Probability Problem Set
Concepts & Distributions
Chapters 2 & 3
P-1 If you toss a single die, what is the probability that the number facing up is 1, 2, or 3
OR the number facing up is an even number?
P-2 If you toss two dice and add the numbers facing up

Kevins Review
Test 1
QMB 3600
2010
Summer
1. True or False: If events A and B are independent, then P(A or B) = P(A) + P(B)
a. True
b. False
2. A purchasing agent placed a rush order for a particular raw material with two different
suppliers, K and S. If

Probability Problem Set Chapter 2
P-1 If you toss a single die, what is the probability that the number facing up is 1, 2, or 3
OR the number facing up is an even number?
P-2 If you toss two dice and add the numbers facing up, what is the probability that

Question 1
0.5 out of 0.5 points
The following is a regret table.
What decision should be made based on the minimax regret criterion?
Selected
Answer:
Alternative 3
Answers:
Alternative 3
Alternative 1
State of Nature C
Alternative 1 or
Alternative 3
Alt

Question 1
0.5 out of 0.5 points
Use the table below which contains data on 1200 students in a law class. What percent of
the students failed the class?
GPA 0.0 - 2.0
100
200
300
Pass
Fail
Total
Selected
Answer:
Correct
Answer:
GPA 2.01 - 3.0
200
120
320

Question 1
0 out of 0.5 points
Use the table below which contains data on 1200 students in a law class. What percent of
the students have a GPA less than or equal to 2.0?
GPA 0.0 - 2.0
GPA 2.01 - 3.0
Pass
100
200
Fail
200
120
Total
300
320
Selected
Answe

Question 1
0 out of 0.5 points
A recent survey shows that the probability of a college student drinking alcohol is 0.6.
Further, given that the student is over 21 years old, the probability of drinking alcohol is 0.8.
It is also known that 30% of the col

QMB3600 Exam 1 Review
By Arturo Devesa
1. Ajax Company is considering manufacturing and marketing a new product. They will have to
spend $85,000 per year to provide a manufacturing line for this product no matter how many
units they produce and sell. Vari

Challenge Set 1
Challenge #1
90% of the colonists on Jupiter have been vaccinated against Jovian Influenza X.
3% of this vaccinated group gets the flu anyway. F|V=. 03
12% of the colonists get the flu. F=.12
Next create the table (use 3 decimal places) an

Challenge Set 1
Challenge #1
90% of the colonists on Jupiter have been vaccinated against Jovian Influenza X.
3% of this vaccinated group gets the flu anyway.
12% of the colonists get the flu.
Next create the table (use 3 decimal places) and answer the fo

Probability Distributions Challenge Set
Roulette Question #1
In Roulette there is a game called a 4-number bet or a square bet. I have also
heard it called 4 corners which means you bet on 4 numbers at a time.
You literally put your chip on the corner of

CHAPTER 1
MULTIPLE CHOICE
The quantitative
a.
b.
c.
d.
ANSWER:
TOPIC:
analysis approach requires
the managers prior experience with a similar problem.
a relatively uncomplicated problem.
mathematical expressions for the relationships.
each of the above is

Probability Examples
Contingency Table
Specific breakdown of categories
Also called crosstabulation
Ex: Table 2.1 on p.39
Creating a Joint Probability Table
100 Employees in a company
20 are Female employees
15 Females are <=30 years old
(75% of the femal

Review Test Submission: Quiz1
User
Course
Test
Started
Submitted
Status
Attempt Score
Time Elapsed
Results
Displayed
Mark Patton
QMB LC
Quiz1
8/30/15 7:12 PM
8/30/15 7:28 PM
Completed
2.5 out of 4 points
15 minutes out of 40
minutes
Submitted Answers
Ques

Review Test Submission: Quiz1
User
Course
Test
Started
Submitted
Status
Attempt Score
Time Elapsed
Results
Displayed
Mark Patton
QMB LC
Quiz1
8/30/15 6:28 PM
8/30/15 6:52 PM
Completed
1 out of 4 points
23 minutes out of 40
minutes
Submitted Answers
Questi

1
2
This diagram for Part 1 presents the special case of MULTIPLE OPTIMAL SOLUTIONS.
In order for multiple optimal solutions to exist:
The slope of the objective function line must be parallel to one of the constraint lines of the feasible region
In the a

Introduction to Forecasting
In making strategic decisions under uncertainty, we all make forecasts. We may not think
that we are forecasting, but our choices will be directed by our anticipation of results of
our actions or inactions. Indecision and delay

Exponential Smoothing: One of the most successful forecasting methods is the exponential
smoothing (ES). This is a very popular scheme to produce a smoothed Time Series.
Whereas in Moving Averages the past observations are weighted equally, Exponential
Sm

QMB3600 Solution to Homework-7
1. Expected value at node 4: We first have to determine the expected value at nodes 8 & 9
EV(node 8) = 0.125(30) + (0.875)50 = 3.75 + 43.75 = 47.50
EV(node 9) = 0.125(10) + (0.875)80 = 1.25 + 70.00 = 71.25
The higher of thes

QMB 3600 Homework - 4
For each of the following problems show your work and clearly explain your
reasoning for your answer.
Problem 1
Lights-R-Us manufactures a large variety of specialty illumination equipment. One of their
most successful products is th

QMB 3600 Homework -3
Problem - 1:
MSA Electronics is experimenting with the manufacture of a new type of
semiconductor chip that is very difficult to mass produce.
Every hour, a supervisor takes a random sample of 5 chips produced on the
assembly line. Pa

Problem Set 2
Money and Banking
FAU
Instructor: Margarita Rubio, PhD
1. Locate in the map the twelve Federal Reserve Banks.
2. Central Banks, transparency and credibility
(a) The Fed reports the minutes of the FOMC meetings. Read the last available minute

QMB 3600
Homework #8
You must use the graph paper posted on Blackboard for this homework. Use an entire graph paper page
for each of the 2 parts of this homework. If you do not use graph paper, you will NOT get credit.
-A golf bag manufacturer is consider

Department of Economics Fall Semester 2016 Official Syllabus
ECO4704 001
11145
Economics of International Trade
Fall 2016 Term
FL 429 / Boca Campus
Mondays: 2-4:50pm
Professor Information
Name: Nick Bergan
Office Address: Kaye Hall
Email address: nbergan1

QMB3600 HW-10
The scenario is the same as for HW-9. The questions are from the topic sensitivity in Linear
Programming:
A refrigerator manufacturer makes 3 models: Mini, Standard, and Large. Upon
selling these products, the profit realized per unit is:
Mi

QMB3600 Solution to HW #6
PROBLEM-1
Problem 2
D1: decision that Alpha builds NEW FACILITY
D2:
S1: state of nature Mega copies Alphas model S2:
P:
probability of S1 (1-P): probability of S2
decision that Alpha OUTSOURCES
state of nature Mega does not enter