The operations manager for a local bus company wants to decide whether he should purchase a small, medium, or large new bus for his company. he estimates that the annual profits (in $000) will vary depending upon whether passenger demand is low, moderate, or high, as follows:
bus demand low medium high
small 50 60 70
medium 40 80 90
large 20 50 120
prior probability 0.3 0.3 0.4

what is the expected annual profit for the bus that he will decide to purchase using bayes’ decision rule?

Which of the following statements about the relationship between economic costs and accounting costs is true? multiple choice accounting costs are equal to or greater than economic costs. accounting costs must always equal economic costs. accounting costs are always greater than economic costs. accounting costs are always less than or equal to economic costs.

Which of the following are considered needs? check all that apply

In june, one of the processinthe assembly department started the month with 25,000 units in its beginning work in process inventory. an additional 310,000 units were transferred in from the prior department during the month to begin processing in the assembly department. there were 30,000 units completed and transferred to the next processing department during the month. how many units the assembly department started the month with 25,000 units in its beginning work in process inventory. an additional 310,000 units were transferred in from the prior department during the month to begin processing in the assembly department. there were 30,000 units completed and transferred to the next processing department during the month. how many units were in its ending work in process inventory