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Unit 8: Decision Analysis II Conditional Probabilities Dining Chez Tethys: The Market Research Problem Joint and Marginal Probabilities Summary...

should be able to click on 43.7 and see the mathematical process in the fx-bar. This is the expectation on the course final as well as the expectation on the homework. Students are required to show they know how to arrive at correct answers using Excel, functions and or via applicable utility serving as the mathematical evidence.
Unit 8: Decision Analysis II Conditional Probabilities Dining Chez Tethys: The Market Research Problem Joint and Marginal Probabilities Summary Conditional Probabilities Summary Statistical Independence Statistical Dependence Summary Conditional Probabilities in Decision Analysis Summary Exercise 1: Captain Ahab Fisheries Exercise 2: Mutually Exclusive and Collectively Exhaustive The Value of Information The Expected Value of Perfect Information Summary The Expected Value of Sample Information Summary Updating Prior Probabilities Summary Solving the Market Research Problem Exercise 1: The FUD Grocery Chain Exercise 2: PPD Immunity Risk Analysis Introducing Risk Summary Risk Attitudes Summary Solving the Market Research Problem (II) Exercise 1: The Frivolous Lawsuit of D. Pitt At left you will see an outline of the topics covered in Unit 8: Decision Analysis II. There are two homework problems associated with this unit. There is one tab for each problem in this workbook. Once you have completed the unit online, you should attempt these problems and submit them to your coach for assessment and feedback.
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Purchased DVR Purchased Plasma Screen Yes No Total Plasma Screen 38 42 80 Not Plasma Screen 70 150 220 Total 108 192 300 In a survey done by the local Better Buy store, questions were asked of 300 households that actually purchased big-screen televisions. The table at left indicates the consumer's responses to whether the television purchased was a plasma screen and whether they also purchased a DVR in the past 12 months. Q-1a: What is the probability that a randomly selected big-screen television purchase in this sample is a purchase of a plasma- screen television? Q-1b: What is the probability that a randomly selected household that purchased a big screen television purchased a plasma- screen AND a DVR? Q-1c: What is the probability that a randomly selected household purchased a DVR, given that the household purchased a plasma- screen television?
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This question was asked on Jan 15, 2013.

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