Again referring to Figure 7.16, suppose the decision maker has not yet assessed P (Dry) for Site

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Again referring to Figure 7.16, suppose the decision maker has not yet assessed P (Dry) for Site 2 or P(Dome) for Site 1. Let P(Dry) = p and P(Dome) = q . Construct a two-way sensitivity analysis graph for this decision problem.

Figure 7.16

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Making Hard Decisions with decision tools

ISBN: 978-0538797573

3rd edition

Authors: Robert Clemen, Terence Reilly

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Question Posted: Dec 22, 2015 02:00 AM

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Again referring to Figure 7.16, suppose the decision maker has not yet assessed P (Dry) for Site

Question:

Dry (0.60) -100,000 w 10.25-150.000 500,000 )--100.000 Low (0.125)150.000 52.50K Donie (0.6) High (0.15) No\53.75K/ Dry Dome Site 1 (EMV= 10K) 10.8501 150,000 10,025)-500,000 0.4) High 200K OK Dry (0.2) Site 2 (EMV =0) Low (0.8)

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Choose Site 1 if EMV Site 1 EMV Site ...View the full answer

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