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Question 6 Based on a payoff table for a local marketing firm the tooingation . The...
The following payoff table provides profits based on various possible decision alternatives and various levels of...
The following payoff table provides profits based on various possible decision alternatives and various levels of demand with probabilities of different demands: States of Nature Demand Alternatives Low Medium High Alternative A 80 120 140 Alternative B 70 90 100 Alternative C 30 60 120 Probability 0.4 0.3 0.3 What will be the expected value of perfect information (EVPI) for this situation?
Based on the following payoff table, the expected value of perfect information is: Alternative Yes No Small 10 30 Medium 20 40 Medium Large 30 45 Large 40 35...
Based on the following payoff table, the expected value of perfect information is: Alternative Yes No Small 10 30 Medium 20 40 Medium Large 30 45 Large 40 35 Extra Large 60 20 Prior Probability 0.3 0.7 a). 4.5 b). 9 c). 40.5 d). 49.5 e). 60
3.2) The following payoff table provides profits based on various possible decision alternatives and various levels...
3.2) The following payoff table provides profits based on various possible decision alternatives and various levels of demand. States of Nature Demand Alternatives Alternative 1 Alternative 2 Alternative 3 Low Medium High 75 90 50 120 90 70 140 90 120 The probability of a low demand is 0.4, while the probability of a medium demand is 0.4 and high demand is 0.2 (a) What decision would an optimist make? (b) What decision would a pessimist make? (c) What is...
The following payoff table provides profits based on various possible decision alternatives and various levels of...
The following payoff table provides profits based on various possible decision alternatives and various levels of demand at Robert Klassan's print shop: Decision Low High Alternative 1 $10,000 $30,000 Alternative 2 $6,000 $38,000 Alternative 3 -$2,500 $50,000 The probability of low demand is 0.350.35, whereas the probability of high demand is 0.650.65. A) The alternative that provides Robert the greatest expected monetary value (EMV) Which alternative? The decision is $? B) The EMV for this decision is $ (enter your...
u Question 6 10 pts The following is a payoff table giving profits for various situations....
u Question 6 10 pts The following is a payoff table giving profits for various situations. Alternatives Alternative 1 Alternative 2 Alternative 3 Do Nothing States of Nature A B с 100 120 180 200 100 50 120 140 120 0 0 0 The probabilities for states of nature A, B, and Care 0.3, 0.5, and 0.2, respectively. What is the expected value with perfect information (EVwPI)? 0 130 O 160 O 166 O 36 O126
The below payoff table gives profits from several decision alternatives and two different levels of demand....
The below payoff table gives profits from several decision alternatives and two different levels of demand. Decision Alternative 1 Alternative 2 Alternative 3 Demand Low High $10,000 $36,000 $6,000 $42,000 -$2,000 $52,000 The probability of low demand is 0.35, whereas the probability of high demand is 0.65. a) The alternative that provides the greatest expected monetary value (EMV) is The EMV for this decision is $(enter your answer as a whole number). b) The expected value with perfect information (EVWPI)...
The following payoff table provides profits based on various possible decision alternatives and various levels of...
The following payoff table provides profits based on various possible decision alternatives and various levels of demand with probabilities of different demands: States of Nature Demand Alternatives Low Medium High Alternative A 80 120 140 Alternative B 70 90 100 Alternative C 30 60 120 Probability 0.4 0.3 0.3 What will be the expected value of perfect information (EVPI) for this situation? 2. Given the following gasoline data: Quarter Year 1 Year 2 1 95 105 2 85 95 3...
QUESTION 9 Table 14-16 The table represents the demand information for a firm in a competitive...
QUESTION 9 Table 14-16 The table represents the demand information for a firm in a competitive market Quantity Total Revenue 8 $120 $135 10 $150 11 $165 12 $180 13 $195 Refer to Table 14-16. For this firm, when output is equal to 12 units, average revenue is a. always greater than marginal revenue. b. $15. c. $150 d. decreasing
The following payoff table provides profits based on various possible decision alternatives and various levels of...
The following payoff table provides profits based on various possible decision alternatives and various levels of demand at Amber Gardner's software firm: Demand Level 0.70 0.30 Low High Alternative A $12,500 $30,000 B $7,500 $41,000 C ($2,000) $50,000 *Profits in $ thousands Using Excel, create an X,Y plot the expected-value lines for the three alternatives on a graph. Label the graph completely and clearly. (5 pts) Is there any alternative that would never be appropriate in terms of maximizing expected...
Question 13 5 pts A payoff table is given below and the probabilities of S1, S2,...
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
3.2) The following payoff table provides profits based on various possible decision alternatives and various levels of demand. States of Nature Demand Alternatives Alternative 1 Alternative 2 Alternative 3 Low Medium High 75 90 50 120 90 70 140 90 120 The probability of a low demand is 0.4, while the probability of a medium demand is 0.4 and high demand is 0.2 (a) What decision would an optimist make? (b) What decision would a pessimist make? (c) What is...
u Question 6 10 pts The following is a payoff table giving profits for various situations. Alternatives Alternative 1 Alternative 2 Alternative 3 Do Nothing States of Nature A B с 100 120 180 200 100 50 120 140 120 0 0 0 The probabilities for states of nature A, B, and Care 0.3, 0.5, and 0.2, respectively. What is the expected value with perfect information (EVwPI)? 0 130 O 160 O 166 O 36 O126
The below payoff table gives profits from several decision alternatives and two different levels of demand. Decision Alternative 1 Alternative 2 Alternative 3 Demand Low High $10,000 $36,000 $6,000 $42,000 -$2,000 $52,000 The probability of low demand is 0.35, whereas the probability of high demand is 0.65. a) The alternative that provides the greatest expected monetary value (EMV) is The EMV for this decision is $(enter your answer as a whole number). b) The expected value with perfect information (EVWPI)...
QUESTION 9 Table 14-16 The table represents the demand information for a firm in a competitive market Quantity Total Revenue 8 $120 $135 10 $150 11 $165 12 $180 13 $195 Refer to Table 14-16. For this firm, when output is equal to 12 units, average revenue is a. always greater than marginal revenue. b. $15. c. $150 d. decreasing
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
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