1,https://www.youtube.com/watch?time_continue=8&v=RXY-WN0ahiw
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)
Sample Solution