The probability of winning a major lottery is 2 out of 10,00…

The probability of winning a major lottery is 2 out of 10,000,000 or 2 x 10-7. A $1 ticket is purchased by our player.  Our player wins.  a)  What is the probability that our player will win next week? b) What is the probability that our play will win both weeks?

Determine if it’s wise to invest $100M to build a new plant…

Determine if it’s wise to invest $100M to build a new plant or to instead invest only $40M to upgrade an existing plant.  For each decision, the demand (which is the uncertainty) must be taken into consideration. Strong demand leads to $225M in revenue with the new plant but only $160M for the upgraded plant (due to capacity).   For the new plant, if weak demand occurs, revenue would  total 90M. To upgrade the plant, weak demand would generate 60M in revenue. There is a 60% chance for strong demand and a 40% chance for weak demand.  Be sure to state your decision based on the information contained in this problem.

PLEASE READ BEFORE STARTING: Even though it says that there…

PLEASE READ BEFORE STARTING: Even though it says that there are only are 23 questions on this exam there is actually a TOTAL of 62 questions.  Each question/image has either 2, 3 or 5 questions associated with it — SO make sure you READ each question carefully and answer ALL the questions on each image!  You have 45 minutes to complete this test. THIS IS A CLOSED BOOK/CLOSED NOTE TEST! The only time you may use your phone or tablet is as a timer OR to email me if you have questions about the exam or to notify me that you’re experiencing issues with Internet/Canvas/Proctorio.   My email address is agrygoruk@glendale.edu GOOD LUCK!!