COP4355 quiz 29 - (c What is their expected 1st year...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
264 Appendix B: Practice/Homework Quizzes 15.2 Larry has researched the matter thoroughly and feels that for the next year, at least, the probability of high oil and gas prices is only 20 percent. (a) Draw and label their decision tree under prior information. (b) What is their optimal choice? _____________________
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: (c) What is their expected 1st year profit?$____________ (d) What is their expected value of regret?$____________ (e) If they had access to perfect information, what would be their decision rule?_____________________________ (f) What is the expected value of perfect information? $________________...
View Full Document

{[ snackBarMessage ]}

Ask a homework question - tutors are online