A financial talk show host claims to have a 71.4 % success rate in his investment...
A financial talk show host claims to have a 71.4 % success rate in his investment recommendations. You collect some data over the next few weeks, and find that out 10 recommendations, he was correct 3 times. If the claim is correct and the performance of recommendations is independent, what is the probability that you would have observed 4 or fewer successful recommendations out of 10?
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A financial talk show host claims to have a 71.4 % success rate
in his investment...
(1 point) A man claims to have extrasensory perception (ESP). As a test, a fair coin...
(1 point) A man claims to have extrasensory perception (ESP). As a test, a fair coin is flipped 26 times, and the man is asked to predict the outcome in advance. He gets 23 out of 26 correct. What is the probability that he would have done at least this well if he had no ESP Hint: If he has no ESP, then he's just randomly guessing, right? If he is randomly guessing, what should you use as p, the...
Bob claims to have ESP. To test this claim, you propose the following experiment. You will select one card from 4 large cards with different geometric figures and Bob will try to identify it. Let...
Bob claims to have ESP. To test this claim, you propose the following experiment. You will select one card from 4 large cards with different geometric figures and Bob will try to identify it. Let p denote the probability that Bob is corect in identifying the figure for a single card. You believe that Bob has no ESP ability, so you believe that p.25. However, there is a small chance that p is either larger or smaller than .25. After...
Scenario #1: Kenny is ready to implement the investment policy portion of his financial plan. After...
Scenario #1: Kenny is ready to implement the investment policy portion of his financial plan. After months of dragging his feet, he began by allocating into a well-diversified portfolio that his financial planner artfully crafted for him, across a myriad of asset classes. Days after he invested into his portfolio, in accordance with his long-term goals and risk profile, the stock market suffered a big drop. The economy wasn’t in peril, or even a recession, but the market just experienced...
1. A salesperson has successes on 2 out of 10 cold calls. What is the probability...
1. A salesperson has successes on 2 out of 10 cold calls. What is the probability of getting 3 successes in 9 cold calls? 2. If the probability of success on a cold call is .20, and 500 cold calls are made, what is the probability of less than 84.5 successes? (use normal distribution to approximate the binomial, so need mean = np and st.dev = sqrt(npq) ) 3. In the past, the probability of success of a cold call...
Who cares about personal integrity in business ethics? It has become something of an institution for...
Who cares about personal integrity in business ethics? It has become something of an institution for you to go out drinking with friends on Friday night. However, on this particular Friday night, you not feeling so great. Yes, you are holding an expensive cocktail in your hand, with some of your best mates around, all very much up for a big night out. Your best friend from college, Peter, will be arriving any minute now. You are a regional marketing...
Scenario: Disability Insurance Claims Handling at InsureIT We consider the following business pro...
Scenario: Disability Insurance Claims Handling at InsureIT We consider the following business process for handling insurance claims for disability insurance[1] at an insurance company InsureIT. The process starts when a customer lodges a disability claim. To do so, the customer fills in a form including a 2-page questionnaire describing the disability. The customer can submit the form physically at one of the branches of InsureIT, by postal mail, fax or simply via e-mail (digitally-signed document). When a claim is received,...
Can Dogs Understand Human Cues? EXPLORATION Dogs have been domesticated for about 14,000 years. In that...
Can Dogs Understand Human Cues? EXPLORATION Dogs have been domesticated for about 14,000 years. In that time, have they been able to develop an understanding of human gestures such as pointing or glancing? How about simi lar nonhuman cues? Researchers Udell, Giglio, and Wynne tested a small number of dogs in order to answer these questions. In this exploration, we wll first see whether dogs can understand human gestures as well as nonhuman gestures. To test this, the researchers positioned...
Case 23.2 – An Ethical Dilemma Scenario: Beta Computers is experiencing financial difficulties attributed to declining sales...
Case 23.2 – An Ethical Dilemma Scenario: Beta Computers is experiencing financial difficulties attributed to declining sales of its mainframe computer systems. Several years ago, the company obtained a large loan from Midland State Bank. The covenants of the loan agreement strictly state that if Beta is unable to maintain a current ratio of 3:1, a quick ratio of 1:1, and a return on assets of 12 percent, the bank will exercise its right to liquidate the company’s assets in settlement...
Jack Adam’s mind wandered as he sat outside Bill Squire’s office awaiting his yearly performance review…...
Jack Adam’s mind wandered as he sat outside Bill Squire’s office awaiting his yearly performance review… [Jack thinking.] Well, it’s 8:25. Five more minutes to go. Fifteen years with the company, and this new district manager, Squire, couldn’t even call and request this meeting personally. These annual performance appraisals are tough enough, and here I’ve got a bad sales record for the past 12 months. Surely he’ll be able to understand that the sales decreases were a result of the...
Most people fail to recognize the importance of networking and negotiating to their career success. People...
Most people fail to recognize the importance of networking and negotiating to their career success. People who are good at networking tend to form better human relations with key individuals who can help them in advancing their professional careers. People who are good at negotiating have a better chance of getting what they truly desire. One’s ability to negotiate affects his or her compensation in the workplace. Negotiating Women, Inc. is a consulting company that focuses on women exclusively by...
(1 point) A man claims to have extrasensory perception (ESP). As a test, a fair coin is flipped 26 times, and the man is asked to predict the outcome in advance. He gets 23 out of 26 correct. What is the probability that he would have done at least this well if he had no ESP Hint: If he has no ESP, then he's just randomly guessing, right? If he is randomly guessing, what should you use as p, the...
Bob claims to have ESP. To test this claim, you propose the following experiment. You will select one card from 4 large cards with different geometric figures and Bob will try to identify it. Let p denote the probability that Bob is corect in identifying the figure for a single card. You believe that Bob has no ESP ability, so you believe that p.25. However, there is a small chance that p is either larger or smaller than .25. After...
Can Dogs Understand Human Cues? EXPLORATION Dogs have been domesticated for about 14,000 years. In that time, have they been able to develop an understanding of human gestures such as pointing or glancing? How about simi lar nonhuman cues? Researchers Udell, Giglio, and Wynne tested a small number of dogs in order to answer these questions. In this exploration, we wll first see whether dogs can understand human gestures as well as nonhuman gestures. To test this, the researchers positioned...
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