In the simple three-decision, three-outcome example, we found that decision D3 is the EMV-maximizing decision for the
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In the simple three-decision, three-outcome example, we found that decision D3 is the EMV-maximizing decision for the probabilities we used. See whether you can find probabilities that make decision D1 the best.
See if you can find probabilities that make decision D2 the best. Qualitatively, how can you explain the results;
that is, which types of probabilities tend to favor the various decisions?
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Related Book For
Practical Management Science, Revised
ISBN: 9781118373439
3rd Edition
Authors: Wayne L Winston, S. Christian Albright
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