Use the Following to Answer Question

question 18

Multiple Choice

Use the following to answer question:
-(Table: Choice with Uncertainty) Use Table: Choice with Uncertainty.Assume that the probability that the sitcom does not make it to television is 60%,the probability that it makes it to television but is not the most viewed show in its time slot is 30%,and the probability that it makes it to television and is the most viewed show in its time slot is 10%.Norman's expected income is:

• A)$52,500.
• B)$47,500.
• C)$40,000.
• D)$37,500.

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Definitions:

Correlated

The relationship between two or more variables where a change in one variable is associated with a change in another.

Exponential Smoothing

A statistical technique used in time series analysis to smooth data points and forecast future values, giving more weight to recent observations.

α

In inventory management and forecasting, α represents the smoothing constant used in exponential smoothing models, crucial for adjusting response rate to demand changes.

Historical Demand

Past data on customer purchases used for analyzing trends to forecast future demand.