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Author Question: This payoff matrix gives potential dollar gain values in thousands for strategies S1, S2, S3, and S4 ... (Read 144 times)

jayhills49

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on: Jul 6, 2018
This payoff matrix gives potential dollar gain values in thousands for strategies S1, S2, S3, and S4 for Sam's Pizza and competitive strategies CA1, CA2, and CA3 for Pam's Pizza. What is the maximum regret value for S4?
 
  CA1 CA2 CA3
  S1 13 14 7
  S2 7 17 12
  S3 31 29 4
  S4 20 12 21
 
  A) 13
  B) 7
  C) 2
  D) 17

Question 2

It is relatively easy for virtual team members to build trust.
 
  Indicate whether this statement is true or false.
Fundamentals of Management: Essential Concepts and Applications ¦ Robbins, Coulter, De Cenzo ¦ 10th Edition
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joshraies

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Reply #1 on: Jul 6, 2018
Answer to Question 1

Answer: D
Explanation: The regret value shows the maximum amount that Sam can lose by making the wrong choice. In this case, the difference between the CA3 value of 21 and the CA3 value of 4 gives the maximum regret of 17 for S4, meaning the most that could have been lost had Sam not chosen S4 would have been 17 thousand dollars.

Answer to Question 2

Answer: FALSE


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