This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Which of the following techniques use the concept of expected value? a. Decision trees b. Payoff ... (Read 63 times)

Kthamas

  • Hero Member
  • *****
  • Posts: 546
on: Jul 21, 2018
Which of the following techniques use the concept of expected value?
 
 

a. Decision trees
  b. Payoff matrices
  c. Inventory models
  d. Both a and b
  e. Both b and c



Question 2

In using payoff matrices, we multiply each potential payoff associated with a decision
  alternative by its probability and sum the answers. What do we determine using this
  procedure?


 
 

a. An expected value
  b. A probability estimate
  c. The amount we will make if we implement the alternative
  d. The decision value
  e. The optimal value of the alternative



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

sarahccccc

  • Sr. Member
  • ****
  • Posts: 318
Reply #1 on: Jul 21, 2018
Answer to Question 1

D

Answer to Question 2

A


Kthamas

  • Hero Member
  • *****
  • Posts: 546
Reply #2 on: Jul 21, 2018
Both answers were spot on, thank you once again


sarahccccc

  • Sr. Member
  • ****
  • Posts: 318
Reply #3 on: Jul 21, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Although puberty usually occurs in the early teenage years, the world's youngest parents were two Chinese children who had their first baby when they were 8 and 9 years of age.

Did you know?

All patients with hyperparathyroidism will develop osteoporosis. The parathyroid glands maintain blood calcium within the normal range. All patients with this disease will continue to lose calcium from their bones every day, and there is no way to prevent the development of osteoporosis as a result.

Did you know?

Blood is approximately twice as thick as water because of the cells and other components found in it.

Did you know?

Looking at the sun may not only cause headache and distort your vision temporarily, but it can also cause permanent eye damage. Any exposure to sunlight adds to the cumulative effects of ultraviolet (UV) radiation on your eyes. UV exposure has been linked to eye disorders such as macular degeneration, solar retinitis, and corneal dystrophies.

Did you know?

There are over 65,000 known species of protozoa. About 10,000 species are parasitic.

A guanacaste tree, Enterolobium cyclocarpum, growing in Costa Rica. Guanacaste trees, which produce A guanacaste tree, Enterolobium cyclocarpum, growing in Costa Rica. Guanacaste trees, which produce
Performing Transmission-Based Precaution: Isolation Techniques Performing Transmission-Based Precaution: Isolation Techniques
For centuries, widows in the Mediterranean countries, such as thise widow in Greece, were expected ... For centuries, widows in the Mediterranean countries, such as thise widow in Greece, were expected ...
Trees provide ecosystem services to people Trees provide ecosystem services to people
Expected Distribution of IQ Scores Expected Distribution of IQ Scores
The expected results of two generations of semiconservative replication The expected results of two generations of semiconservative replication
Video: Sigmoidoscopy

For a complete list of videos, visit our video library