An office building has four copier machines that require the administrative assistant to replenish the paper supply when the paper bin is empty.
It is believed that the need for paper for a copier on any given day follows the binomial distribution with p = 0.50. The following data represent the number of days that 0, 1, 2, 3, or 4 copiers needed paper replenished from a random sample of 100 business days.Number of Copiers Needing Paper Frequency0 91 372 253 224 7The expected number of days from this sample that exactly one copier needed to be replenished is ________.A) 6.25
B) 15.5
C) 18.25
D) 25.0
Q. 2The produce manager for a grocery store needs to decide how many heads of lettuce to order each day. A head of lettuce sells for 1.20 and costs the grocery store 0.75. Any unsold lettuce at the end of the day is donated to charity.
If the manager purchases 100 heads of lettuce for tomorrow and demand for lettuce that day is 250 heads, the profit will be ________.A) 68
B) 0
C) 45
D) 113
Q. 3________ is used when we have probability information for each state of nature. in the field of decision analysis.
A) Decision making under probability
B) Decision making under risk
C) Decision making under certainty
D) Decision making under uncertainty
Q. 4________ is the procedure of choice when we have no information about the probability for each state of nature in the field of decision analysis.
A) Decision making under probability
B) Decision making under risk
C) Decision making under certainty
D) Decision making under uncertainty
Q. 5________ are the consequences of the alternatives chosen given the states of nature that eventually occur.in the field of decision analysis.
A) States of nature
B) Alternatives
C) Outcomes
D) Payoffs
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