Determine the best crop to plant

Assignment Help Strategic Management
Reference no: EM1327688

A farmer in Holland must decide which crop to plant next season: Wheat, corn, or Barley. The return on each will be determined by weather conditions. The profit the farmer will realize from each crop, given the weather conditions, is shown in the following table:

State of Nature

Good Bad

Wheat 100,000 32,000

Corn 60,000 40,000

Barley 80,000 20,000

Determine the best crop to plant according to the following decision criteria.

(a) Maximax

(b) Maximin

(c) Minimax Regret

(d) Hurwicz (alpha = .4)

(e) Equal likelihood

Reference no: EM1327688

Questions Cloud

Explain marketing development planning : Explain Marketing Development Planning and Develop marketing objective from the results of this analysis and in line with your corporate goals
N stands for per capita disposable income : P stands for price Pr stands for price of related good also  N stands for per capita disposable income.
Pmt and nper functions in excel : At each question the solution cell must contain the Excel formula (Function) that produced the answer. Replace the existing numerical contents. Also add a brief explanation of how the answer was derived and the significance of the question in unde..
Describe the hyper-social organization : Four Pillars Of A Hyper-Social Organization - Explain the hyper-social organization. Explain the four pillars of a hyper-social organization.
Determine the best crop to plant : A farmer in Holland must decide which crop to plant next season: Wheat, corn, or Barley. The return on each will be determined by weather conditions.
Shift in leadership theory from competition to collaboration : Discuss the concept of a paradigm in relation to leadership. Also discusses a shift in leadership theory from competition to collaboration.
Mcdonnell douglas corp. v/s green test-outcome : I have read this case and I am not getting the test. Please help - Was the McDonnel Douglas test appropriate, are there any changes to the test. Will Green be able to prove McDonnell Dougla's reason was pretexual.
Explain e-business and how e-business has changed : Explain E-Business and prepare a paper discussing the impact of e-business on how business is done today both in the United States and throughout the world and how e-business has changed that.
Suppose the price elasticity coefficient anticipation : Suppose the price elasticity coefficient anticipation of the Christmas season. Estimated 4th quarter sales volume will be.

Reviews

Write a Review

 

Strategic Management Questions & Answers

  The influence of color on consumer perception of freshness

What do you think of the influence of color on consumer perception of freshness?

  The various stages of the strategic management process

The various stages of the Strategic Management Process Why it is necessary, in devising strategic plans, to consider the short - medium - and long term perspectives?

  Managing strategic change

Managing Strategic Change

  A product positioning matrix for an organization

Give an example of a product-positioning matrix for an organization of your choice.

  When is a strategic plan an effective tool

When is a strategic plan an effective tool in a business enterprise What are functional strategies and how important are they in helping an organisation to achieve its common goals How can a strong corporate culture be an asset for the practice..

  Find companies strength, weakness, opportunity and threat

Consider the "Big 3" automobile companies in the US. Select one and identify at least one (each) Strength, Weakness, Opportunity and Threat.

  Determine the transportation cost

Determine the transportation cost

  Decision making and influence factors

Sometimes social influences and societal pressures can influence decision making for the better and sometimes for the worse.

  sustainable FME management

main physical and psychological symptoms of culture shock, cultural homogenization, culturally responsible behaviour

  Identifying the overall competitive strategy

identifying the overall competitive strategy (low-cost, differentiation, etc.) of the VF Corporation and creating a comprehensive analysis using their competitive strategy.

  What are the characteristics of leaders

Write down the characteristics of leaders who derailed (failed to perform successfully) and were either dismissed, transferred, opted for early retirement, or simply plateaued with no chance for promotion

  Discuss the stages in the strategic decision making process

Discuss the stages in the strategic decision making process. Support your answer with examples from the tourism and hospitality sector What are SBU's, In your opinion, how effective are they in large conglomerates or multinational corporations ..

Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd