Ruphone Ltd has a choice of 3 mutually exclusive projects. The profits of the respective projects under different market conditions are as follows: Market conditions Poor Good Excellent Probability 0.2 0.5 0.3 Project L (£000) Project M (£000) 500 470 550 400 550 570 Project N (£000) 450 480 580 Assume that the prediction of the consultant is 80% accurate, with the inaccurate predictions equally spread between the remaining two states of nature. Determine the number of days matrix.

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
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Chapter1: Starting With Matlab
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Ruphone Ltd has a choice of 3 mutually exclusive projects. The profits of the respective projects
under different market conditions are as follows:
Market
conditions
Poor
Good
Excellent
Probability
0.2
0.5
0.3
Project L (£000)
Project M (£000)
500
470
550
400
550
570
Project N (£000)
450
480
580
Assume that the prediction of the consultant is 80% accurate, with the inaccurate predictions equally
spread between the remaining two states of nature. Determine the number of days matrix.
Transcribed Image Text:Ruphone Ltd has a choice of 3 mutually exclusive projects. The profits of the respective projects under different market conditions are as follows: Market conditions Poor Good Excellent Probability 0.2 0.5 0.3 Project L (£000) Project M (£000) 500 470 550 400 550 570 Project N (£000) 450 480 580 Assume that the prediction of the consultant is 80% accurate, with the inaccurate predictions equally spread between the remaining two states of nature. Determine the number of days matrix.
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