27. Blossom\'s Flowers purchases roses for sale for Valentine\'sDay. The roses a

Question

27. Blossom's Flowers purchases roses for sale for Valentine'sDay. The roses are purchased for $10 a dozen and are sold for $20 adozen. Any roses not sold on Valentine's Day can be sold for $5 perdozen. The owner will purchase 1 of 3 amounts of roses forValentine's Day: 100, 200, or 400 dozen roses. If the probabilityof selling 100 dozen roses is 0.2 and 200 dozen roses is 0.5, thenthe probability of selling 400 dozen roses is

A)0.7
B)0.5
C)0.2
D)0.3

28. TABLE 17-2

The following payoff matrix is given in dollars.



Suppose the probability of Event 1 is 0.5 and Event 2 is 0.5.


Referring to Table 17-2, the EVPI is

A)600
B)400
C)0
D)300

29. TABLE 18-1

A local newspaper has 10 delivery boys who each deliver the morningpaper to 50 customers every day. The owner decides to record thepercentage of papers delivered on time for a 10-day period andconstruct a p chart to see whether the percentage is tooerratic.





Referring to Table 18-1, which expression best characterizes thep chart?

A)increasing trend
B)cycles
C)in-control
D)individual outliers

30. One of the morals of the red bead experiment is

A)only management can change the system.
B)variation is part of the process.
C)it is the system that primarily determines performance.
D)all of the above

Explanation / Answer

27.D) 0.3 28.A) 600 29.C) in-control 30.C) it is the system that primarily determines performance.

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