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cost of the operation dep option with respect to the 00) of each option with re

cost of the operation dep option with respect to the 00) of each option with re

MATLAB: An Introduction with Applications
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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Q1 A STATISTIC 

SUBJECT: STATISTIC 

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Q1 Hudson Corporation is considering three options for managing its data processing operation. The first is continuing with its own staff. The second is hiring an outside vendor to do the managing (referred to as outsourcing) and the third is using a combination of its own staff and an outside vendor. The cost of the operation depends on future demand. Table Q1 shows the annual cost of each option with respect to the demand condition: Table Q1: Cost (RM'000) of each option with respect to the demand condition (a) Data Managing Option Own Staff Outside Vendor Combination Determine the decision to be made, and the chance event for the company. (b) (c) (d) Construct an influence diagram. Construct a decision tree. High 650 900 800 Demand Medium 650 600 650 (i) (ii) (iii) Recommend decision based on the use of: Optimistic approach Conservative approach Minimax regret approach Low 600 300 500
Transcribed Image Text:Q1 Hudson Corporation is considering three options for managing its data processing operation. The first is continuing with its own staff. The second is hiring an outside vendor to do the managing (referred to as outsourcing) and the third is using a combination of its own staff and an outside vendor. The cost of the operation depends on future demand. Table Q1 shows the annual cost of each option with respect to the demand condition: Table Q1: Cost (RM'000) of each option with respect to the demand condition (a) Data Managing Option Own Staff Outside Vendor Combination Determine the decision to be made, and the chance event for the company. (b) (c) (d) Construct an influence diagram. Construct a decision tree. High 650 900 800 Demand Medium 650 600 650 (i) (ii) (iii) Recommend decision based on the use of: Optimistic approach Conservative approach Minimax regret approach Low 600 300 500
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