8 B 10 12 C 20 6
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
a.Below you are given a profit payoff table involving three decision alternatives and two states of nature.
|
|
States of Nature |
|
|
Decision Alternative |
s1 |
s2 |
|
A |
5 |
8 |
|
B |
10 |
12 |
|
C |
20 |
6 |
The probability that s1 will occur is 0.2. The
b.
Below you are given a profit payoff table involving three decision alternatives and two states of nature.
|
|
States of Nature |
|
|
Decision Alternative |
s1 |
s2 |
|
A |
5 |
8 |
|
B |
10 |
12 |
|
C |
20 |
6 |
The probability that s1 will occur is 0.2. The expected value of the best alternative is 9.6. True or false
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