q3 570 630 2016 Q4 2017 Q1 2017 Q2 750 720 480 540 500 590 2017 Q3 580 2019 Q3 620 2017 Q4 740 2019 Q4 790 The data shows sign of seasonality. By computing seasonal indices for each quarter, forecast the sales for each quarter in year 2020, given that the estimated sales in 2020 isSYSTEM IDENTIFICATION 15- The concept of "whether the parameters of a model set can be uniquely determined from the predictor filters or not" is called: A. identifiability B. stability C. prediction D. differentiability E. observability ANSWER and write the reason? aThe following table shows the three-period moving average and five-period moving average for monthly sales of Budget Furniture's during 2019. Moving averages of Budget Furniture's Time period Months Sales Three-period moving average (rounded off to Five-period moving average four decimals) R'millions 1 Jan 7 5.0000 6.2 February 5.6667 6.6 March 5 7.0000 B 4 April 8.3333 8.2 May 7 9.3333 8.4 June 8.3333 9.6 7 July 12 8.6667 9.6 August 4 A 9.2 September 10 10.6667 10 October 13 10.6667 11 November 9 12 December 10 The seasonal index for the month of February in 2019 is: LO
- Explain these term Mixture of extreme value distribution. Modelling complex relationship between the variable. Lifetime model. (Please explain in your own wording so I can easily understand)Cost Estimation Using High-Low; Graphs Lawson Advertising Agency is trying to persuadeKansas City Sailboards Company to spend more on advertising. The agency’s argument is that a constant and strong positive relationship exists between advertising and sales in the sailboard industry.Sue Lawson presents these data taken from industry data for stores similar in size and market share toKansas City Sailboards:Advertising Expense Annual Sales$2,500 $ 96,000 3,000 110,0003,500 124,0004,000 138,0004,500 143,0005,000 147,0005,500 150,000Required1. Use the high-low method to estimate the relationship between increased advertising and sales.2. Graph annual sales and advertising expense.3. Do the data prove Sue’s point?You are performing the model evaluation of a classifier you trained. The objective of the classifier to predict if the customer will purchase the given item. You are able to derive the confusion matrix on the testing data. What is the value of False Positive ? Actual Predicted Yes No Yes 425 80 No 112 859 Group of answer choices 425 112 80 859