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Online Course Support | Operations Analytics

For this question, consider the following decision problem. A decision maker must choose one of three actions: A, B, or C. The outcome of each action is uncertain, as follows.
ByAdmin August 4, 2021August 4, 2021

8. Question 8 For this question, consider the following decision problem. A decision maker must choose one of three actions: A, B, or C. The outcome of each action is…

Read More For this question, consider the following decision problem. A decision maker must choose one of three actions: A, B, or C. The outcome of each action is uncertain, as follows.
Online Course Support | Operations Analytics

Consider the decision tree we constructed for IDEA in Session 1 of week 4. Assume that all of the data used in the example
ByAdmin August 4, 2021August 4, 2021

6. Question 6 Consider the decision tree we constructed for IDEA in Session 1 of week 4. Assume that all of the data used in the example – including the…

Read More Consider the decision tree we constructed for IDEA in Session 1 of week 4. Assume that all of the data used in the example
Online Course Support | Operations Analytics

Suppose that in a particular month the consultant’s data usage turned out to be 24GB. Let PFS be the amount, in $, she will have to pay for this data usage under the old plan and PSS be the amount, in $, she will have to pay for this data usage under the new plan. What is the value of the difference PSS – PFS?
ByAdmin August 4, 2021August 4, 2021

1. Question 1 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”…

Read More Suppose that in a particular month the consultant’s data usage turned out to be 24GB. Let PFS be the amount, in $, she will have to pay for this data usage under the old plan and PSS be the amount, in $, she will have to pay for this data usage under the new plan. What is the value of the difference PSS – PFS?
Online Course Support | Operations Analytics

Suppose that we set-up a simulation with n=5 simulation runs and used a different random seed to generate another 5 random instances of our consultant family’s data usage, in GB: 14.0, 21.7, 26.1, 22.1, 28.6. Calculate the corresponding 5 values of the monthly payments under the old plan. What is the sample standard deviation, in $, of these payment values? Choose the closest answer from the choices below.
ByAdmin August 4, 2021August 4, 2021

9. Question 9 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….

Read More Suppose that we set-up a simulation with n=5 simulation runs and used a different random seed to generate another 5 random instances of our consultant family’s data usage, in GB: 14.0, 21.7, 26.1, 22.1, 28.6. Calculate the corresponding 5 values of the monthly payments under the old plan. What is the sample standard deviation, in $, of these payment values? Choose the closest answer from the choices below.
Online Course Support | Operations Analytics

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.
ByAdmin August 4, 2021August 4, 2021

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….

Read More 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.
Online Course Support | Operations Analytics

Suppose that our consultant subscribes to the new data plan and, in a particular month, she has to pay $310 for her data usage under this plan. How much data, in GB, does she use in that month?
ByAdmin August 4, 2021August 4, 2021

4. Question 4 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”…

Read More Suppose that our consultant subscribes to the new data plan and, in a particular month, she has to pay $310 for her data usage under this plan. How much data, in GB, does she use in that month?
Online Course Support | Operations Analytics

Calculate the 5 values of the monthly payments under the new plan corresponding to the data usage values shown in Q9. What is the sample standard deviation, in $, for these payment values? Choose the closest answer from the choices below.
ByAdmin August 4, 2021August 4, 2021

10. Question 10 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….

Read More Calculate the 5 values of the monthly payments under the new plan corresponding to the data usage values shown in Q9. What is the sample standard deviation, in $, for these payment values? Choose the closest answer from the choices below.
Online Course Support | Operations Analytics

John Datum is another customer of the same wireless company. Just like our consultant, John is trying to compare the old plan and the new plan. Having looked at his past monthly data usage values, John, unlike our consultant, has decided to use a simple scenario approach to model his future data usage. In particular, John estimates that his monthly data usage Ū (in GB) can take one of three values, Ū1 = 15, Ū2 = 21 and Ū3 = 24, each value being equally likely (i.e., each having a probability of 1/3 associated with it). What is the expected value of John’s monthly payments, in $, under the old plan?
ByAdmin August 4, 2021August 4, 2021

5. Question 5 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”…

Read More John Datum is another customer of the same wireless company. Just like our consultant, John is trying to compare the old plan and the new plan. Having looked at his past monthly data usage values, John, unlike our consultant, has decided to use a simple scenario approach to model his future data usage. In particular, John estimates that his monthly data usage Ū (in GB) can take one of three values, Ū1 = 15, Ū2 = 21 and Ū3 = 24, each value being equally likely (i.e., each having a probability of 1/3 associated with it). What is the expected value of John’s monthly payments, in $, under the old plan?
Online Course Support | Operations Analytics

In one of the past months, our consultant had to pay $260 for her data usage under the old plan. How much, in $, would she have to pay for the same amount of monthly data usage under the new plan?
ByAdmin August 4, 2021August 4, 2021

3. Question 3 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”…

Read More In one of the past months, our consultant had to pay $260 for her data usage under the old plan. How much, in $, would she have to pay for the same amount of monthly data usage under the new plan?
Online Course Support | Operations Analytics

Suppose that, in evaluating the old and the new data plan for our consultant, we set-up a simulation with n=5 simulation runs and use Excel to generate the following random instances of her data usage, in GB: 14.6, 27.4, 19.6, 30.8 and 25.6. Calculate the corresponding 5 values of the monthly payments under the old plan. What is the sample mean, in $, of these payment values? Choose the closest answer from the choices below.
ByAdmin August 4, 2021August 4, 2021

7. Question 7 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….

Read More Suppose that, in evaluating the old and the new data plan for our consultant, we set-up a simulation with n=5 simulation runs and use Excel to generate the following random instances of her data usage, in GB: 14.6, 27.4, 19.6, 30.8 and 25.6. Calculate the corresponding 5 values of the monthly payments under the old plan. What is the sample mean, in $, of these payment values? Choose the closest answer from the choices below.

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