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Q: Statistics ( No Answer,   1 Comment )
Question  
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
Answer  
There is no answer at this time.

Comments  
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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