The Alternatives 1 and 2 in the Following Payoff Table

question 32

Essay

The alternatives 1 and 2 in the following payoff table represent the two possible manufacturing strategies that the EKA manufacturing company can adopt.The level of demand affects the success of both strategies.The states of nature (S_I)represent the levels of demand for the company products.S₁,S₂ and S₃ characterize high,medium and low demand respectively.The payoff values are in thousands of dollars. The management believes that the weather conditions significantly affect the level of demand.48 monthly sales reports are randomly selected.These monthly sales reports showed 15 months with high demand,28 months with medium demand,and 5 months with low demand.12 of the 15 months with high demand had favorable weather conditions.14 of the 28 months with medium demand had favorable weather conditions.Only 1 of the 5 months with low demand had favorable weather conditions.
Construct the revised probability table for poor weather conditions and find the probability of high demand given that the weather conditions are poor.

Understand the relationships between electrical units (coulomb, ampere, ohm, volt, watt).

Explain the effects of resistance in a circuit.

Calculate current, voltage, and resistance in electrical circuits.

Recognize the safety functions and importance of grounding in electrical circuits.

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Definitions:

Liquefied Petroleum Gas

A flammable mixture of hydrocarbon gases used as fuel in heating appliances, cooking equipment, and vehicles, commonly known as LPG.

Butane

A gaseous hydrocarbon (C4H10) that is a constituent of natural gas and petroleum, used as a fuel and in the manufacture of organic compounds.

Propane

A flammable hydrocarbon gas used as a fuel for heating, cooking, and in some vehicles, also known as liquefied petroleum gas (LPG) when stored under pressure.

Natural Gas

A combustible hydrocarbon mainly made up of methane, utilized for generating heat, cooking food, and producing electricity.