dss assignment 3.xlsx - question 3-29 Low Alternatives...

This preview shows page 1 - 6 out of 6 pages.

question 3-29 Low Medium High Alternatives 85 110 150 Ardmore 90 100 120 Sweetwater 110 120 130 Lake Charles 0.2 0.3 0.5 Probability A) Ardmore would be selected by optimistic decision and has the be B) Sweetwater would be selected by Pessimistic decision and has the b C) The minimax regret decision is to choose Sweetwater which has a D) The decision based on the lowest EMV is to choose Sw E) perfect it is 85*0.2 + 100*0.3 + 120* 0.5 = 10 F) Sweetwater would minimize the EOL G) The expected value of perfect information (EVP question 3-30 A) decision table Sizes of Gasoline Station Good M Fair M Poor M Small $50,000 $20,000 ($10,000) Medium $80,000 $30,000 ($20,000) Large $100,000 $30,000 ($40,000) Very Large $300,000 $25,000 ($160,000) B)Maximum is Large C)Maximin is Small Maximax is VeryLarge D) The equally likely criterion is Very Large E)Criterion of realism is Very Large F) Opportunity loss table Size Strong M Fair M Good M Small 250000 10000 0 Medium 220000 0 10000 Large 200000 0 30000

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture