d4 11,000 -4,00015 O 10,700 O 5,400 O 3,800 3,500 O 14,200
Homework Answers
3500
EVPI= 0.2*20 + 0.3* 9+ 0.5*15 - 10.7= 14.2-10.7= 3.5 (3500)
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Question 5 5 pts Use the table below to determine the expected value of perfect information. The ...
The table shows both prospective profits and losses for a company, depending on what decision is made and what state of...
The table shows both prospective profits and losses for a company, depending on what decision is made and what state of nature occurs. If an optimistic strategy is used, determine which decision the company should select. State of Nature Decision S1 S2 S3 D1 50 70 30 D2 30 90 D3 80 10 20 D4 30 30 30
The table shows both prospective profits and losses for a company, depending on what decision is made and what state of nature...
The payoff table for a maximization problem is given below. Decision Alternative State of nature, s1...
The payoff table for a maximization problem is given below. Decision Alternative State of nature, s1 State of nature, s2 d1 8 10 d2 0 6 d3 5 0 d4 14 5 What is the recommended decision alternative using the conservative approach? d1 d4 d2 d3
3.13 pts D Question 15 A payoff table is given below and the probabilities of s1,...
3.13 pts D Question 15 A payoff table is given below and the probabilities of s1, s2, and s3 are 0.3, 0.4, and O.3, respectively, what is the expected opportunity loss of the best decision? s3 s2 s1 750 d1 250 500 d2 300 -250 1200 500 600 d3 500 530 625 280 385 810 Next Previous 4
The following payoff table shows profit for a decision analysis problem with two decision alternatives and...
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 S1 S2 S3 d1 250 100 25 d2 100 100 75 The probabilities for the states of nature are P(s1) = 0.65, P(s2) = 0.15, and P(s3) = 0.20. (a) What is the optimal decision strategy if perfect information were available? S1 : - Select your answer -d1d2d1 or d2Item 1 S2 : - Select...
A payoff table is given as State of Nature Decision s1 s2 s3 d1 250 750...
A payoff table is given as State of Nature Decision s1 s2 s3 d1 250 750 500 d2 300 - 250 1200 d3 500 500 600 a. What choice should be made by the optimistic decision maker? b. What choice should be made by the conservative decision maker? c. What decision should be made under minimax regret? d. If the probabilities of d1, d2, and d3 are .2, .5, and .3, respectively, then what choice should be made under expected...
I posted five questions. The last one is a yes or no. Thanks. Fantastic Distributing is in the process of trying to det...
I posted five questions. The last one is a yes or no.
Thanks.
Fantastic Distributing is in the process of trying to determine where they should schedule next year's production of a popular line of kitchen utensils that they distribute. Manufacturers in four different countries have submitted bids to Fantastic Distributing. However, a pending trade bill in Congress will greatly affect the cost to Fantastic Distributing due to proposed tariffs, favorable trading status, etc. After careful analysis, Fantastic Distributing has...
D Question 16 3.13 pts Given the following table of proft payoffs using sensitivity analysis at...
D Question 16 3.13 pts Given the following table of proft payoffs using sensitivity analysis at what probability or less would you select decision 2 States of Nature Decision s1 S2 d1 8 10 d2 4 16 d3 10 0 0.60 O 0.17 0.40 O 0.80 O 0.83
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
What is the expected value of perfect information of the following decision table? (hint: you probably...
What is the expected value of perfect information of the following decision table? (hint: you probably need to calculate the expected value with perfect information and find the maximum EMVs of each option) States of Nature Alternatives S1 S2 Option 1 200 300 Option 2 50 350 probability .6 .4
Question 18 3.13 pts Below is a portion of a decision tree. If the probability of s1 - 0.40, what is the value at node 5. S1 P(S1)100 D1 10 S2 P(S2) 250 No Research 1 PS1300 D2 S2 P(S2) 200 O 160...
Question 18 3.13 pts Below is a portion of a decision tree. If the probability of s1 - 0.40, what is the value at node 5. S1 P(S1)100 D1 10 S2 P(S2) 250 No Research 1 PS1300 D2 S2 P(S2) 200 O 160 O 260 O 180 O 320 O 240
Question 18 3.13 pts Below is a portion of a decision tree. If the probability of s1 - 0.40, what is the value at node 5. S1 P(S1)100 D1...
The table shows both prospective profits and losses for a company, depending on what decision is made and what state of nature occurs. If an optimistic strategy is used, determine which decision the company should select. State of Nature Decision S1 S2 S3 D1 50 70 30 D2 30 90 D3 80 10 20 D4 30 30 30
The table shows both prospective profits and losses for a company, depending on what decision is made and what state of nature...
3.13 pts D Question 15 A payoff table is given below and the probabilities of s1, s2, and s3 are 0.3, 0.4, and O.3, respectively, what is the expected opportunity loss of the best decision? s3 s2 s1 750 d1 250 500 d2 300 -250 1200 500 600 d3 500 530 625 280 385 810 Next Previous 4
I posted five questions. The last one is a yes or no.
Thanks.
Fantastic Distributing is in the process of trying to determine where they should schedule next year's production of a popular line of kitchen utensils that they distribute. Manufacturers in four different countries have submitted bids to Fantastic Distributing. However, a pending trade bill in Congress will greatly affect the cost to Fantastic Distributing due to proposed tariffs, favorable trading status, etc. After careful analysis, Fantastic Distributing has...
D Question 16 3.13 pts Given the following table of proft payoffs using sensitivity analysis at what probability or less would you select decision 2 States of Nature Decision s1 S2 d1 8 10 d2 4 16 d3 10 0 0.60 O 0.17 0.40 O 0.80 O 0.83
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
Question 18 3.13 pts Below is a portion of a decision tree. If the probability of s1 - 0.40, what is the value at node 5. S1 P(S1)100 D1 10 S2 P(S2) 250 No Research 1 PS1300 D2 S2 P(S2) 200 O 160 O 260 O 180 O 320 O 240
Question 18 3.13 pts Below is a portion of a decision tree. If the probability of s1 - 0.40, what is the value at node 5. S1 P(S1)100 D1...
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