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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?
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The F Distribution The F distribution is the distribution of the ratio of 2 random variables. Both random variables have yet another distribution, called the c 2 Distri
LARGE SAMPLES These are samples that have a sample size greater than 30(that is n>30) (a) Estimation of population mean Here we suppose that if we take a large sample
The population of the village is 5000. If in a year, the number of males were to increase by 5% and that of a female by 3% annually, the population would grow to 5202 at the end o
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hi i am doing the oaks test do you have somthing that could help me
Reasons why we start division : The reason we start division by considering the digit in the leftmost place is efficiency and ease . For instance, suppose we divide 417 by 3, we
if there is a tie between two penalties then how to make allocations?
128sinpower8=cos8-8cos6+28cos4-56cos2+35
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