None Alma has decided to apply the Realism (Hurwicz) criterion (with a = 0.63) to find thebest decision alternative d; in the payoff table below. Payoffs are profits.Find X that will make Alma indifferent between alternatives d₁ and d₂.8182d₁90140d260XChoose the closest value to X among the following options:01550143O 15801370191O 22601780165O 176

From the given table we know that the best outcome for discussion d1 is s2 = 140:For d1: - Best…

Answered: Alma has decided to apply the Realism…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Similar questions

Let x1 and x2 be the payoffs of two investment
The Acme Widget Company has found that if widgets are priced at $ 212, then 46000 will be sold. They have also found that for every increase of $ 12, there will be 500 fewer widgets sold. The marginal cost of widgets is $ 159. The fixed costs for the Acme Widget Company are $ 18000. If a represents the price of a widget find the following in terms of : The number of widgets that will be sold: The revenue generated by the sale of widgets: The cost of producing just enough widgets to meet demand: The profit from selling widgets: Find the price that will maximize profits from the sale of widgets:
Suppose the utility function (2.38) is replaced by a. Derive the first order conditions for the household’s optimal money holdings. b. Show how (2.43) and (2.44) are altered with this specification of the utility function.
Consider the following model of a market for a good, in which Qs is quantity produced, Qd is quantity purchased and P is the price of the good. Qs=j+kP Qd=l-mP When Qs=Qd, what will the price be? a. (k+m)/(l-j) b. (l-j)/(k+m) c. (k-m)/(l+j) d. (l+j)/(k-m)
The following payoff table summarises a decision problem: R(D,X) X1 X2 X3 d1 d2 d3 P(X=x¡) 32 43 69 D 20 83 41 89 13 57 0.18 0.33 0.49 Determine the best decision based on the maximin criterion. (Enter the index/number corresponding to the best decision.)
The company knows that the city will build the new sports stadium in either the eastern or western suburb of the city, but the city has not made a final decision. The company needs to buy the land before the stadium final decision is made public, in order to save money on the purchase price of the land, which will probably increase substantially when the location for the new stadium is made public. The following payoff table shows profit for a decision analysis problem with four different decision alternatives d1-d4 and two states of nature s1-s2. …payoff written in parentheses means a negative value. What is the recommended decision using the expected value approach if the p(s1)=0.6 and p(s2)=0.4? Find the expected value with perfect information. Find expected value of perfect information.
Class Exercise 2: Player I holds a black Ace and a red 8. Player II holds a red 2 and a black 7. The players simultaneously choose a card to play. If the chosen cards are of the same color, Player I wins. Player II wins if the cards are of different colors. The amount won is a number of rands equal to the number on the winner's card (Ace counts as 1.) Set up the payoff function.
The Acme Widget Company has found that if widgets are priced at $ 101, then 1000 will be sold. They have also found that for every increase of $ 11, there will be 700 fewer widgets sold.The marginal cost of widgets is $ 50.5. The fixed costs for the Acme Widget Company are $ 10000.If xx represents the price of a widget find the following in terms of xx:The number of widgets that will be sold: The revenue generated by the sale of widgets: The cost of producing just enough widgets to meet demand: The profit from selling widgets: Find the price that will maximize profits from the sale of widgets:
An electronics retailer offers an optional protection plan for a mobile phone it sells. Customers can choose to buy the protection plan for $100 and in case of an accident, the customer pays a $50 deductible and the retailer will cover the rest of the cost of that repair. The typical cost to the retailer is $200 per repair, and the plan covers a maximum of 3 repairs. Let X be the number of repairs a randomly chosen customer uses under the protection plan, and let F be the retailer's profit from one of these protection plans. Based on data from all of its customers, here are the probability distributions of X and F: Calculate the mean of X.
There is the sale of two types of candy bars which have the profit $0.85 and $ 1.75 per bar respectively. Furthermore, the supplier offers an incentive of $0.75 if the total candy bars sold exceeds 1,500. Determine the function where p equals the profit and Xj equals the number of bar sold each type. If 550 and 750 bars are sold respectively, what is the expected profit? If 900 and 1150 are sold, what is the expected profit?
A farmer wants to decide which of the three crops he should plant on his 100-acre farm. The profit from each is dependent on the rainfall during the growing seasons. The farmer has categorized the amount of rainfall as high, medium, low. His estimated profit for each is shown in the table. If the farmer wishes to plant only one crop, decide which will be his choice using the EQUALLY-LIKELY rule, prove your judgement by comparing the average pay-offs for each crop. (Indicate the equally-likely pay-off in each crop, comparison and the right choice).
A farmer wants to decide which of the three crops he should plant on his 100-acre farm. The profit from each is dependent on the rainfall during the growing seasons. The farmer has categorized the amount of rainfall as high, medium, low. His estimated profit for each is shown in the table. If the farmer wishes to plant only one crop, decide which will be his choice using the EQUALLY-LIKELY rule, prove your judgement by comparing the average pay-offs for each crop. (Indicate the equally likely pay-off in each crop, comparison and the right choice).

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