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
a ,b,c are complex numbers such that a/1-b=b/1-c=c-1-a=k.find the value of k
Probability Rules A probability is a number assigned to the occurrence of an event in a sample space. Probability measures must satisfy three rules. If A is an even
ABC is a right triangle right-angled at C and AC=√3 BC. Prove that ∠ABC=60 o . Ans: Tan B = AC/BC Tan B = √3 BC/BC Tan B =√3 ⇒ Tan B = Tan 60 ⇒ B = 60
Quality Control Normally there is a quality control departments in every industry which is charged along with the responsibility of ensuring about the products made do meet th
You know the experation for the area of a circle of radius R. It is Pi*R 2 . But what about the formula for the area of an ellipse of semi-minor axis of length A and semi-major
NATURAL NUMBERS The numbers 1, 2, 3, 4.... Are called as natural numbers, their set is shown by N. Hence N = {1, 2, 3, 4, 5....} WHOLE NUMBERS The numbers 0, 1, 2, 3, 4
Consider R be a relation from A to B, that is, take R A Χ B. Then Domain R = {a: a € A, (a, b) € R for any b € B} i.e. domain of R is the set of all the first components of
Definition Assume that f(t) is a piecewise continuous function. The Laplace transform of f(t) is denoted L{ f (t )} and defined by, There is an optional notation for L
how are polynomials be factored/?
Q. Basic Set Union Operation? Ans. Suppose instead that your school needs to know which students are taking either art or business or both. Then the students who are ta
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