Prb14_8 - Minimax Regret Page 7 <--minimum...

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Payoffs Page 1 Payoff Matrix Alternatives: 0 15 30 45 60 75 90 105 Fully Insure -47 -47 -47 -47 -47 -47 -47 -47 Paritally Insure -25 -40 -55 -60 -60 -60 -60 -60 Self-Insure 0 -15 -30 -45 -60 -75 -90 -105 Hail Damage (in $1,000s)
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Maximax Page 2 Payoff Matrix Alternatives: 0 15 30 45 60 75 90 105 MAX Fully Insure -47 -47 -47 -47 -47 -47 -47 -47 -47 Paritally Insure -25 -40 -55 -60 -60 -60 -60 -60 -25 Self-Insure 0 -15 -30 -45 -60 -75 -90 -105 0 Hail Damage (in $1,000s)
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Maximax Page 3 <--maximum
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Maximin Page 4 Payoff Matrix Alternatives: 0 15 30 45 60 75 90 105 MIN Fully Insure -47 -47 -47 -47 -47 -47 -47 -47 -47 Paritally Insure -25 -40 -55 -60 -60 -60 -60 -60 -60 Self-Insure 0 -15 -30 -45 -60 -75 -90 -105 -105 Hail Damage (in $1,000s)
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Maximin Page 5 <--maximum
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Minimax Regret Page 6 Regret Matrix Alternatives: 0 15 30 45 60 75 90 105 MAX Fully Insure 47 32 17 2 0 0 0 0 47 Paritally Insure 25 25 25 15 13 13 13 13 25 Self-Insure 0 0 0 0 13 28 43 58 58 Hail Damage (in $1,000s)
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Unformatted text preview: Minimax Regret Page 7 &lt;--minimum Expected Value Page 8 Payoff Matrix Alternatives: 15 30 45 60 75 90 105 EMV Fully Insure-47-47-47-47-47-47-47-47-47 Paritally Insure-25-40-55-60-60-60-60-60-49.15 Self-Insure-15-30-45-60-75-90-105-45 &lt;--maximu Probability: 0.25 0.08 0.10 0.12 0.15 0.12 0.10 0.08 Hail Damage (in $1,000s) Expected Value Page 9 um Expected Regret Page 10 Regret Matrix Alternatives: 15 30 45 60 75 90 105 EOL Fully Insure 47 32 17 2 16.25 Paritally Insure 25 25 25 15 13 13 13 13 18.4 Self-Insure 13 28 43 58 14.25 Probability: 0.25 0.08 0.10 0.12 0.15 0.12 0.10 0.08 Hail Damage (in $1,000s) Expected Regret Page 11 &lt;--minimum...
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This note was uploaded on 04/19/2011 for the course CBA 0060 taught by Professor Barrymitnick during the Spring '09 term at Pittsburgh.

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Prb14_8 - Minimax Regret Page 7 &amp;amp;lt;--minimum...

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