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 100 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?

About 60% of newborn infants in the United States are jaundiced; that is, they look yellow. Kernicterus is a form of brain damage caused by excessive jaundice. When babies begin to be affected by excessive jaundice and begin to have brain damage, they become excessively lethargic.

Did you know?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

Did you know?

Women are 50% to 75% more likely than men to experience an adverse drug reaction.

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

Boreal forests, such as this one in Siberian Russia, are dominated by a few species of conifer trees Boreal forests, such as this one in Siberian Russia, are dominated by a few species of conifer trees
Breathing Concept Map Breathing Concept Map
Concept of Death by Children Concept of Death by Children
concept map : atoms and molecules concept map : atoms and molecules
The concept of a threshold stimulus. The concept of a threshold stimulus.
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 ...
Video: Interspecific Competition Relationship - Competitive & Niche Differentiation

For a complete list of videos, visit our video library