c. The college believes it can increase tuition to $25,000, but doing so would reduce enrollment to 50. Should the college consider doing this?

7. The following probabilities for grades in management science have been determined based on past records:

Grade Probability A 0.1 B 0.2 C 0.4 D 0.2 F 0.10 1.00

The grades are assigned on a 4.0 scale, where an A is a 4.0, a B a 3.0, and so on. Determine the expected grade and variance for the course.

8. An investment firm is considering two alternative investments, A and B, under two possible future sets of economic conditions good and poor. There is a .60 probability of good economic conditions occurring and a .40 probability of poor economic conditions occurring. The expected gains and losses under each economic type of conditions are shown in the following table:

Investment

Economic Conditions Good Poor A $380,000 -$100,000 B $130,000 $85,000

Using the expected value of each investment alternative, determine which should be selected.

9. The weight of the bags of fertilizer is normally distributed, with a mean of 45 pounds and a standard deviation of 5 pounds. What is the probability that a bag of fertilizer will weigh between 38 and 50 pounds?

10. The polo Development Firm is building a shopping center. It has informed renters that their rental spaces will be ready for occupancy in 18 months. If the expected time until the shopping center is completed is estimated to be 15 months, with a standard deviation of 5 months, what is the probability that the renters will not be able to occupy in 18 months?

Subject | Business |

Due By (Pacific Time) | 10/12/2015 10:00 am |

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