Formulate the payoff table. b. Determine the best decision and payoff is maximin and equally likely criteria are used. Answers in figure only without comma or units. If there are more than 2 answers, put an NA to excess brackets. Maximin: Decision: Order Blank 17 Payoff = Blank 18 Equally Likely: Decision: Order Blank 19, Blank 20, Blank 21 Payoff = Blank 22 c. If the coefficient of pessimism is 0.4, determine the best decision and payoff using Hurwicz criterion. Answers in figure only without comma or units. Hurwicz: Decision: Order Blank 23 Payoff= Blank 24
waldo needs to decide how many copies of a new hardcover release to purchase for its shelves. The store has assumed that demand will be 50, 100, 150, or 200 copies next month and they need to decide whether to order 50, 100, 150 or 200 books for this period. Each book costs Waldo PhP50 and can be sold for PhP85. Waldo can sell any unsold books back to their supplier for PhP15.
a. Formulate the payoff table.
b. Determine the best decision and payoff is maximin and equally likely criteria are used. Answers in figure only without comma or units. If there are more than 2 answers, put an NA to excess brackets.
Maximin: Decision: Order Blank 17 Payoff = Blank 18
Equally Likely: Decision: Order Blank 19, Blank 20, Blank 21 Payoff = Blank 22
c. If the coefficient of pessimism is 0.4, determine the best decision and payoff using Hurwicz criterion. Answers in figure only without comma or units.
Hurwicz: Decision: Order Blank 23 Payoff= Blank 24
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