Question :
TABLE 19-5
The following payoff table shows profits associated with a
TABLE 19-5
The following payoff table shows profits associated with a set of 2 alternatives under 3 possible events.
Event |
Action A |
Action B |
1 |
1000 |
1200 |
2 |
500 |
700 |
3 |
300 |
-200 |
Suppose that the probability of Event 1 is 0.2, Event 2 is 0.5, and Event 3 is 0.3.
84) Referring to Table 19-5, what is the EMV for Action A?
85) Referring to Table 19-5, what is the EMV for Action B?
86) Referring to Table 19-5, what is the opportunity loss for Action B with Event 3?
87) Referring to Table 19-5, what is the opportunity loss for Action B with Event 1?
88) Referring to Table 19-5, what is the opportunity loss for Action A with Event 1?
89) Referring to Table 19-5, what is the opportunity loss for Action A with Event 2?
90) Referring to Table 19-5, what is the EOL for Action A?
91) Referring to Table 19-5, what is the EOL for Action B?
92) Referring to Table 19-5, what is the optimal action using maximax criterion?
93) Referring to Table 19-5, what is the optimal action using maximin criterion?
94) Referring to Table 19-5, what is the optimal action using EMV?
95) Referring to Table 19-5, what is the optimal action using EOL?
96) Referring to Table 19-5, what is the EVPI for this problem?
97) Referring to Table 19-5, what is the expected profit under certainty (EPUC ) for this problem?
98) Referring to Table 19-5, what is the standard deviation for Action A?
99) Referring to Table 19-5, what is the coefficient of variation for Action A?
100) Referring to Table 19-5, what is the return to risk ratio for Action B?
101) Referring to Table 19-5, what is the optimal action using the coefficient of variation?
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