Solutions to Case Problems Manual to Accompany
An Introduction To
Management Science
Quantitative Approaches
To Decision Making
Twelfth Edition
David R. Anderson
University of Cincinnati
Dennis J. Sweeney
University of Cincinnati
Thomas A. Williams
Roches
Suppose that you were getting ready to run a production lot of 10,000 pieces and knew that the profit on each item was $1 and that each faulty product would cost $5 to replace (you
ship all items that are produced). How much would you be willing to pay to
Read chapter 7,8, 9 of Devore
Make a table of the important equations in these chapters and what they are used for. This is a
good chance to practice the equation editor if you want, otherwise do it by hand and scan it. (0.4
points)
An investor is interes
The efficiency ratio for a steel specimen immersed in a phosphating tank is the weight of the phosphate coating, divided by the metal loss.
Plot and analyze the data. What are your conclusions? Make predictions of both individual values and of averages of
Nilay Mehta
1860522081
Payoff Table:
a.
State of the World
A
Actions
1
2
3
4
B
-50
30
10
-10
C
80
40
30
-50
D
20
70
-30
-70
E
100
20
10
-20
0
50
40
200
a. We find that action 3 is inadmissibe and we eliminate that from taking into consideration.
Loss Tabl
Q2.
Does the function f(x)=2x/3 for -1<=x<=2, 0 elsewhere satisfy the two requirements of a density function? Show why or why not. (0.1 points)
1.5
The given function must satisfy the following two properties:
1 f(x) >= 0 for all values of x
1
2 Integral
Read Section 3.1 of Chapter 3 of Winkler. One half page on what you thought about the presentation of the material in this
chapter. (0.2 points)
The section 3.1 of chapter 3 explains the Bayesian Inference for Discrete Probability Models.
Basically, the p
Q9.
Prior Probability of r from Q26
0.3659
0.146
0.0332
a)
0.450622156
0 defective
ACTION
1 defective
2500
2400
Don't Adjust
Adjust
Under present info:
ER(Don't adjust)=
ER(Adjust)=
0.0041
0.0002
STATE OF WORLD
2 defectives 3 defectives 4 defectives 5 def
1. Read Chapters 1 and 2 of Winkler. A friend of yours has asked you what you read for this course this week.
Your friend is neither a scientist nor an engineer, nor does he/she have any background in statistics or
probability. In one page, how would you
ISE 500
GEZA BOTTLIK
Fall 2016
MIDTERM
10/04/2016
DO YOUR WORK ON THIS HANDOUT. THIS WILL EXPEDITE THE GRADING OF THE
PAPERS.
NAME_
TEST GRADE_
Please read the problems carefully and provide the information requested and only the
information requested in