Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

& Problem A.23 Deborah Kellogg buys Breathalyzer test sets for the Denver Police Department. The quality of the test sets from her two suppliers is

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
& Problem A.23 Deborah Kellogg buys Breathalyzer test sets for the Denver Police Department. The quality of the test sets from her two suppliers is indicated in the following table Probability for Percent Probability for Winter Dayton Defective Park Technology Enterprises 1% 0.70 0.30 3% 0.20 0.35 5% 0.10 0.35 For example, the probability of getting a batch of tests that are 1% defective from Winter Park Technology is 0.70. Because Kellogg orders 12,000 tests per order, this would mean that there is a 0.70 probability of getting 120 defective tests out of the 12,000 tests if Winter Park Technology is used to fill the order. A defective Breathalyzer test set can be repaired for $0.60. Although the quality of the test sets of the second supplier, Dayton Enterprises, is lower, it will sell an order of 12,000 test sets for $37 less than Winter Park. a) The correct decision tree (with EMVS rounded to the nearest whole number for Deborah is shown in Figure 2 b) To maximize the return. Deborah's decision should be to Winter Park Technologies The EMV of selected alternative for Deborah = $(enter your answer as a whole number and include a minus sign il necessary). Enter your answer in the answer box and then click Check Answer All parts showing Clear A MacBook 0 esc 80 F3 000 000 F4 FS FG F1 F2 ! @ # % $ 4 1 2 3 5 6 11 of 14 (14 complete) FIGURE 1 1% D(0.70) Buy from Winter Park -72 3% D(0.20) - 130 -216 - 360 5% (0.10) - 130 1% D(0.30) -72 + $37 3% D0.20) -223 - 216 Buy from Dayton - 360 5% D(0.35) D = Defective Rate OK - 130 Clear All FIGURE 2 1% D(0.70) Buy from Winter Park - 72 3% D(0.20) - 130 -216 - 360 5% D(0.10) - 130 1% D(0.30) - 72 . 3% D(0.35) -223 - 216 + $37 Buy from Dayton - 360 5% D(0.35) D = Defective Rate OK - 130 Clear All FIGURE 3 1% D(0.70) Buy from Winter Park -72 3% D(0.20) 130 - 216 - 360 5% D(0.10) - 130 1% D(0.30) -72 + $37_(-223 3% DO.20) - 216 Buy from Dayton - 360 5% D(0.35) D = Defective Rate OK Clear All MacBOAir

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Times Guide To The Financial Markets

Authors: Glen Arnold

1st Edition

0273730002, 978-0273730002

More Books

Students also viewed these Finance questions