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A consulting firm provides information that appears in the table below Alternatives Good Average Bad Alter / Prob 0.45 0.35 0.2 Large 20 8
A consulting firm provides information that appears in the table below Alternatives Good Average Bad Alter / Prob 0.45 0.35 0.2 Large 20 8 2 Medium 8 10 6 Small 6 3 4 a. Table 1, Average market price for rain coats for 2017 to 2018 Draw the decision tree base on the probability of the weather (0.45, 0.35 & 0.20) b. Determine the overall maximum regret. C. What would be the calculated optimist (Laplace) criteria? d. What would be the Expected Monetary Value (EMV) based on the probabilities? e. What decision can you conclude
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Business Forecasting With Forecast X
Authors: Holton Wilson, Barry Keating, John Solutions Inc
6th Edition
73373648, 978-9339220426, 9339220420, 978-0073373645
