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Suppose you are a manager at a ski resort in Utah. The ski resort collects and keeps data on the demand for ski rentals over the past several seasons.
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8. Question 8 This question relates to concepts covered in Sessions 3 and 4. You can use any of the excel files posted online to work through the Quiz. Suppose…
Calculate the 5 values of the monthly payments under the new plan corresponding to the data usage values shown in Q7. What is the sample mean, in $, for these payment values? Choose the closest answer from the choices below.
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8. Question 8 You can answer this question using only the information provided below. You can also use the file DataPlan10.xlsx we created in Session 2 to answer the question….
Consider the decision tree we constructed for IDEA in Session 1 of week 4. Assume that all of the data used in the example remain the same except for the probability of the market remaining weak or strong.
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1. Question 1 Consider the decision tree we constructed for IDEA in Session 1 of week 4. Assume that all of the data used in the example remain the same…
Referring to the scenario in Question 5, what is the expected value of John’s monthly payments, in $, under the new plan?
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6. Question 6 This question relates to the Data Plan Example covered in Sessions 1 and 2. The “old plan” refers to the “Family Share” plan, and the “new plan”…
Irrespective of feasibility, what will be the total shipping cost, in $, that KDGL would incur under the shipping plan described in Q8?
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9. Question 9 This question relates to the KDGL example introduced in Session 3, and tests your understanding of the algebraic model formulation. You can answer it without using Excel….
Suppose we have a data set containing n=100 data points with the following descriptive statistics: mean = 80, and standard deviation = 18. We believe that this data sample comes from a normal distribution. Which of the following choices would you use for forecasting or predicting future demand values?
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4. Question 4 This question relates to concepts covered in Lectures 1 & 2. You can use any of the excel files posted to work through the question. Suppose we…
