Problem 16

Problem 16 - Rain 2000, Overcast 0, Sunshine 1500 Decision...

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Chapter 12 # 16 Decision Rain 0.30 Overcast 0.15 Sunshine 0.55 Sun Visors -500 -200 1500 Umbrellas 2000 0 -900 a. Expected Values EV(Visors)= -500*0.3 + -200*.15 + 1500*0.55 = 645 EV(Umbrellas)= 2000*.3 + -900*0.55 = 105 Select Visors b. Opportunity Loss Table
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Unformatted text preview: Rain 2000, Overcast 0, Sunshine 1500 Decision Rain Overcast Sunshine Sun Visors 2500 200 Umbrellas 2400 Expected opportunity loss EV(Visors) = 2500*0.3 + 200*0.15 = 780 EV(Umbrellas)= 2400* 0.55 = 1320...
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This note was uploaded on 09/24/2010 for the course BU 628 taught by Professor Dr.tapp during the Spring '10 term at Georgian.

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