Take 10501250 e what is the best decision if southern

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Unformatted text preview: alue? Best Decision by Weak Moderate Strong Very Minimax regret: Minimal Accessories. Strong Decision Regret = $3,500Maximin: (f). If someone has a crystal ball which tells Unfurnished model homes. Decision Unfurnished $0 $500 $1,500 $6,500 the housing market is going to be strong for Payoff = - $1,500 (g). Based on the probabilities sure, what is the value of this perfect Minimal $2,500 $1,000 $0 $3,500 given above, what is the expected information? Payoff (Strong)= $3, 500 with value of perfect information about Accessories Model homes furnished with minimal the housing market if it is Custom $5,500 $0 $1,000 $0 accessories.VPI(Strong)=3500- 1050=$2450 available? EVwPI=.2(- 1500)+ Decorated (a). From above, what is the probability of .4(1500)+ .3(3500)+.1(9500)=$2300. (c).What optimal decision(s) and sequence should EVPI=EVwPI- Best EMV =2300- an average finding if the geologic test Pickens take and what is the expected payoff? Take 1050=$1,250 (e) What is the best decision if Southern manag...
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