Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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Chapter 8.8, Problem 16P
Summary Introduction
To determine: Whether evolutionary solver find the correct solution.
Introduction: The variation between the present value of the
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Long-Life Insurance developed a linear model to determine the amount of term life insurance a family of four should have, based on the head of the household's current age.
The equation is: y = 163 -0.45xwherey = Insurance needed ($000)x = Current age of head of household
Calculate the amount of term life insurance you would recommend for a family of four if the head of the household is 53 years old. (Round your answer to 2 decimal places.)
with the information given draw a graph, On the x-axis, you would have the number of units sold (from 0 to 800,000 in increments of 100, 000) and on the y-axis, you would have the dollar amount (from 0 to $3,200,000 in increments of $
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MULTIPLE CHOICE QUESTIONS
An ecommerce company decides to send a gift voucher worth $1000 to a set of customers they believe would make a
purchase of at least $5000. They develop a model to identify potential customers who can make a purchase of $5000 if
we send the $1000 voucher. Which of the following is more critical about the model?
O False negative is worse than False positive if voucher amount crosses $5000
O Both False positive and negative are acceptable
O False positive is worse than a False negative
O False negative is worse than a False positive
Which of the following statements is TRUE?
O Tree based models are normally not affected by outliers
O Presence of outliers in the data has no effect on Regression models
O Standard scaler performs well on features that have outliers
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Chapter 8 Solutions
Practical Management Science
Ch. 8.3 - Prob. 1PCh. 8.3 - Prob. 2PCh. 8.4 - Prob. 3PCh. 8.4 - Prob. 4PCh. 8.4 - Prob. 5PCh. 8.5 - Prob. 6PCh. 8.5 - Prob. 7PCh. 8.5 - In the lawn mower production problem in Example...Ch. 8.6 - Prob. 9PCh. 8.6 - Prob. 10P
Ch. 8.6 - Prob. 11PCh. 8.6 - Prob. 12PCh. 8.7 - Prob. 13PCh. 8.7 - Prob. 14PCh. 8.8 - Prob. 15PCh. 8.8 - Prob. 16PCh. 8.8 - Prob. 17PCh. 8.8 - Prob. 18PCh. 8.8 - Prob. 19PCh. 8 - Prob. 20PCh. 8 - Prob. 21PCh. 8 - Prob. 22PCh. 8 - Prob. 23PCh. 8 - Prob. 24PCh. 8 - Prob. 25PCh. 8 - Prob. 26PCh. 8 - Prob. 27PCh. 8 - Prob. 28PCh. 8 - Prob. 29PCh. 8 - Prob. 30PCh. 8 - Prob. 31PCh. 8 - Prob. 32PCh. 8 - Prob. 33PCh. 8 - Prob. 34PCh. 8 - Prob. 35PCh. 8 - Prob. 36PCh. 8 - Prob. 37PCh. 8 - Prob. 38PCh. 8 - Prob. 39PCh. 8 - Prob. 1CCh. 8 - Prob. 2C
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