530 is the best decision
=250*0.3+750*0.4+500*0.3 = 525
=300*0.3+-250*0.4+1200*0.3 = 350
=500*0.3+500*0.4+600*0.3 = 530
3.13 pts D Question 15 A payoff table is given below and the probabilities of s1,...
A payoff table is given as State of Nature Decision s1 s2 s3 d1 250 750 500 d2 300 - 250 1200 d3 500 500 600 a. What choice should be made by the optimistic decision maker? b. What choice should be made by the conservative decision maker? c. What decision should be made under minimax regret? d. If the probabilities of d1, d2, and d3 are .2, .5, and .3, respectively, then what choice should be made under expected...
Question 13 5 pts A payoff table is given below and the probabilities of S1, S2, and Sg are 0.20,0.50, and 0.30, respectively. Using the table below, what is the expected value without perfect information? States of Nature Decision 1 2 3 А 250 750 500 B 300 -250 1200 с 500 500 O 835 295 575 O 260 530
The payoff table for a maximization problem is given below. Decision Alternative State of nature, s1 State of nature, s2 d1 8 10 d2 0 6 d3 5 0 d4 14 5 What is the recommended decision alternative using the conservative approach? d1 d4 d2 d3
The following payoff table shows the profit for a decision problem with 2 states and 3 decisionalternatives. Determine the range of the probabilities for state s1 for which it would be optimal to choosedecision d1.Statesd1d2d3s18410s21012-2
D Question 16 3.13 pts Given the following table of proft payoffs using sensitivity analysis at what probability or less would you select decision 2 States of Nature Decision s1 S2 d1 8 10 d2 4 16 d3 10 0 0.60 O 0.17 0.40 O 0.80 O 0.83
Three decision makers have assessed payoffs for the following decision problem (payoff in dollars). Decision Alternative State of Nature s1 s2 s3 d1 15 40 –20 d2 60 80 –80 The indifference probabilities are as follows: Indifference Probability (p) Payoff Decision Maker A Decision Maker B Decision Maker C 80 Does not apply Does not apply Does not apply 60 0.7 0.95 0.85 40 0.5 0.9 0.7 15 0.3 0.8 0.55 –20 0.15 0.6 0.35 –80...
Question 5 5 pts Use the table below to determine the expected value of perfect information. The probabilities for the states of nature are s1-0.20, s2-0.30 and s3-0.50 State of Nature s2 10,000 -5,000 15,000 15,000 9,000 10,000 20,0005,000 10,000 11,0004,000 15,000 s1 S3 Decision d1 d2 d3 d4 10700 d4 11,000 -4,00015 O 10,700 O 5,400 O 3,800 3,500 O 14,200 Question 5 5 pts Use the table below to determine the expected value of perfect information. The probabilities...
Question 18 3.13 pts Below is a portion of a decision tree. If the probability of s1 - 0.40, what is the value at node 5. S1 P(S1)100 D1 10 S2 P(S2) 250 No Research 1 PS1300 D2 S2 P(S2) 200 O 160 O 260 O 180 O 320 O 240 Question 18 3.13 pts Below is a portion of a decision tree. If the probability of s1 - 0.40, what is the value at node 5. S1 P(S1)100 D1...
Problem 13-01 (Algorithmic) The following payoff table shows profit for a decision analysis problem with two decision alternatives and three states of nature: State of Nature Decision Alternative 210 130 75 130 280 75 a. Choose the correct decision tree for this problem 210 210 di S1 S1 280 280 130 130 S2 130 130 d2 d2 75 75 di S3 75 (iv) 130 210 S2 210 di S1 130 75 S2 130 210 210 S1 di $1 130 75...
The following payoff table shows profit for a decision analysis problem with two decision alternatives and three states of nature: State of Nature Decision Alternative S1 S2 S3 d1 250 100 25 d2 100 100 75 The probabilities for the states of nature are P(s1) = 0.65, P(s2) = 0.15, and P(s3) = 0.20. (a) What is the optimal decision strategy if perfect information were available? S1 : - Select your answer -d1d2d1 or d2Item 1 S2 : - Select...