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Transrail is bidding on a project that it figures will cost $400,000 to perform. Using a 25% markup, it will charge $500,000, netting a profit of $100,000. However, ithas been learned that another company, Rail Freight, is also considering bidding on the project. If Rail Freight does submit a bid, it figures to be a bid about$470,000. Transrail really wants this project and is considering a bid with only a 15% markup to $460,000 to ensure winning regardless of whether...
This is the same payoff table used in questions 2-4. Below is a payoff table that lists four mortgage options: Decision 1-year ARM 3-year ARM 5-year Arm 30-year fixed Rates Rise $66,645 $62,857 $55,895 $52,276 Outcomes Rates Stable $43,650 $47,698 $50,894 $52,276 Rates Fall $38,560 $42,726 $48,134 $52.276 5) What is the best payoff rate for the 1-year ARM? CA. $66,645 B. $49,618 C. $43,650 D. $38,560
Given is a decision payoff table and a Sub Decision Payoff Table. Use Minimax Regret as an evaluation criterion to evaluate alternatives. Future Demands Alternatives Low Moderate High Small Facility 170 180 200 Medium Facility 160 200 220 Large Facility -40 210 310 Alternatives Worst Regrets Small Facility ? Medium Facility ? Large Facility ? a) The worst regrets for alternative Small Facility is __________ b) The worst regrets for alternative Medium Facility is ___________ c) The worst regrets for...
Given is a decision payoff table and a Sub Decision Payoff Table. Use Minimax Regret as an evaluation criterion to evaluate alternatives. Future Demand Alternatives Low Moderate High Small Facility 8 9 11 Medium Facility 6 11 12 Large Facility -6 10 20 Alternatives Worst Regrets Small Facility ? Medium Facility ? Large Facility ? a) The worst regrets for alternative Small Facility is b) The worst regrets for alternative Medium Facility is c) The worst...
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
Payoff Table (Profits in Thousands) States of Nature Decisions A B C Small Building 600 550 630 Medium Building 410 570 520 Large Building 540 460 575 Show your detail work step by step calculating which decision is best using the Minimax Regret approach. #2) Cost Table (Costs in Thousands) States of Nature Decisions A B Small Order 840 780 Large Order 810 800 Explain which decision is best by showing your detail work step by step using the Expected Value (EV) approach with the State of Nature A having a 65% probability and State of Nature B...
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Given is a decision payoff table and a Sub Decision Payoff Table. Use Minimax Regret as an evaluation criterion to evaluate alternatives, Alternatives Low Small Facility 53 Medium Facility 51 Large Facility -13 Future Demand Moderate 50 51 37 High 49 50 51 Alternatives Small Facility Medium Facility Large Facility Worst Regrets ? ? ? a) The worst regrets for alternative Small Facility is b) The worst regrets for alternative Medium Facility is c) The worst...
QUESTION 1 Given is a decision payoff table and a Sub Decision Payoff Table. Use Minimax Regret as an evaluation criterion to evaluate alternatives. High Future Demand Low Moderate 18 20 35 -10 31 31 Alternatives Small Facility Medium Facility Large Facility 15 21 35 Alternatives Worst Regrets ? Small Facility Medium Facility Large Facility ? ? a) The worst regrets for alternative Small Facility is b) The worst regrets for alternative Medium Facility is c) The worst regrets for...