Decision Theory, calculus assignment help

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Decision Theory, calculus assignment help

Answer both of the following Roman numeral questions (I, II). Equal credit.

I..A company has fixed cost of $60,000, variable cost per unit of $15, and sells its product at$18 each.

a.What quantity must the firm sell in order to break even?

b.What quantity must the firm sell in order to make a profit of $50,000?

II. There are two more assignments in a class before its end, and if you get an A on at least one of them, you will get an A for the semester. Your subjective assessment of your performance is

Event

Probability

A on paper and A on exam

.25

A on paper only

.15

A on exam only

.20

A on neither

.40

a. What is the probability of getting an A on the exam?

b. What is the probability of getting an A in the course?