A contractor is planning to pour concrete on Monday morning, but he has heard a weather forecast that rain is expected. The probabilities of rain are 0.8 on Monday, 0.6 on Tuesday, 0.3 on Wednesday, and 0.1 on Thursday and each succeeding day for five days. If it rains on the day that concrete is poured, there will be an immediate 50,000 damage cost and a delay of five days in the construction schedule. For every day of delay, 20,000 is lost. The delay cost applies even if it is the contractor who decides to delay the pour.
Required:
a. Determine on which day the concrete should be poured.
b. What is the associated expected cost?
Answers: 2
Another question on Business
Business, 22.06.2019 05:30
Find a company that has followed a strong strategic direction- state that generic strategy and the back-up points to support your position.
Answers: 1
Business, 22.06.2019 06:00
List three careers that require knowledge of science. list three careers that require the use of of math. list three careers that require the use of foreign language. list three careers that require the use of good writing skills. list three careers that require the use of good computer skills.
Answers: 3
Business, 22.06.2019 14:40
In the fall of 2008, aig, the largest insurance company in the world at the time, was at risk of defaulting due to the severity of the global financial crisis. as a result, the u.s. government stepped in to support aig with large capital injections and an ownership stake. how would this affect, if at all, the yield and risk premium on aig corporate debt?
Answers: 3
Business, 22.06.2019 21:30
Russell's study compared gpa of those students who volunteered for academic study skills training and those who did not elect to take the training. he found that those who had the training also had higher gpa. with which validity threat should russell be most concerned?
Answers: 2
You know the right answer?
A contractor is planning to pour concrete on Monday morning, but he has heard a weather forecast tha...
Questions
English, 14.07.2019 23:00
Mathematics, 14.07.2019 23:00
Advanced Placement (AP), 14.07.2019 23:00
History, 14.07.2019 23:00
Physics, 14.07.2019 23:00
Business, 14.07.2019 23:00
Health, 14.07.2019 23:00
Mathematics, 14.07.2019 23:00
History, 14.07.2019 23:00
Health, 14.07.2019 23:00
