38. In Exercise 37, suppose that you also wanted to consider samples of other sizes. (a) Find...
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38. In Exercise 37, suppose that you also wanted to consider samples of other sizes.
(a) Find EVSI for a sample of size 2.
(b) Find EVSI for a sample of size 5.
(c) Find EVSI for a sample of size 10.
(d) If the cost of sampling is .50 per unit sampled, find the expected net gain of sampling (ENGS) for samples of size 1, 2, 5, and 10.
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Related Book For
Statistics Probability Inference And Decision
ISBN: 9780030778056
1st Edition
Authors: Robert L. Winkler, William L. Hays
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