Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Decision making under uncertainty
Various methods are used to make decision in circumstances whereas only the pay offs are identified and the likelihood of every state of nature are identified
a) Maximin Method
This criterion is based upon the "conservative approach' to suppose that the worst possible is going to occur. The decision maker considers every strategy and locates the minimum pay off for each and then selects that alternative that maximizes the minimum payoff
Demonstration
Rank the products A, B and C applying the Maximin rule b using the given payoff table showing potential losses and profits which are expected to arise from launching these three products in three market situation
Pay off table in £ 000's
Boom condition
Steady state
Recession
Mini profits row minima
Product A
+8
1
-10
Product B
-2
+6
+12
Product C
+16
0
-26
In above table
Ranking the MAXIMIN rule = BAC
sin10+sin20+sin30+....+sin360=0 sin10+sin20+sin30+sin40+...sin180+sin(360-170)+......+sin(360-40)+sin(360-30)+sin(360-20)+sin360-10)+sin360 sin360-x=-sinx hence all terms cancel
Hypothesis Testing About The Difference Between Two Proportions Hypothesis testing about the difference between two proportions is used to test the difference between the propo
Utilizes the second derivative test to classify the critical points of the function, h ( x ) = 3x 5 - 5x 3 + 3 Solution T
how to make 2.3 into a fraction?
The sum of two numbers is 19, their difference is 5. find the numbers
Devise data that link a certain relationship OF YOUR CHOOSING between two variables. Write a rationale stating why you chose this particular data and what you are planning to STAT
RS=8y+4 ST=4y+8 RT=15y-9 a.) WHAT IS THE VALUE OF y b.) FIND RS, ST, AND RT
Celine deposited $505 into her savings account. If the interest rate of the account is 5% per year, how much interest will she have made after 4 years? Use the formula F = 9/5
A B C play a game. If chance of their winning it in an attempt arr2/3, 1/2, 1/4 respective. A has a first chance followed by Band Called respective chances of winning the game.
Determine the height of the Washington Monument to the nearest tenth of a meter. a. 157.8 m b. 169.3 m c. 170.1 m d. 192.2 m c. The height of the monument is the add
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd