COP4355 quiz 30 - information? (c) What is the expected...

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Solutions Manual and Workbook 265 15.3 Van Chauvin has earned a reputation as a reliable market forecaster in the oil and gas business. She has been correct 80% of the time in predicting major market upturns, and 90% of the time in predicting major downturns. (a) Add the decision tree under imperfect information. (b) What is their decision rule under imperfect
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Unformatted text preview: information? (c) What is the expected value of profit using imperfect information?$_______________________________________ (d) What is the expected value of regret? $______________ (e) How much should Debbie and Mark be willing to pay for Ms. Chauvin's forecast? $___________________________ (f) What is the relative efficiency of the forecast? ______%...
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This note was uploaded on 11/13/2011 for the course COP 4355 taught by Professor Koslov during the Spring '10 term at University of Florida.

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