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
What is the Magna Carta
State clearly that the current in an RLC circuit with an AC source with and without the use of complex variables
1.) How does the monsoon influence the climate and vegetation of Southeast Asia? 2.) What is the main crop in Southeast Asia and the main systems by which it is produce? How and
what is actual error and how do you calculate percentage error
Fourier series - Partial Differential Equations One more application of series arises in the study of Partial Differential Equations. One of the more generally employed method
(-85) from (-21) and explain me
how to curve trace? and how to know whether the equation is a circle or parabola, hyperbola ellipse?
((1-x)/(1+x))^0.5
Consider the unary relational symbols P and L, and the binary relational symbol On, where P(a) and I(a) encode that a is a point and a (straight) line in the 2-dimensional space, r
If the minute hand of a big clock is 1.05 m long, find the rate at which its tip is moving in cm per minute.
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