Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Decision making under uncertainty
Various methods are used to make decision in circumstances whereas only the pay offs are identified and the likelihood of every state of nature are identified
a) Maximin Method
This criterion is based upon the "conservative approach' to suppose that the worst possible is going to occur. The decision maker considers every strategy and locates the minimum pay off for each and then selects that alternative that maximizes the minimum payoff
Demonstration
Rank the products A, B and C applying the Maximin rule b using the given payoff table showing potential losses and profits which are expected to arise from launching these three products in three market situation
Pay off table in £ 000's
Boom condition
Steady state
Recession
Mini profits row minima
Product A
+8
1
-10
Product B
-2
+6
+12
Product C
+16
0
-26
In above table
Ranking the MAXIMIN rule = BAC
How do you find the distributive property any faster?
/3x-5/-x-7=0
A chemist has one solution which is 50% acid and a second which is 25% acid. How much of each should be mixed to make 10 litres of 40% acid solution.
The lower portion of a hay stack is an inverted cone frustum and the upper part is a cone find the total volume of the hay stack.
Find out the x-y coordinates of the points in which the following parametric equations will have horizontal or vertical tangents. x = t 3 - 3t y = 3t 2 - 9 Solut
Natural exponential function : There is a extremely important exponential function which arises naturally in several places. This function is called as the natural exponential fun
Donald sold $5,250 worth of latest insurance policies last month. If he receives a commission of 7% on new policies, how much did Donald earn in commissions last month? To ?nd
A 90% acid solution is mixed with a 97% acid solution to obtain 21 litres of a 95% solution. Findout the quantity of every solutions to get the resultant mixture.
Verify Liouville''s formula for y "-y" - y'' + y = 0 in (0, 1) ?
#question when equation of tangent T=0 and why
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd