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!
MINIMAX regret method
Minimax method assumes that the decision maker will experience 'regret' after he has made the decision and the events have happened. The decision maker chooses the alternative which minimizes the maximum possible regret.
Illustration
Regret table in £ 000's
Boom condition
Steady state
Recession
Mini regret row maxima
Product A
8
5
22
Product B
18
0
Product C
6
38
A regret table is constructed based upon the pay off table. The regret is the 'opportunity losses from taking one decision given that a specific contingency happens in our illustration where there is boom steady state or recession
The ranking by using MINIMAX regret method = BAC
Y=θ[SIN(INθ)+COS(INθ)],THEN FIND dy÷dθ. Solution) Y=θ[SIN(INθ)+COS(INθ)] applying u.v rule then dy÷dθ={[ SIN(INθ)+COS(INθ) ] dθ÷dθ }+ {θ[ d÷dθ{SIN(INθ)+COS(INθ) ] } => SI
what is the trignomatry ratio
Question A 22 kW, 3-phase, 415 V, 40 A, 50 Hz, 960 rpm, 0.88 PF squirrel cage induction motor drives a pump. The total inertia of the drives system is 1.2 kg-m2. Determine th
Evaluate each of the following. (a) 25 1/2 (b) 32 1/5 Solution (a) 25 1/2 Thus, here is what we are asking in this problem. 2
It refers to the ratio of the explained variation to the total variation and is utilized to measure the strength of the linear relationship. The stronger the linear relationship th
If depreciation/amortisation is done properly, impairment adjustments will not arise. Required: Do you agree with the above statement? Critically and fully explain your
HOLISTIC MARKETING
Geometric mean - It is a measure of central tendency normally utilized to measure industrial increases rates. - It is explained as the nth root of the product of 'n' observa
what is an pie chart
The following exercises may help you to look more closely at the activities done above. E1) Why did the two dice game become more difficult? E2) Do you find the activities in
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: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd