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The owner of TMH Hospital wants to open a new facility in a certain area. He usually builds 25-, 50-, or 100-bed facilities, depending on whether anticipated demand is low, medium or high. On the basis of his past experience, the probabilities of low demand, Medium demand and high demand are estimated as 0.1, 0.4and 0.5 and the short-range payoffs in Rs are calculated as follows.
Demand Acts Build 25 bed Build 50 bed Build 100 bed
Low 30,000 -20,000 -40,000Medium 35,000 50,000 -10,000High 40,000 55,000 75,000
1) What would be the best decision?
2) What is the value of Expected Value of Perfect Information?
who,why and when discover
Q. Determine Z-scores and Percentiles? Ans. Z-scores help measure how far a piece of data is from the mean. More specifically, Z-scores tell how far a piece of data is fr
Continuity requirement : Let's discuss the continuity requirement a little. Nowhere in the above description did the continuity requirement clearly come into play. We need that t
tan 2x = 1
how much money will required to buy 200,rupees 25 shares at premium of rupees 2
Determine if the three vectors a → = (1, 4, -7), b → = (2, -1, 4) and c → = (0, -9, 18) lie in similar plane or not. Solution Thus, as we noted prior to this example al
Calculate the area and perimeter of a parallelogram: Calculate the area and perimeter of a parallelogram with base (b) = 4´, height (h) = 3´, a = 5´ and b = 4´. Be sure to in
Find out the next number in the subsequent pattern. 320, 160, 80, 40, . . . Each number is divided by 2 to find out the next number; 40 ÷ 2 = 20. Twenty is the next number.
find the sum of the following series upto n terms: 1*2+2*4+3*8+4*16+.....
a=halfbh a=17 b=5
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