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Subject:
Statistics
Category: Business and Money > Finance Asked by: sweetpea2-ga List Price: $9.50 |
Posted:
17 May 2005 10:50 PDT
Expires: 16 Jun 2005 10:50 PDT Question ID: 522639 |
........................High Sales Med.Sales Low Sales A(0.2) B(0.5) C(0.3) A1 (sell juices) 3000 2000 -6000 A2 (don't sell juices) 0 0 0 The probablities show above are represent the states of nature and the decision maker's degree of uncertanties and personal judgement on the occurence of each state. What is the expected payoff for actions A1 and A2 above? What would be your recommendation? Interpret the results based on practical considerations. Need answer ASAP - Thanks |
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There is no answer at this time. |
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Subject:
Re: Statistics
From: reinedd-ga on 17 May 2005 12:16 PDT |
A1 A2 Earning P(Earning) Earning P(Earning) 3000 0.2 0 0.2 2000 0.5 0 0.5 -6000 0.3 0 0.3 average earning:-200 average earning:0 Your average earning is bigger if you don't sell, |
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