A) Rachel Placencio 04/29/24 11:05 PM Question 6, E11-30 (similar to) Part 1 of 4 Byson...

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A) Rachel Placencio 04/29/24 11:05 PM Question 6, E11-30 (similar to) Part 1 of 4 Byson Brothers is a produce processing company that specializes in fruits, with apple sales representing the majority of their revenue. (Click the icon to view the additional information.) The following confusion matrices are based on the validation sample. (Click the icon to view the confusion matrices.) Clare estimates that apples of acceptable quality result in a profit of $0.30 per apple. She also knows that low-quality apples can be sold to juice companies at a profit of $0.02. Finally, she estimated that the cost to Byson of selling a low-quality apple to the grocery store as an acceptable-quality apple was $0.98 for - HW Score: 14.08%, 1.69 of 12 points Points: 0 of 1 Save Based on the original information, the team chose the model at 0.30 which predicted a total payoff of $183.60 over the model at 0.50 which predicted a total payoff of $172.80. Assume the same information for Byson Brothers except that now, due to increased competition among grocery stores, the cost to Byson of selling a low-quality apple to the grocery store as an acceptable-quality apple is now $0.68 instead of $0.98 for each low-quality apple. Read the requirements. Requirement 1. Clare realizes that the change in the cost of selling a low-quality apple to the grocery store as an acceptable-quality apple may change the optimal model cutoff. Re-evaluate the two cutoffs based on the new payoff matrix. How does this compare to the original decision to use the model with the 0.30 cutoff? Start by constructing a revised payoff matrix. (Enter amounts to the nearest cent, X.XX. Use a minus sign or parentheses for a loss.) Actual Outcomes Low Quality Acceptable Quality Payoff Matrix Predicted Outcomes Low Quality Acceptable Quality A) Rachel Placencio 04/29/24 11:05 PM Question 6, E11-30 (similar to) Part 1 of 4 Byson Brothers is a produce processing company that specializes in fruits, with apple sales representing the majority of their revenue. (Click the icon to view the additional information.) The following confusion matrices are based on the validation sample. (Click the icon to view the confusion matrices.) Clare estimates that apples of acceptable quality result in a profit of $0.30 per apple. She also knows that low-quality apples can be sold to juice companies at a profit of $0.02. Finally, she estimated that the cost to Byson of selling a low-quality apple to the grocery store as an acceptable-quality apple was $0.98 for - HW Score: 14.08%, 1.69 of 12 points Points: 0 of 1 Save Based on the original information, the team chose the model at 0.30 which predicted a total payoff of $183.60 over the model at 0.50 which predicted a total payoff of $172.80. Assume the same information for Byson Brothers except that now, due to increased competition among grocery stores, the cost to Byson of selling a low-quality apple to the grocery store as an acceptable-quality apple is now $0.68 instead of $0.98 for each low-quality apple. Read the requirements. Requirement 1. Clare realizes that the change in the cost of selling a low-quality apple to the grocery store as an acceptable-quality apple may change the optimal model cutoff. Re-evaluate the two cutoffs based on the new payoff matrix. How does this compare to the original decision to use the model with the 0.30 cutoff? Start by constructing a revised payoff matrix. (Enter amounts to the nearest cent, X.XX. Use a minus sign or parentheses for a loss.) Actual Outcomes Low Quality Acceptable Quality Payoff Matrix Predicted Outcomes Low Quality Acceptable Quality