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
PROVE THAT 2 IS IRRATIONAL
Show that the points (3, 0), (4, 5), (-1, 4) and (-2, -1) taken in order are the vertices of a rhombus. Also find the area of the rhombus.
Inverse Tangent : Following is the definition of the inverse tangent. y = tan -1 x ⇔ tan y = x for -∏/2 ≤ y ≤ ?/2 Again, we have a limi
As office manager of her firm, Marcellyne has been directed to buy new filing cabinets. She knows that cabinet A costs $10, requires 6 square feet of floor space, and holds 9 cubic
The sum of -4 and a number is equal to -48. What is the number? Let x = the number. Because sum is a key word for addition, the equation is -4 + x = -48. Add 4 to both sides o
(a) Specify that the sum of the degrees of all vertices of a graph is double the number of edges in the graph. (b) Let G be a non directed gra
Ask question Minimum 100 words accepted# 1000-101
Determine the eigenvalues and eigenvectors of the subsequent matrix. Solution : The first thing that we require to do is determine the eigen-values. It means we require
Evaluate following limits. Solution Let's begin with the right-hand limit. For this limit we have, x > 4 ⇒ 4 - x 3 = 0 also, 4 - x → 0 as x → 4
what is a perfect square
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