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"Video Tech is considering marketing one of two new video games for the coming holiday season: Battle Pacific or Space Pirates. Battle Pacific is a unique game and appears to have no competition. Estimated profits (in thousands of dollars) under high, medium, and low demand are as follows:
Video Tech is optimistic about its Space Pirates game. However, the concern is that profitability will be affected by a competitor’s introduction of a video game viewed as similar to Space Pirates. Estimated profits (in thousands of dollars) with and without competition are as follows:
Use sensitivity analysis to determine what the probability of competition for Space Pirates would have to be for you to change your recommended decision alternative."
The following number of robberies was reported during the last 10 days to the robbery division of the Metro City Police: 10, 8, 8, 7, 8, 5, 8, 5, 4, and 7. Develop an appropriate control chart. Determine the mean number of robberies reported per day and determine the control limits. Are there any days when the number of robberies reported is out of control?