# Question: In Exercise 19 12 there is a 0 1 chance that a

In Exercise 19.12, there is a 0.1 chance that a train will be using the railroad crossing. Given this information, which route should Fred select, and what is the expected number of minutes his trip will require? What is the expected number of minutes Fred would save if he could predict with certainty whether a train will be at the crossing?

In exercise

When Fred takes the direct route to work, he gets there in 30 minutes if no train is at the railroad crossing. When a train is using the crossing, his travel time is 15 minutes longer. His alternative is a route that takes 40 minutes to travel, but has no traffic signals or other delays.

In exercise

When Fred takes the direct route to work, he gets there in 30 minutes if no train is at the railroad crossing. When a train is using the crossing, his travel time is 15 minutes longer. His alternative is a route that takes 40 minutes to travel, but has no traffic signals or other delays.

**View Solution:**## Answer to relevant Questions

In Exercise 19.13, if x is the probability that the shipment is lost, for what value of x will the alternatives have the same EMV? Assuming this value for x, what is the expected value of perfect information? In exercise An ...In Exercise 19.12, with a probability of 0.1 that a train will be using the crossing, compute the expected opportunity loss for each of Fredâ€™s alternatives. Explain the meaning of the EOL for each alternative. In ...For a given perishable product, a retailer pays $5 for each unit, then sells them for $10 each. At the end of the day, units not sold at the store are disposed of, and the retailer receives just $1 for each. Given the ...Having been injured while trying to use his rotary lawn mower as a snowblower, a consumer has sued the company and is offered the chance to settle out of court. If the case goes to trial, the jury could award him either ...What is just-in-time manufacturing, and how does it contribute to total quality management?Post your question