i need all (a) (b) (c) thank you very much

company is planning to re-equip one of its major production plants and one prices of the two machines are very similar so the choice of machine is to be 156 DECISION MAKING UNDER UNCERTAINTY EXERCISES factors can be represented by the variables average weekly operating cost and based on two factors: running costs and reliability. It is agreed that these two tion manager estimates that the following probability distributions apply to the two machines. It can be assumed that the probability distributions for operating costs and number of breakdowns are independent. Zeta Average weekly operating costs (5) 20 000 30 000 (8) The managers of the bicycle braking sys although the mecha mainly plastic com the design chosen of the technology characteristics of t The leader of L if the plastic desig would add 130 g time of 1 year. H 2-year lifetime cc Alternatively, that there is a weighing 250 a 30% chance to 3 years and wo It was establ were mutually from him: Prob. No. of breakdowns Prob. 0.6 0.4 0 0.15 0.85 Precision 11 Average weekly operating costs (5) Prob. 15000 0.5 35000 0.5 No. of breakdowns Prob. 0 1 2 0.2 0.7 0.1 Weight to Details of the manager's utility functions for operating costs and number of breakdowns are shown below: 130 180 250 Average weekly operating costs ($) Utility No. of breakdown 2009 two machines. It can be assumed that the probability distributions for operating costs and number of breakdowns are independent. Average weekly operating costs (5) Zeta Prob. No. of breakdowns Pro 20 000 30 000 0.6 0.4 0 1 0.15 0.85 The if the plastic would add 1 time of 1 year 2-year lifetim Alternativ that there weighing 25 a 30% chand 3 years and It was est were mutu from him Precision 11 Prot No. of breakdowns Prob. Average weekly operating costs (5) 15000 35 000 0.5 0 1 2 02 0.7 0.5 Weight Details of the manager's utility functions for operating costs and number breakdowns are shown below: 130 180 250 290 Utility No. of breakdowns Un Average weekly operating costs ($) 15 000 20 000 30 000 35 000 1.0 0.8 0.3 0 NO 10 09 0 After fur between A. A pro lifetin B. Aga (a) The production manager's responses to questions reveal that, for him, te two attributes are mutually utility independent. Explain what this means (b) The production manager also indicates that for him, k, = 0.7 (where attribut 1 = operating costs) and k, = 0.5. Discuss how these values could have bed determined. (c) Which machine has the highest expected utility for the production manager with FL tive . company is planning to re-equip one of its major production plants and one prices of the two machines are very similar so the choice of machine is to be 156 DECISION MAKING UNDER UNCERTAINTY EXERCISES factors can be represented by the variables average weekly operating cost and based on two factors: running costs and reliability. It is agreed that these two tion manager estimates that the following probability distributions apply to the two machines. It can be assumed that the probability distributions for operating costs and number of breakdowns are independent. Zeta Average weekly operating costs (5) 20 000 30 000 (8) The managers of the bicycle braking sys although the mecha mainly plastic com the design chosen of the technology characteristics of t The leader of L if the plastic desig would add 130 g time of 1 year. H 2-year lifetime cc Alternatively, that there is a weighing 250 a 30% chance to 3 years and wo It was establ were mutually from him: Prob. No. of breakdowns Prob. 0.6 0.4 0 0.15 0.85 Precision 11 Average weekly operating costs (5) Prob. 15000 0.5 35000 0.5 No. of breakdowns Prob. 0 1 2 0.2 0.7 0.1 Weight to Details of the manager's utility functions for operating costs and number of breakdowns are shown below: 130 180 250 Average weekly operating costs ($) Utility No. of breakdown 2009 two machines. It can be assumed that the probability distributions for operating costs and number of breakdowns are independent. Average weekly operating costs (5) Zeta Prob. No. of breakdowns Pro 20 000 30 000 0.6 0.4 0 1 0.15 0.85 The if the plastic would add 1 time of 1 year 2-year lifetim Alternativ that there weighing 25 a 30% chand 3 years and It was est were mutu from him Precision 11 Prot No. of breakdowns Prob. Average weekly operating costs (5) 15000 35 000 0.5 0 1 2 02 0.7 0.5 Weight Details of the manager's utility functions for operating costs and number breakdowns are shown below: 130 180 250 290 Utility No. of breakdowns Un Average weekly operating costs ($) 15 000 20 000 30 000 35 000 1.0 0.8 0.3 0 NO 10 09 0 After fur between A. A pro lifetin B. Aga (a) The production manager's responses to questions reveal that, for him, te two attributes are mutually utility independent. Explain what this means (b) The production manager also indicates that for him, k, = 0.7 (where attribut 1 = operating costs) and k, = 0.5. Discuss how these values could have bed determined. (c) Which machine has the highest expected utility for the production manager with FL tive