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DECISION THEORY
People constantly make decisions in their private lives as well as in their work. Some decisions are qualitative in terms of their implications and significance, like, If I do not have coffee in the morning, I will feel flat throught the day and if I have, I will feel fresh. Other decisions involve elements which are quantifiable like, If I work on the machine for 6 hours per day the production would be 2,500 units and if I work for 8 hours per day the production would be 3,500 units.
Decision making environments in which consequences of decisions are quantifiable.
Our discussion of decision theory is based on the following assumptions:
Decision making can be of three categories:
Consider a class of 55 students. The student names are placed in a hat & 3 names are randomly drawn without replacement. a) If the first person drawn was named the class presi
A jet flew at an average speed of 480mph from Point X to Point Y. Because of head winds, the jet averaged only 440mph on the return trip, and the return trip took 25 minutes longer
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Evaluate the given limit. Solution : It is a combination of many of the functions listed above and none of the limited are violated so all we have to do is plug in x = 3
p1(-3,-1),p2(9,4)
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Give me an example , please : 1 over 2 , 14 over twenty-eight
Decimal representations of some basic angles: As a last quick topic let's note that it will, on occasion, be useful to remember the decimal representations of some basic angles. S
The area of a square is 64 cm 2 . What is the length of one side of the square? To find out the area of a square, you multiply the length of a side through itself, because all
The two sides of a triangle are 17 cm and 28 cm long, and the length of the median drawn to the third side is equal to 19.5 cm. Find the distance from an endpoint of this median to
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