Maurice Tutor

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    Argosy University/ Phoniex University/
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Category > Management Posted 26 Oct 2017 My Price 3.00

decision scenario,

1. What is Expected value for this decision scenario, given that Pr(good) = 0.7? (15 points)

 

 

 

Assume you will face this decision scenario yearly for many years.

Good conditions will happen 70% of the time

Poor conditions will happen 30% of the time

But will only be known after you have chosen an alternative. Which alternative you will select based on the Expected value.

 

Answers

Maurice Tutor
(5)
Status NEW Posted 26 Oct 2017 11:10 AM My Price 3.00

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