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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
Specified a system of equations, (1), we will have one of the three probabilities for the number of solutions. 1. No solution. 2. Accurately one solution. 3. Infinit
Are the following Boolean conjunctive queries cyclic or acyclic? (a) a(A,B) Λ b(C,B) Λ c(D,B) Λ d(B,E) Λ e(E,F) Λ f(E,G) Λ g(E,H). (b) a(A,B,C) Λ b(A,B,D) Λ c(C,D) Λ d(A,B,C,
there are 300 students in the sixth grade. if 40% of them were girls, how many boys were there?
1/2+8/9
Which of the subsequent numbers is equivalent to 12.087? Zeros can be added to the end (right) of the decimal portion of a number without changing the value of the number; 12.
INTEGRATION OF 1/(1+3 SIN^2 x)
buyer behaviour
The sum of the series 1+1/2+1/4,..is
What is the square root of -i and argument of -i Ans) argument of -i is 270 ad 1 is the square root of -i
Example of addition of Signed Numbers: Example: (-2) + 3 + 4 = 0 - 2 + 3 + 4 Solution: Thus: (-2) + 3 + 4 = 5 Example: 10 + (-5) + 8 + (-7)
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