Data in the matrix below indicates COST expected from 3 alternatives under 4 states of nature. Determine which alternative is dominant using With and Without Probability (use a = 0.3 and probability of: 30%, ; 20%; 40% & 10% for S1, S2, S3, and S4 respectively): Alternatives si S2 S3 S4 A1 10 20 18 15 A2 12 15 25 20 АЗ 15 18 19 25

Data in the matrix below indicates COST expected from 3 alternatives under 4 states of nature. Determine which alternative is dominant using With and Without Probability (use a = 0.3 and probability of: 30%, ; 20%; 40% & 10% for S1, S2, S3, and S4 respectively): Alternatives si S2 S3 S4 A1 10 20 18 15 A2 12 15 25 20 АЗ 15 18 19 25

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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