Interactive Management Science MS&E 107/207‚ Midterm Review The Flaw of the Averages Mindle 1 / Uncertainty vs. Risk * Risk is in the eye of the beholder * Risk reflects how uncertain outcomes cause loss or injury to a particular individual or group * Risk attitude measures the willigness to incur risk in the quest of reward * Different risks to the same uncertainty Mindle 2 / An uncertain number is a shape * A distribution * “Uncertain numbers” * Risk is subjective
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10 Science Questions Every High School Graduate 1. What percentage of the earth is covered by water? Answer: About 71 percent of the earth’s surface is covered by water. --Submitted by Robert Gagosian‚ Woods Hole Oceanographic Institute 2. What sorts of signals does the brain use to communicate sensations‚ thoughts and actions? Answer: The single cells in the brain communicate through electrical and chemical signals. --Submitted by Torsten Weisel‚ Rockefeller Institute‚ New York 3. Did
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According to the Rappler news agency‚ ship borne trade going through the South China Sea accumulates to “over $5 trillion.” For the past few years China built many unnatural islands in the South China Sea to continue spreading their borders. Scared of the loss of freedom of navigation the United States continues to send contentious into the South China Sea. While many people believe the United States controversial actions are only going to end up causing a war‚ the United States are just practicing
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Study guide (1-5) Chapter 1. Globalization: The shift toward a more interdependent and integrated global economy. International business: All cross-border exchanges of goods‚ services or resources between two or more nations. Strategic management: The body of knowledge that answers questions about the development and implementation of good strategies; mainly concerned with the determinants of firm performance. Entrepreneurship: The recognition of opportunities (needs‚ wants‚ problems‚ challenges)
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Introduction to Data Management and File management Most computers are used for data processing‚ as a big growth area in the “information age” Data processing from a computer science perspective: Storage of data Organization of data Access to data Processing of data Data Structures vs File Structures Both involve: Representation of Data + Operations for accessing data Difference: Data structures: deal with data in the main memory File structures: deal with the data in
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Investment Science Chapter 3 Dr. James A. Tzitzouris 3.1 Use A= 1− rP 1 (1+r)n with r = 7/12 = 0.58%‚ P = $25‚ 000‚ and n = 7 × 12 = 84‚ to obtain A = $377.32. 3.2 Observe that since the net present value of X is P ‚ the cash flow stream arrived at by cycling X is equivalent to one obtained by receiving payment of P every n + 1 periods (since k = 0‚ . . . ‚ n). Let d = 1/(1 + r). Then ∞ P∞ = P k=0 (dn+1 )k . Solving explicitly for the geometric series‚ we have that P∞ = Denoting
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alarming case of dengue in the country is spreading widely and their innocent victims are continued to rise. Many companies‚ NGO’S‚ even the DOH (Department of Health) were alarmed by the rapid increase of the dengue carrying mosquitoes. Department of Science and Technology (DOST) continues to develop possible solution in this critical situation. Filipinos are terrified with this. DOST and DOH continue to search any alternatives to solve this problem. Eucalyptus and lemon grass are one of the specimens
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Chapter 1 hindsight bias - Tendency to believe that after learning an outcome‚ that we would’ve foreseen it. Once we’re told something‚ it seems obvious. hindsight bias and overconfidence often lead us to overestimate our intuition scientific inquiry‚ curious skepticism‚ and humility can help shift to reality critical thinking - thinking that doesn’t blindly accept arguments and conclusions. Rather‚ it examines assumptions‚ discerns hidden values‚ evaluates evidence‚ and assesses conclusions
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beast was mentioned again. We see this later at the meeting in chapter 5‚ when one of the littluns mentions the rest of the littluns are still scared of the beast. The biguns again try to dismiss it as the younger children having an overactive imagination‚ but then when they fail to prove them wrong‚ like failing to create a proper vaccine or treatment for a disease‚ they to become infected with fear. Now‚ with the fear
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Chapters 18-1 & 18-2 Review Section 1 Review – 1. List six forms of renewable energy‚ and compare the advantages and disadvantages of each. Pros: 1) Passive solar heating may hold a great advantage for a homeowner if there is reliable sunlight that is able to shine into the home and create warmth. Also‚ it will reduce energy bills in their liquid even when the sun is not shining. 3) Wind power is cheap‚ clean energy that is the average household. 2) Active solar heating systems have the
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