What is the emv for option 1 in the following decision table

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Reference no: EM131018385

Question 7: Which of the following is TRUE regarding the use of simulation?

1. It allows time-compression in testing major policy decisions

2. It always yields optimal solutions

3. It is always very easy to build a simulation model

4. It may interfere with real-world systems

4 points

Question 8: What is the EMV for Option 1 in the following decision table?

States of Nature
Alternatives	S1	S2
p	.3	.7
Option 1	15,000	20,000
Option 2	10,000	30,000

		17,500
		15,000
		17,000
		18,500

Reference no: EM131018385

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