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 51 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?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

Did you know?

Serum cholesterol testing in adults is recommended every 1 to 5 years. People with diabetes and a family history of high cholesterol should be tested even more frequently.

Did you know?

Your chance of developing a kidney stone is 1 in 10. In recent years, approximately 3.7 million people in the United States were diagnosed with a kidney disease.

Did you know?

Eat fiber! A diet high in fiber can help lower cholesterol levels by as much as 10%.

Did you know?

More than nineteen million Americans carry the factor V gene that causes blood clots, pulmonary embolism, and heart disease.

A Lexical Decision Task A Lexical Decision Task
Priming Affects the Speed of Respones on a Lexical Decision Task Priming Affects the Speed of Respones on a Lexical Decision Task
Ethical Decision-Making Model Ethical Decision-Making Model
Skin lifting techniques. (A) Basic skin lifting. (B) Lifting with directional shift. (C) Skin ... Skin lifting techniques. (A) Basic skin lifting. (B) Lifting with directional shift. (C) Skin ...
Kyo and jitsu-concept of energy deficiency and excess from shiatsu. Kyo and jitsu-concept of energy deficiency and excess from shiatsu.
The expected value for a binomial probability distribution is _____. The expected value for a binomial probability distribution is _____.
Video: Fermentation - When Oxygen Is Absent, Pyruvate to Lactate & Pyruvate to Ethanol

For a complete list of videos, visit our video library