Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In choosing between four new jobs, a business graduate considers the potential payoffs over the next three years. The following table contains four alternative organizations

image text in transcribed
image text in transcribed
In choosing between four new jobs, a business graduate considers the potential payoffs over the next three years. The following table contains four alternative organizations and two states of nature represented by slow promotion and fast promotion. The payoffs for each alternative and each sate of nature is given is the table helow. 5. Which alternative would be chosen using Laplace decision rule? a. H. b. U. c. R. d. I. 6. Which alternative would be chosen using minimax regret decision rule? a. H. b. U. c. R. d. I. 7. Which alternative would be chosen using the expected value rule? (assume the probability of slow promotion is 0.7 , and the probability of fast promotion is 0.3 ) a. H. b. U. c. R. d. I. 8. Which alternative would be chosen using maximin decision rule? a. H. b. U. c. R. d. I. 9. Which alternative would be chosen using maximax decision rule? a. H. b. U. c. R. d

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Capital As Power

Authors: Jonathan Nitzan, Shimshon Bichler

1st Edition

0415496802, 978-0415496803

More Books

Students also viewed these Finance questions

Question

6. Identify characteristics of whiteness.

Answered: 1 week ago

Question

e. What are notable achievements of the group?

Answered: 1 week ago