A garden centre is selling a box containing 40 daffodil bulbs and 60 narcissi bulbs. The likelihood of a daffodil bulb flowering is 0.8 and 90% of the narcissi bulbs are expected to flower. Draw a tree diagram to demonstrate these events and calculate the probabilities of all possible outcomes of these two events. Check […]
Develop a decision tree or decision-tree chart to solve Guy Josobo’s dilemma. At each decision node, select the best decision alternative for both the manufacture and outsource choices. Determine the state of probabilities for all the demands: low demand is .30, medium demand is .45, and high demand is .25. Using your decision tree and […]
2. You and your sister have just inherited a house worth 2+x millions, where x is the last digit of your student number. You both negotiate your shares of the inheritance according to the following protocol: You make an initial offer. Your sister either accepts the initial offer or makes a counteroffer. Then, you either […]
