(1) Use the probability wheel and direct estimate methods to elicit a colleagues subjective probabilities for the...
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(1) Use the probability wheel and direct estimate methods to elicit a colleague’s subjective probabilities for the outcomes of a forthcoming sports event (e.g., a snooker tournament). Check for consistency between the assessment methods and use the addition rule to evaluate the coherence of the probabilities that your colleague has assessed.
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Decision Analysis For Management Judgment
ISBN: 9781118740736,9781118889251
5th Edition
Authors: Paul Goodwin , George Wright
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