11. Write down the transition probability matrix for the example C 1 0.5 A 0.5 1 B
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- Example 21.5) The following table shows three states of nature (events) and three actions. The amount that a person will gain in each combination of state of nature and action is shown in the table. Prob- abilities for three states of nature are also given. Action A¡ (Rs) A2 (Rs) A3 (Rs) State of Nature (Event) S, S2 S3 25,000 30,000 40,000 -7,000 50,000 25,000 -18,000 -8,000 60,000 State of nature S3 S2 0.5 Probability 0.3 0.2 (i) Find out values of EP, EPPI and EVPI. (ii) A research firm has agreed to conduct a survey to provide the management with additional infor- mation regarding the states of nature. It will charge Rs 12,000 for undertaking this survey. Do ou think that the survey should be conducted? youBriefly explain stochastic ordering (don’t example types)View History Bookmarks People Tab Window Help Sun 7:15 PM A WeBWorK : M1401-95-SP21 : C X B Geogebra Graphing Calculator X Probability - GeoGebra clayton.edu/webwork2/M1401-95-SP21/Chapter_11/2/?effectiveUser=kwarren5&user=kwarren5&key=DQrsNhtaOFLcVYBFB5to2a5d4aRVMEZvX Upda be O Maps A Macmillan Launch... Chapter 11: Problem 2 Previous Problem Problem List Next Problem It has been suggusted that the highest priority of retirees is travel. Thus, a study was conducted to investigate the differences in the length of stay of a trip for pre- and post-retirees. A e of 698 travelers were asked how long they stayed on a typical trip. The observed results of the study are found below. Number of Nights Pre-retirement Post-retirement Total 4 7 231 175 406 8 – 13 83 62 145 14 21 32 59 91 22 or more 25 31 56 Total 371 327 698 With this information, construct a table of estimated expected values. Number of Nights Pre-retirement Post-retirement 4- 7 8 13 14 21 22 or more %3D Now, with that…
- Stationary Matrix Consider an example where a company initially has a 10% market share. Using an advertising campaign, the probability of a customer will use and stick to the company brand is 80%. On the other hand, the probability of a customers that uses the other Brand is 40%. • Question: If the probabilities remain valid over a long period of time, What happens to the companies market share?Stationary Matrix Consider an example where a company initially has a 10% market share. Using an advertising campaign, the probability of a customer will use and stick to the company brand is 80%. On the other hand, the probability of a customers that uses the other Brand is 40%. • Question: If the probabilities remain valid over a long period of time, What happens to the companies market share?Explain Homoskedasticity-Only Standard Errors of the covariance matrix?
- Given data points (2,-1), (2, 1), (3,2), (0,-1), and (3,-1), compute the sample covariance matrix. Record the entries of covariance matrix row by row as decimal numbers, separated by commas.Answer wellStationary Matrix Consider an example where a company initially has a 10% market share. Using an advertising campaign, the probability of a customer will use and stick to the company brand is 80%. On the other hand, the probability of a customers that uses the other Brand is 40%. • Question: If the probabilities remain valid over a long period of time, What happens to the companies market share?
