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Problem 12.13 - Problem 12.13 Excel Solution Making Hard...

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Problem 12.13- Excel Solution Making Hard Decisions with DecisionTools by Robert T. Clemen & Terence Reilly #ADDIN? #ADDIN? 50 #ADDIN? 50.0% Decision 0 #ADDIN? #ADDIN? #ADDIN? 22.5 #ADDIN? #ADDIN? #ADDIN? 29.5 #ADDIN? #ADDIN? Chance 0 #ADDIN? #ADDIN? #ADDIN? 0 #ADDIN? 50.0% Decision 0 #ADDIN? #ADDIN? #ADDIN? 5 #ADDIN? #ADDIN? #ADDIN? 2 #ADDIN? 50.0% #ADDIN? 50 #ADDIN? #ADDIN? Chance #ADDIN? #ADDIN? 50.0% #ADDIN? 0 #ADDIN? Decision #ADDIN? 50.0% #ADDIN? 22.5 #ADDIN? #ADDIN? Chance #ADDIN? #ADDIN? 50.0% #ADDIN? 5 #ADDIN? 50.0% #ADDIN? 29.5 #ADDIN? #ADDIN? Chance #ADDIN? #ADDIN? 50.0% #ADDIN? 2 #ADDIN? Freeze Freeze No Freeze No Freeze Freeze Freeze No Freeze No Freeze Freeze Freeze No Freeze Get information Get information Do nothing Do nothing Set burners Set burners Use sprinklers Use sprinklers Problem 12.13a Problem 12.13a Freeze Freeze No Freeze No Freeze Do nothing Do nothing Burners Burners Sprinklers Sprinklers Do nothing Do nothing Burners Burners Sprinklers Sprinklers EVPI = E(Loss|Burner) - E(Loss|Info) = $13.75K - $11.25K = $2.5K
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50.0% #ADDIN? 50000 #ADDIN? #ADDIN? Chance #ADDIN? #ADDIN?
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