Decision Table with Conditional Values for Happy Company: Product Market Condition and Payoff (RM) Favourable Stable Unfavourable 8,000 5,000 7,000 6,000 3,000 -5,000 -1,200 -1,000 A 6,000 Do Nothing Probability 0.4 0.3 0.3 Opportunity loss table for Happy Company.: MARKET CONDITION AND PAYOFF (RM) MAXIMUM IN A ROW (RM) 5,000 PRODUCT FAVOURABLE STABLE UNFAVOURABLE A 5,000 3,000 3,000 1,200 3,000 1,000 1,000 1,000 Do Nothing Probability 8,000 6,000 8,000 0.4 0.3 0.3 Based on the above data answer the following questions: (a) Construct the expected opportunity loss table for Happy Sdn. Bhd. (b) State the best decision (value and product) under EOL method.

Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Decision Table with Conditional Values for Happy Company:
Product
Market Condition and Payoff (RM)
Favourable
Stable
Unfavourable
8,000
5,000
7,000
6,000
3,000
6,000
-5,000
-1,200
-1,000
A
В
C
Do Nothing
Probability
0.4
0.3
0.3
Opportunity loss table for Happy Company.:
MARKET CONDITION AND PAYOFF (RM)
MAXIMUM IN
PRODUCT
FAVOURABLE
STABLE
UNFAVOURABLE
A ROW (RM)
5,000
5,000
3,000
A
3,000
3,000
1,200
1,000
8,000
1,000
1,000
Do Nothing
Probability
8,000
6,000
0.3
0.4
0.3
Based on the above data answer the following questions:
(a) Construct the expected opportunity loss table for Happy Sdn. Bhd.
(b) State the best decision (value and product) under EOL method.
Transcribed Image Text:Decision Table with Conditional Values for Happy Company: Product Market Condition and Payoff (RM) Favourable Stable Unfavourable 8,000 5,000 7,000 6,000 3,000 6,000 -5,000 -1,200 -1,000 A В C Do Nothing Probability 0.4 0.3 0.3 Opportunity loss table for Happy Company.: MARKET CONDITION AND PAYOFF (RM) MAXIMUM IN PRODUCT FAVOURABLE STABLE UNFAVOURABLE A ROW (RM) 5,000 5,000 3,000 A 3,000 3,000 1,200 1,000 8,000 1,000 1,000 Do Nothing Probability 8,000 6,000 0.3 0.4 0.3 Based on the above data answer the following questions: (a) Construct the expected opportunity loss table for Happy Sdn. Bhd. (b) State the best decision (value and product) under EOL method.
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