The following is a payoff table giving profits for various situations: Alternatives A B C ...
The following is a payoff table giving profits for various situations:
| Alternatives | A | B | C | |
| Alternative 1 | 140 | 148 | 150 | |
| Alternative 2 | 221 | 123 | 125 | |
| Alternative 3 | 123 | 140 | 212 |
Question:
What decision would a pessimist make?
Homework Answers
Answer :
given data :-
we have a tabular form,
now we need to find out the pessimist make
that is,
Alternative 1,
since,
it has the least negative outcome = 140
pessimist make = 140
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The following is a payoff table giving profits for various
situations:
Alternatives
A
B
C
...
1. The following is a payoff table giving profits for various situations. Alternatives A B C...
1. The following is a payoff table giving profits for various situations. Alternatives A B C Alternative 1 120 140 120 Alternative 2 200 100 50 Alternative 3 100 120 180 Do Nothing 0 0 0 A recent forecast showed a 40% likelihood of A, a 10% likelihood of B, and a 50% likelihood of C. The decision criterion that now should be used to solve this problems is known as a. Equal Likelihood b. Expected Opportunity Loss c. Maximax...
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...
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 following is a payoff table giving profits for various situations. States of Nature Alternatives 100 12 Alternative 1 10 20 lternative 2 12 140 120 Alternative 3 Do Nothing The probabilities f...
The following is a payoff table giving profits for various situations. States of Nature Alternatives 100 12 Alternative 1 10 20 lternative 2 12 140 120 Alternative 3 Do Nothing 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 with this perfect information? C) 154 A) 130 D) 36 B) 160
The following is a payoff table giving profits...
The following is a payoff table giving profits for various situations. State 2 State 1 State...
The following is a payoff table giving profits for various situations. State 2 State 1 State 3 Probability 0.35 0.4 0.25 Alternative 1 52 42 75 Alternative 2 58 30 83 Alternative 3 23 55 82 Alternative 4 33 55 44 If a person were to use the expected monetary value criterion, what decision would be made? Alternative 1 Alternative 2 Alternative 3 Alternative 4
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?
. Verizon LTE 5:02 PM 94% Problem 1 The following is a payoff table giving profits...
. Verizon LTE 5:02 PM 94% Problem 1 The following is a payoff table giving profits for various situations States of Nature Do Nothing What decision would a pessimist make? What decision would an optimist make! What decision would be made based on the realism criterion, where the coefficient of realism is 0.707 d. What decision would be made based on the equally likely criterion? e. What decision would be made based on the minimax regret criterion? Suppose now that...
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...
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 Demand Decision Low Alternative 1 $10,000 $36,000 Alternative 2 $5,000 Alternative 3$2.000 $52.000 High $40,000 The probability of low demand ie 0.35, whoreas the probability of high demand is 0,65 a) The altermative that provides Robert the greatest expected monetary value (EMV) is Alternative 3 he EMIV for this decision is (enter your answer as a whole numbor,...
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...
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 following is a payoff table giving profits for various situations. States of Nature Alternatives 100 12 Alternative 1 10 20 lternative 2 12 140 120 Alternative 3 Do Nothing 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 with this perfect information? C) 154 A) 130 D) 36 B) 160
The following is a payoff table giving profits...
The following is a payoff table giving profits for various situations. State 2 State 1 State 3 Probability 0.35 0.4 0.25 Alternative 1 52 42 75 Alternative 2 58 30 83 Alternative 3 23 55 82 Alternative 4 33 55 44 If a person were to use the expected monetary value criterion, what decision would be made? Alternative 1 Alternative 2 Alternative 3 Alternative 4
. Verizon LTE 5:02 PM 94% Problem 1 The following is a payoff table giving profits for various situations States of Nature Do Nothing What decision would a pessimist make? What decision would an optimist make! What decision would be made based on the realism criterion, where the coefficient of realism is 0.707 d. What decision would be made based on the equally likely criterion? e. What decision would be made based on the minimax regret criterion? Suppose now that...
The following payoff table provides profits based on various possible decision alternatives and various levels of demand at Robert Klassan's print shop Demand Decision Low Alternative 1 $10,000 $36,000 Alternative 2 $5,000 Alternative 3$2.000 $52.000 High $40,000 The probability of low demand ie 0.35, whoreas the probability of high demand is 0,65 a) The altermative that provides Robert the greatest expected monetary value (EMV) is Alternative 3 he EMIV for this decision is (enter your answer as a whole numbor,...
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