What is the EMV for Option 1 in the following decision table? States of Nature...
| States of Nature | ||
|---|---|---|
| Alternatives | S1 | S2 |
| P | .3 | .7 |
| Option 1 | 15,000 | 20,000 |
| Option 2 | 10,000 | 30,000 |
Homework Answers
A) 18,500
For Option 1
S1 = 0.3*15000
S2 = 0.7*20000
S1 + S2 = 0.3*15000 + 0.7*20000
= 4500+14000
= 18500
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What is the EMV for Option 1 in the following decision table?
States of Nature...
What is the EMV for Option 1 in the following decision table? States of Nature Alternatives...
What is the EMV for Option 1 in the following decision table? States of Nature Alternatives S1 S2 p 0.4 0.6 Option 1 10,000 30,000 Option 2 5,000 45,000 Option 3 -4,000 60,000 a. 10,000 b. 30,000 c. 20,000 d. 18,000 e. 22,000
1. The highest value for the equally likely criterions is ________; this occurs with alternative ______....
1. The highest value for the equally likely criterions is ________; this occurs with alternative ______. (1.5 pts) States of Nature Alternatives Option 1 S1 $10,000 S2 $30,000 Option 2 $5,000 $45,000 Option 3 $-4,000 $60,000 States of Nature Alternatives S1 S2 p 0.6 0.4 Option 1 200 300 Option 2 50 350 2. What is the EMV for Option 1 in the following decision table? 3. What is the EMV for Option...
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 s1 s2 d1 10 1 d2 4 3 (a...
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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 s1 10 4 S2 d1 d2 (a) Suppose P(S1)-0.2...
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For the following decision table, the highest value for the equally likely criterion is
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2. Assume you are faced with the following decision alternatives and two states of nature. The profit payoff table is shown below States of Nature Prob (S D1 D2 D3 S1 0.60 100 50 40 S2 0.40 20 50 80 Decision Alternatives a) Do you think undertaking a market research study, with a cost of 25, would be justified in this case? b) What should the probabilities of states 1 and 2 be that options D1 and D3 will have...
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...
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 s1 S2 101 4 (a) Suppose P(si)-0.2 and P(s2)-0.8. What is the best decision using the expected value approach? Round your answer in one decimal place. The best decision is decision alternative d2 v , with an expected value of 3.2 (b) Perform sensitivity analysis on the payoffs for decision alternative di. Assume the probabilities...
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 s1 10 4 S2 d1 d2 (a) Suppose P(S1)-0.2 ad P(s2)-0.8. What is the best decision using the expected value approach? Round your answer in one decimal place The best decision is decision alternative d2 , with an expected value of 3.2 (b) Perform sensitivity analysis on the payoffs for decision alternative d1. Assume the...
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...
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