Question
The following flipped' decision tree corresponds to a decision problem involving two alter- native decisions D = {d, d} and three states of the
The following flipped' decision tree corresponds to a decision problem involving two alter- native decisions D = {d, d} and three states of the environment X = {, 2, 3). Several numbers are omitted and replaced with the variables a, b, p, q. dy 5.2 21 0.2 22 P 23 q 5 a 6 d dy d di d2 2 b 3 6 (a) Determine the values of a, p, q, b. (b) Draw the non-'flipped' tree for this problem and calculate the EMV. (c) Thus, determine the EVPI for this decision problem.
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Auditing A Practical Approach with Data Analytics
Authors: Raymond N. Johnson, Laura Davis Wiley, Robyn Moroney, Fiona Campbell, Jane Hamilton
1st edition
1119401747, 978-1119401742
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