If you are conducting an experiment where the probability of a success is .02 and you are interested in the probability of 4 successes in 15 trials, the correct probability function to use is the
a. standard normal probability density function
b. normal probability density function
c. Poisson probability function
d. binomial probability function
d
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In terms of advertising allocation, a pulsating schedule is best for products that have:
A) steady sales throughout the year B) peak seasons but do sell throughout the entire year C) peak seasons at certain times in the year and are not purchased at all during other times of the year D) a high level of fluctuating demand
In the ERC’s survey of 6,400 for-profit employees about organization culture, what percentage said that their organization had either a strong or a strong-leaning ethical culture?
a. 15 percent b. 66 percent c. 24 percent d. 43 percent
What decision would be made under maximax?
An investor is consider four different opportunities, A, B, C, or D. The payoff for each opportunity will depend on the economic conditions, represented in the payoff table below. Economic Condition Poor Average Good Excellent Investment (S1) (S2) (S3) (S4) A 50 75 20 30 B 80 15 40 50 C -100 300 -50 10 D 25 25 25 25
Refer to the data on Expected Demand for Acme Widgets. Based on the Hurwicz criterion, what is the payoff for the “do nothing” option if you used the coefficient of realism of 0.6?
a. $45.20 million
b. $16.44 million
c. $57.00 million
d. $33.42 million