153.Final_Exam_calc.SUM07.rev

153.Final_Exam_calc.SUM07.rev - Blue...

Info iconThis preview shows pages 1–8. Sign up to view the full content.

View Full Document Right Arrow Icon
Audrey's Fruit Stand Decision Analysis w/ Value of Information and Control Initial Supply Initial Cost New Cost Price Demand Demand Price 60 2 30 3 H 130 5 55 0.5 Demand Probability 5 130 H 0.5 L -20 H 4 0.5 0.5 L 0.5 H 120 3 70 0.5 Price Demand Sales 70 4 80 H 50 L 20 5 5 0.5 L 20 30 H 65 H 60 L 4 4 45 0.5 0.5 L 35 3 H 80 L 30 3 3 0.5 L 50 Supply
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Basket Delivery Probabilities Audrey's Insurance Decision for Fred Andrea Sofia 0.7 Yes 0.44 Minor -500 Minor 0.67 0.7 0.7 Yes 0.67 -2,950 -300 No 0.22 Accident Moderate -3,000 Accident Moderate 0.33 0.2 0.2 0.2 0.2 -590 -60 Yes 0.22 Pay Serious -20,000 File Serious 0.67 Damages 0.1 Claim 0.1 No 0.33 0 0 No 0.11 None 0 None 0.33 0.8 0.8 both = Max value of insurance = difference between -590 and = 0.50 = 530 Blue and Green Taxicabs Blue and Green Taxicabs flipped Cab color "Witness" "Witness" Cab color "blue" 0.63 Blue 0.63 0.750 0.938
Background image of page 2
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 4
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 6
Background image of page 7

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 8
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Blue "blue" 0.83 0.667 "green" 0.208 Green 0.042 0.250 0.063 "blue" 0.042 Blue 0.208 0.250 0.625 Green "green" 0.17 0.333 "green" 0.13 Green 0.13 0.750 0.375 1 1 1 1 1 1 1 1 New Supply and Cost Tree Price Demand 130 H 60 35 0.5 5 120 L 10 0.5 60 H 30 30 0.5 35 4-20 L 30 0.5 20 H 0.5 3 30 L 0.5-300 Deductible-300-300-300-60 Supply Cost Price Demand 50 4 H-25-87.5 0.5 Demand Probability 5 H 0.5 L-150 0.5 L 0.5 H-40-80 0.5 Price Demand Sales-72.5 4 H 35 L-120 5 0.5 L 10 H 40 H-50 4-72.5 0.5 L 20 3 H 50 L-95 3 0.5 L 35 Demand Price 5-25-25 H 4-40 0.5 3-50-60 5-150-95 L 4-120 0.5 3-95...
View Full Document

This note was uploaded on 06/16/2010 for the course MS&E 153 taught by Professor Ronhoward during the Summer '08 term at Stanford.

Page1 / 8

153.Final_Exam_calc.SUM07.rev - Blue...

This preview shows document pages 1 - 8. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online