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!
Value of perfect information
This relates to the amount that we would pay for an item of information such would enable us to forecast the exact conditions of the market and act accordingly.
The EVPI or expected value of perfect information is the expected outcome along with perfect information minus the expected outcome with no perfect information namely the maximum EMV
Illustration
From above table and described that the probabilities are Boom 0.6, steady state 0.3 and recession 0.1 then
When situations of the market are; boom launch product C: profit = 16
When situations of the market are; steady state launch product B: profit = 6
When situations of the market are; recession launch product B: profit = 12
The expected profit along with perfect information will be
(16 x 0.6) + (6 x 0.3) + (12 x 0.1) = 12.6
Our expected profit choosing product C is 7
The maximum price that we would pay for perfect information is 12.6 - 7 = 5.6
1.find lim sup Ek and liminf Ek of Ek=[(-(1/k),1] for k odd and liminf Ek=[(-1,(1/k)] for k even. 2.Show that the set E = {x in R^2 : x1, x2 in Q} is dense in R^2. 3.let r>0 an
A door height is 6 feet and 6 inches and 36 inches wide. What is the widest piece of sheetrock that will ?t through the door? Round to the nearest inch. a. 114 in b. 86 in
The power
one half y minus 14
PROBLEMS RELATED TO APPLYING OPERATIONS : Some of us were testing Class 4 children with addition and subtraction problems. We gave them sums that were written horizontally and th
How we Solve Polynomial Equations Using Factoring ? A polynomial equation is an equation that has polynomials on both sides. Polynomial equations can often be solved by putti
Generate G(1000,1/2) and find the largest clique you can. A clique is a complete sub graph, that is, a set of vertices each pair of which is connected by an edge.
Four is added to the quantity two minus the sum of negative seven and six. This answer is then multiplied through three. What is the result? This problem translates to the expr
who discovered unitary method??
Steps for Integration Strategy 1. Simplify the integrand, if possible This step is vital in the integration process. Several integrals can be taken from impossible or ve
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