Based on the following payoff table, answer the following: High Medium Low 20 5 25 11 13 12 Alternative A BC8 в с D E 50 40 Prior Probability 0.3 0.2 The expected value of perfect information is: O -28. O 0. O 23. O 19. 20 30 30 12 10 12 O 10.5. -28 0.5
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- A. A company wants to produce a souvenir with a marketing life of six months. Uncertainty surrounds the likely sales volume as well as the fixed costs of the venture as shown below: Sales units Probability Contrn. /unit Probability Fixed cost K7 K5 100 000 0.3 80 000 0.6 60 000 0.1 1.0 0.5 0.5 1.0 Determine the expected value of the contribution K400 000 K450 000 K500 000 Probability 0.2 0.5 0.3 1.03. The manager for a manufacturing company must recommend whether to construct a large plant, construct a small plant or do nothing. He estimates the long-run profits in $ as follows: State of Nature Alternative Good Average Poor Market($) Market ($) Market ($) Construct a 100,000 35,000 -60,000 large plant Construct a 75,000 25,000 -40,000 small plant Do nothing -5,000 0 0 Probability 25% 50% 25% Solve using: A. Expected Opportunity Loss B. Expected Value of Perfect InformationA company wants to produce a souvenir with a marketing life of sixmonths. Uncertainty surrounds the likely sales volume as well as thefixed costs of the venture as shown below:Sales units Probability Contrn. /unit Probability Fixed cost Probability100 000 0.3 K 7 0.5 K400 000 0.2 Page 5 of 80 000 0.6 K 5 0.5 K450 000 0.560 000 0.1 K500 000 0.31.0 1.0 1.0 Determine the expected value of the contribution
- A manager is going to purchase new processing equipment and must decide on the number ofspare parts to order with the new equipment. The spares cost $200 each, and any unused spareswill have an expected salvage value of $50 each. The probability of usage can be described by thisdistribution:Number 0 1 2 3Probability .10 .50 .25 .15If a part fails and a spare is not available, two days will be needed to obtain a replacementand install it. The cost for idle equipment is $500 per day. What quantity of spares should beordered?a. Use the ratio method.b. Use the tabular method (see Table 13.3).An expensive piece of equipment is used in the masking operation for semi-conductor manufacture. A capacitor in the equipment fails randomly. The capacitor cost $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 of Service 1 2 3 4 5 6 Probability of Failure 0.08 0.12 0.16 0.26 0.22 0.16 How often should the capacitors be replaced in order to minimize the expected monthly cost of planned and unplanned replacement?1. What is the most the real estate investor would be willing to pay for additional information? Use Minimum Expected Regret (Minimum EOL) 2. Use the alternative method to verify EVPI
- Stocks A and B have the following probability distributions ofexpected future returns:Probability A B0.1 (10%) (35%)0.2 2 00.4 12 200.2 20 250.1 38 45a. Calculate the expected rate of return, r⁄B, for Stock B (r⁄A =12%).b. Calculate the standard deviation of expected returns, σA, for Stock A (σB =20.35%).Now calculate the coefficient of variation for Stock B. Is it possible that most investorswill regard Stock B as being less risky than Stock A? Explain.c. Assume the risk-free rate is 2.5%. What are the Sharpe ratios for Stocks A and B? Arethese calculations consistent with the information obtained from the coefficient ofvariation calculations in part b? ExplainThe Valley Wine Company purchases grapes from either of two nearby grape growers each season to produce a particular red wine. It purchases enough grapes to produce 3000 bottles of the wine. Each grower supplies a certain portion of poor quality grapes, resulting in a percentage of bottles being used as fillers for cheaper table wines according to the following probability distribution. Probability of Percent Defective Defective (%) Grower A Grower B 2 .15 .30 4 .20 .30 6 .25 .20 8 .30 .10 10 .10 .10 The two growers charge a different prices for their grapes and because of differences in taste, the company charges different prices for their wine depending on which grapes they use. The annual profit from the wine produced from each grower's grapes for each percentage defective is as follows. PROFIT DEFECTIVE GROWER A GROWER B 2% $44,200 $42,600 4 40,200 40,300 6 36,200 38,000 8 32,200 35,700 10 28,200 33,400 Use decision-tree…The water pump company has succeeded in introducing a water pump that saves electricity, is easy to install, and is durable (guaranteed). Its high quality has given the company an early edge in the local and national markets, but the entry of highly skilled competitors may occur within the next 3 years. Assume that the income and expense relationship of the company is as follows: TR = 22000Q - 15.6Q2 MR = dTR / dQ = 22000 - 31.2Q TC = 300000 + 4640Q + 10Q2 MC = dTC / dQ = 4640 + 20Q Where TR is income (in thousands of rupiah), Q is quantity (in units), MR is marginal income (in thousands of rupiah), TC is total cost, including a risk-adjusted normal rate of return on investment (in thousands of rupiah), and MC is the marginal cost (in thousands of rupiah). a. Compute: the profit-maximizing price-output combination. b. Compute: long-run equilibrium high-price / low-output. c. Compute: long-run low-price / high-output equilibrium
- The number of hybrid cars that have be requested for rental from a car rental office during a 50 day sample period is given in the following table. Demand for Cars Number of Days Probability 3 3 0.06 4 7 0.14 5 12 0.24 6 14 0.28 7 10 0.20 8 4 0.08 50 1.00What is the expected (mean) number of hybrid rentals per day? Compute to one decimal place.Please provide the probability as Probability has not been provided for question b and c. As you know the Probabilty should allways be between 0 and 1 thank you!Sami Abbasi Health Food stocks five loaves of Vita-Bread. The probability distribution for the sales of VitaBread is listed in the following table. How many loaves will Sami sell on the average?Number of Loaves Sold Probability0 .051 .152 .203 .254 .205 .15