HW 5 (Chap 4) Req Solutions

HW 5 (Chap 4) Req Solutions - Solutions for the Required...

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for Homework #5 from Chapter 4 Required homework: Problems 13, 21, and 27 from Chapter 4. 13.Initially, using the classical concept, a probability of 0.20 would be assigned if the selection is equally likely. Data does not appear to confirm the belief of equal consumer preference. Using the relative frequency method based on the data, we would assign a probability of 5 / 100 = 0.05 to the design 1 outcome, 15 / 100 = 0.15 to design 2, 0.30 to design 3, 0.40 to design 4, and .10 to design 5. That is, Design Relative Frequency Probability 1 5/100 = 0.05 0.05 2 15/100 = 0.15 0.15 3 30/100 = 0.30 0.30 4 40/100 = 0.40 0.40 5 10/100 = 0.10 0.10 sum 10/100 = 1 1.00 This is a valid probability distribution. Design 4 is most probable and design 1 is least probable, with the other designs having differing probabilities within this range. The designs are not all equally likely to be selected. ASW 5e Chap 4 Req HW #5
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This note was uploaded on 02/19/2011 for the course OM 210 taught by Professor Singer during the Spring '08 term at George Mason.

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HW 5 (Chap 4) Req Solutions - Solutions for the Required...

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