Mat540 week 2 home work

Don't use plagiarized sources. Get Your Assignment on
Mat540 week 2 home work
Just from $13/Page
Order Now

 MAT540 Week 2 Home Work

 8. A local real estate investor in Orlando is considering three alternative investments: a motel, a

restaurant, or a theater. Profits from the motel or restaurant will be affected by the availability

of gasoline and the number of tourists; profits from the theater will be relatively stable under

any conditions. The following payoff table shows the profit or loss that could result from each


Gasoline Availability

Investment Shortage Stable Supply Surplus

Motel $_8,000 $15,000 $20,000

Restaurant 2,000 8,000 6,000

Theater 6,000 6,000 5,000

Determine the best investment, using the following decision criteria.

a. Maximax

b. Maximin

c. Minimax regret

d. Hurwicz

e. Equal likelihood


16. A concessions manager at the Tech versus A&M football game must decide whether to have the

vendors sell sun visors or umbrellas. There is a 30% chance of rain, a 15% chance of overcast skies,

and a 55% chance of sunshine, according to the weather forecast in College Junction, where the

game is to be held. The manager estimates that the following profits will result from each decision,

given each set of weather conditions:

Weather Conditions

Decision Rain Overcast Sunshine

.30 .15 .55

Sun visors $_500 $_200 $1,500

Umbrellas 2,000 0 _900

a. Compute the expected value for each decision and select the best one.

b. Develop the opportunity loss table and compute the expected opportunity loss for each decision.

24. In Problem 13 the Place-Plus real estate development firm has hired an economist to assign a probability

to each direction interest rates may take over the next 5 years. The economist has determined

that there is a .50 probability that interest rates will decline, a .40 probability that rates will remain

stable, and a .10 probability that rates will increase.

a. Using expected value, determine the best project.

b. Determine the expected value of perfect information.

32. The director of career advising at Orange Community College wants to use decision analysis to

provide information to help students decide which 2-year degree program they should pursue. The

director has set up the following payoff table for six of the most popular and successful degree programs

at OCC that shows the estimated 5-year gross income ($) from each degree for four future

economic conditions:

Economic Conditions

Degree Program Recession Average Good Robust

Graphic design 145,000 175,000 220,000 260,000

Nursing 150,000 180,000 205,000 215,000

Real estate 115,000 165,000 220,000 320,000

Medical technology 130,000 180,000 210,000 280,000

Culinary technology 115,000 145,000 235,000 305,000

Computer information

technology 125,000 150,000 190,000 250,000

Determine the best degree program in terms of projected income, using the following decision


a. Maximax

b. Maximin

c. Equal likelihood

d. Hurwicz



36. Construct a decision tree for the decision situation described in Problem 25 and indicate the best



Calculate your paper price
Pages (550 words)
Approximate price: -

Why Choose Us

Quality Papers

At, we always aim at 100% customer satisfaction. As such, we never compromise o the quality of our homework services. Our homework helpers ensure that they craft each paper carefully to match the requirements of the instruction form.

Professional Academic Writers

With, every student is guaranteed high-quality, professionally written papers. We ensure that we hire individuals with high academic qualifications who can maintain our quality policy. These writers undergo further training to sharpen their writing skills, making them more competent in writing academic papers.

Affordable Prices

Our company maintains a fair pricing system for all academic writing services to ensure affordability. Our pricing system generates quotations based on the properties of individual papers.

On-Time delivery

My Homework Writers guarantees all students of swift delivery of papers. We understand that time is an essential factor in the academic world. Therefore, we ensure that we deliver the paper on or before the agreed date to give students ample time for reviewing.

100% Originality maintains a zero-plagiarism policy in all papers. As such, My Homework Writers professional academic writers ensure that they use the students’ instructions to deliver plagiarism-free papers. We are very keen on avoiding any chance of similarities with previous papers.

Customer Support 24/7

Our customer support works around the clock to provide students with assistance or guidance at any time of the day. Students can always communicate with us through our live chat system or our email and receive instant responses. Feel free to contact us via the Chat window or support email:

Try it now!

Calculate the price of your order

You will get a personal manager and a discount.
We'll send you the first draft for approval by at
Total price:

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Homework Writing Services

My Homework Writers holds a reputation for being a platform that provides high-quality homework writing services. All you need to do is provide us with all the necessary requirements of the paper and wait for quality results.


Essay Writing Services

At My Homework Writers, we have highly qualified academic gurus who will offer great assistance towards completing your essays. Our homework writing service providers are well-versed with all the aspects of developing high-quality and relevant essays.


Admission and Business Papers

With, we will help you secure a position at your desired institution. Our essay writing services include the crafting of admissions papers. We will still help you climb your career ladder by helping you write the official papers that will help you secure a job. We will guide you on how to write an outstanding portfolio or resume.


Editing and Proofreading has a professional editorial team that will help you organize your paper, paraphrase it, and eliminate any possible mistakes. Also, we will help you check on plagiarism to ensure that your final paper posses quality and originality.


Technical papers

My Homework Writers harbors professional academic writers from diverse academic disciplines. As such, we can develop homework writing services in all academic areas. The simplicity or complexity of the paper does not affect the quality of homework writing services.