Decision Table with Conditional Values for Happy Company:ProductMarket Condition and Payoff (RM)FavourableStableUnfavourable8,0005,0007,0006,0003,0006,000-5,000-1,200-1,000AВCDo NothingProbability0.40.30.3Opportunity loss table for Happy Company.:MARKET CONDITION AND PAYOFF (RM)MAXIMUM INPRODUCTFAVOURABLESTABLEUNFAVOURABLEA ROW (RM)5,0005,0003,000A3,0003,0001,2001,0008,0001,0001,000Do NothingProbability8,0006,0000.30.40.3Based 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.

When the decision needs to be made under uncertainty, and the probability of each state of nature is…

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.

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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