E(Decision alternative 1) =0.2*22+0.5*21+0.3*35 =25.4
E(Decision alternative 2) =20.8
E(Decision alternative 3) =21.1
E(Decision alternative 4) =27.6
from above maximum value for all alternatives are for alternative 4
therefore correct option is: Decision alternative 4
Question 19 (1 point) Using the EVUll method, which decision alternative would you choose? 9 State...
Question 38 (1 point) Using EVUII, which Decision Alternative would you chose? State Nature Good Poor 0.2 33 of Average 0.5 26 29 Decision Alternative Probabilities Decision Alternative 1 Decision Alternative 2 Decision Alternative 3 Decision Alternative 4 0.3 18 31 18 15 NNN 16 23 11 1) Decision Alternative 1 2) Decision Alternative 2 3) Decision Alternative 3 4) Decision Alternative 4 action 2011 point) ✓ Saved Question 4 (1 point) Build the Opportunity Loss (Regret) table for the...
QUESLUIT AU PRIL Consider the following payoff table: DA: Decision Alternative. State of Nature Decision Alternative Good Bad Probabilities 0.6 0.4 IDAI 5 -3 DA2 3 2 What is the expected value of perfect Information (EVPI)? (Please keep 1 decimal for your answer) Your Answer: Answer Question 17 (1 point) What will be the MAPE (Mean Absolute Percent Error) of the table below? (Round your answer to 2 decimal places, keep in decimal format) Three period moving average Period Sales($millions)...
Time Left Question 25 11 point) Bases on the EVU method, which decision alternative would you choose? Average Nature Od O 24 + Decision Alternative Poba bocion Amet Decon Amatve 2 becon Alternate 3 Decision Amatved 31 2 20 27 1 10 1) Decision Alternative 1 2) Decision Alternative 2 3) Decision Alternative 3 4) Decision Alternative 4 6 Question 3 (1 point) What will be the seasonal index for Quarter 3 if sales in 4 quarters in order are:...
please reply fast for a thumbs up?? What is the best decision alternative using the MaxiMin criterion? State of nature Decision Alternative Poor Average Good Decision Alternative 1 17 12 28 Decision Alternative 2 15 10 18 Decision Alternative 3 16 11 13 Decision Alternative 4 18 11 22 1) Decision Alternative 1 2) Decision Alternative 2 3) Decision Alternative 3 4) Decision Alternative 4 Question 17 (1 point) A restaurant prepares 190 sandwiches and sells them at a rate...
State of Nature Alternatives A B C Alternative 1 100 120 180 Alternative 2 200 100 50 Alternative 3 120 140 120 Do Nothing 0 0 0 The probabilities for states of nature A, B, and C are 0.3, 0.5, and 0.2, respectively. If a perfect forecast of the future were available, what is the expected value of perfect information (EVPI)?
Decision State-of-Nature 1 State-of-Nature 2 State-of-Nature 3 State-of-Nature 4 Alternative 1 10 0 5 25 Alternative 2 0 35 65 0 Alternative 3 5 20 50 35 Alternative 4 15 0 10 20 Construct the regret table using the table above. S1 S2 S3 S4 A1 A2 A3 A4
Question 2 A decision maker faced with four decision alternatives and four states of nature develops the following profit payoff table. States of Nature Decision alternative S_1 S_2 S_3 S_4 d_1 14 9 10 5 d_2 11 10 8 7 d_3 9 10 10 11 d_4 8 10 11 13 (a) State and use the average payoff strategy to choose the best decision. (3 Marks) (b) State and use the aggresive strategy to choose the best decision. (3 Marks) (c)...
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 1 (1 point) The error in the forecast for Period 5 when Three period moving average forecast method is used:(Please round to 2 decimals for your answer which looks like 0.52) 3-Period MA Forecast Error Absolute Absolute Percent Error Error Squared Error X(Period) Y(Sales) 1 3 2 6.1 3 10.7 4 5.0 5 17 16 12 7 Your Answer: Answer Question 2 (1 point) ✓ Saved What will be the demand without seasonal impact if the actual demand is...
The following payoff table shows the profit for a decision problem with two states of nature and two decision alternatives State of Nature Decision Alternative 1 2 d1 10 1 d2 (a) Suppose P(s1)-0.2 and P(sz)-0.8. What is the best decision using the expected value approach? Round your answer in one decimal place v, with an expected value of The best decision is decision alternative d2 3.2 (b) Perform sensitivity analysis on the payoffs for decision alternative di. Assume the...