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After running the R script, There are so many values not sure. can some explain to me and tell me the EMV values for 1,
After running the "R" script, There are so many values not sure. can some explain to me and tell me the EMV values for 1, 2, 3, and 4? write it out for me please
Starting with the finished version of the file for Figure 6.21 for Acme, change the probabilities in cells 89 for P(good), the prior probability of a good market outcome (make it smaller in 0.05 increments), B14 for P(good | good), the conditional probability of having a good prediction, given a good market outcome (make It larger in 0.05 increments), and 815 for P(good | bad), the conditional probability of having a good prediction, given a bad market outcome (make it smaller in 0.05 increments.) For each combination calculate the EMV and decide whether Acme should hire the marketing research firm. Round your answers (in $1,000s) to one decimal place, If necessary. P(good) P(good | good) P(good | bad) Hire firm? EMV 0.40 0.80 0.30 Yes 2 0.35 0.85 0.25 Yes 0.30 0.90 0.20 0.25 0.95 0.15Starting with the finished version of the file for Figure 6.21 for Acme, change the probabilities in cells 89 for P(good), the prior probability of a good market outcome (make it smaller in 0.05 increments), B14 for P(good | good), the conditional probability of having a good prediction, given a good market outcome (make It larger in 0.05 increments), and 815 for P(good | bad), the conditional probability of having a good prediction, given a bad market outcome (make it smaller in 0.05 increments.) For each combination calculate the EMV and decide whether Acme should hire the marketing research firm. Round your answers (in $1,000s) to one decimal place, If necessary. P(good) P(good | good) P(good | bad) Hire firm? EMV 0.40 0.80 0.30 Yes 2 0.35 0.85 0.25 Yes 0.30 0.90 0.20 0.25 0.95 0.15Step by Step Solution
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