eferring to the pay-off table, determine which alternative would be chosen under each of these strategies: Possible future demand in OMR Alternative Low Medium High A 12 15 15 B 10 13 16 C 6 8 19 For the data in above table, assume probabilities of: (low demand) = 0.15, (medium demand) = 0.55, and (high demand) = 0.3. Using a Minimax regret approach the value of the lowest regret is. (Write the number only)
eferring to the pay-off table, determine which alternative would be chosen under each of these strategies: Possible future demand in OMR Alternative Low Medium High A 12 15 15 B 10 13 16 C 6 8 19 For the data in above table, assume probabilities of: (low demand) = 0.15, (medium demand) = 0.55, and (high demand) = 0.3. Using a Minimax regret approach the value of the lowest regret is. (Write the number only)
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter9: Decision Making Under Uncertainty
Section9.4: The Precision Tree Add-in
Problem 9P
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eferring to the pay-off table, determine which alternative would be chosen under each of these strategies:
Possible future demand in OMR |
|||
Alternative |
Low |
Medium |
High |
A |
12 |
15 |
15 |
B |
10 |
13 |
16 |
C |
6 |
8 |
19 |
For the data in above table, assume probabilities of: (low demand) = 0.15, (medium demand) = 0.55, and (high demand) = 0.3.
Using a Minimax regret approach the value of the lowest regret is.
(Write the number only)
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