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 110 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?

Less than one of every three adults with high LDL cholesterol has the condition under control. Only 48.1% with the condition are being treated for it.

Did you know?

The average person is easily confused by the terms pharmaceutics and pharmacology, thinking they are one and the same. Whereas pharmaceutics is the science of preparing and dispensing drugs (otherwise known as the science of pharmacy), pharmacology is the study of medications.

Did you know?

This year, an estimated 1.4 million Americans will have a new or recurrent heart attack.

Did you know?

The tallest man ever known was Robert Wadlow, an American, who reached the height of 8 feet 11 inches. He died at age 26 years from an infection caused by the immense weight of his body (491 pounds) and the stress on his leg bones and muscles.

Did you know?

People often find it difficult to accept the idea that bacteria can be beneficial and improve health. Lactic acid bacteria are good, and when eaten, these bacteria improve health and increase longevity. These bacteria included in foods such as yogurt.

Effects of introduced parasites on American chestnut trees. Effects of introduced parasites on American chestnut trees.
The spatial distribution of trees in three separate stands of different ages on Vancouver Island (da The spatial distribution of trees in three separate stands of different ages on Vancouver Island (da
Concept of Illness by Children Concept of Illness by Children
Metastatic spread of the tumor shown with imaging techniques. Metastatic spread of the tumor shown with imaging techniques.
Finishing techniques to entire leg. Start with basic effleurage from ankle to hip. Redrape the leg. ... Finishing techniques to entire leg. Start with basic effleurage from ankle to hip. Redrape the leg. ...
Two techniques for holding and inserting an otoscope Two techniques for holding and inserting an otoscope
Video: Bone processes - resorption and deposition, remodeling and response to stress in adult bones

For a complete list of videos, visit our video library