1,
2,Most Small businesses lack disaster-recovery plan, survey finds
3,Sierra Nevada Brewery Issues 36 state Recall of Select Beers
Homework 3 (16 points)
- In the Suggested Video, “The Reason Casinos Always Win: Meet the Law of Large Numbers: (Topic 4 Suggested Videos)
- In “Most Small businesses lack disaster-recovery plan, survey finds” (Topic 5 Supplemental)
- In “Sierra Nevada Brewery Issues 36 state Recall of Select Beers” (Topic 5 Supplemental)
- What is the Expected Value of a single bet in Albert the Cat’s game? (2 points)
- Who is credited with concluding that the accuracy of a prediction goes up as the sample size increases? (2 points)
- If there are 80 tosses of a coin in Albert the Cat’s game, how many chips will the casino likely win? (2 points)
- Name three risk control actions companies can take to prepare for a disaster that are discussed in the article. (3 points)
- What insurance related actions are recommended? (2 points)
- What type of risk did the company identify here? (1 point)
- If the company made and sold 40,000 bottles of Sierra Nevada Pale Ale before stopping production, how many claims could it expect given the information in the article? (2 points)
- What risk control technique did the firm practice after it became aware of the defect? (2 points)