Mathematical Methods for Agricultural Risk Assessment
| Description: This quiz is designed to assess your understanding of Mathematical Methods for Agricultural Risk Assessment. It covers various aspects of agricultural risk assessment, including probability distributions, statistical methods, and decision analysis. | |
| Number of Questions: 14 | |
| Created by: Aliensbrain Bot | |
| Tags: agricultural risk assessment probability distributions statistical methods decision analysis |
What is the probability of obtaining a yield of at least 100 bushels per acre if the yield distribution is normally distributed with a mean of 120 bushels per acre and a standard deviation of 20 bushels per acre?
A farmer is considering two different crop varieties, A and B. Variety A has a yield distribution with a mean of 100 bushels per acre and a standard deviation of 20 bushels per acre. Variety B has a yield distribution with a mean of 120 bushels per acre and a standard deviation of 30 bushels per acre. Which variety has the lower risk of yield loss?
A farmer is considering two different irrigation systems, A and B. System A has a fixed cost of $10,000 and a variable cost of $10 per acre-inch of water. System B has a fixed cost of $15,000 and a variable cost of $5 per acre-inch of water. At what level of water usage (in acre-inches) does System B become more cost-effective than System A?
A farmer is considering two different pest control strategies, A and B. Strategy A has a 90% chance of being effective and costs $10 per acre. Strategy B has a 70% chance of being effective and costs $5 per acre. If the farmer's expected yield loss due to pests is $20 per acre, which strategy should the farmer choose?
A farmer is considering two different crop rotation systems, A and B. System A has a 10% chance of resulting in a yield loss of 20%, a 30% chance of resulting in a yield increase of 10%, and a 60% chance of resulting in no change in yield. System B has a 20% chance of resulting in a yield loss of 30%, a 40% chance of resulting in a yield increase of 20%, and a 40% chance of resulting in no change in yield. Which system has the lower risk of yield loss?
A farmer is considering two different marketing strategies, A and B. Strategy A has a 60% chance of resulting in a price of $10 per bushel, a 30% chance of resulting in a price of $8 per bushel, and a 10% chance of resulting in a price of $6 per bushel. Strategy B has a 40% chance of resulting in a price of $12 per bushel, a 40% chance of resulting in a price of $10 per bushel, and a 20% chance of resulting in a price of $8 per bushel. Which strategy has the higher expected price?
A farmer is considering two different investment opportunities, A and B. Investment A has a 70% chance of yielding a return of 10%, a 20% chance of yielding a return of 5%, and a 10% chance of yielding a return of -5%. Investment B has a 50% chance of yielding a return of 15%, a 30% chance of yielding a return of 10%, and a 20% chance of yielding a return of 0%. Which investment has the higher expected return?
A farmer is considering two different insurance policies, A and B. Policy A has a premium of $100 and a deductible of $500. Policy B has a premium of $150 and a deductible of $250. If the farmer's expected loss is $400, which policy should the farmer choose?
A farmer is considering two different loan options, A and B. Loan A has an interest rate of 5% and a repayment period of 10 years. Loan B has an interest rate of 6% and a repayment period of 5 years. If the farmer needs to borrow $100,000, which loan should the farmer choose?
A farmer is considering two different irrigation systems, A and B. System A has a fixed cost of $10,000 and a variable cost of $5 per acre-inch of water. System B has a fixed cost of $15,000 and a variable cost of $3 per acre-inch of water. At what level of water usage (in acre-inches) does System B become more cost-effective than System A?
A farmer is considering two different crop varieties, A and B. Variety A has a yield distribution with a mean of 100 bushels per acre and a standard deviation of 20 bushels per acre. Variety B has a yield distribution with a mean of 120 bushels per acre and a standard deviation of 30 bushels per acre. Which variety has the higher probability of yielding at least 125 bushels per acre?
A farmer is considering two different pest control strategies, A and B. Strategy A has a 90% chance of being effective and costs $10 per acre. Strategy B has a 70% chance of being effective and costs $5 per acre. If the farmer's expected yield loss due to pests is $20 per acre, which strategy should the farmer choose?
A farmer is considering two different crop rotation systems, A and B. System A has a 10% chance of resulting in a yield loss of 20%, a 30% chance of resulting in a yield increase of 10%, and a 60% chance of resulting in no change in yield. System B has a 20% chance of resulting in a yield loss of 30%, a 40% chance of resulting in a yield increase of 20%, and a 40% chance of resulting in no change in yield. Which system has the lower risk of yield loss?
A farmer is considering two different marketing strategies, A and B. Strategy A has a 60% chance of resulting in a price of $10 per bushel, a 30% chance of resulting in a price of $8 per bushel, and a 10% chance of resulting in a price of $6 per bushel. Strategy B has a 40% chance of resulting in a price of $12 per bushel, a 40% chance of resulting in a price of $10 per bushel, and a 20% chance of resulting in a price of $8 per bushel. Which strategy has the higher expected price?