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Low probab 0.10 ility order size 1 lot 220 2 lots 126 3 lots 59 nd Medui m 0.43 189 84 24 High 251 151 47 Assume that the propabilities of low demand = 0.10 and meduim deman= 0.43 By using the above information, the expected value of perfect information (EVPI)

Low probab 0.10 ility order size 1 lot 220 2 lots 126 3 lots 59 nd Medui m 0.43 189 84 24 High 251 151 47 Assume that the propabilities of low demand = 0.10 and meduim deman= 0.43 By using the above information, the expected value of perfect information (EVPI)

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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LF company must decide how many lots of assorted ski wear to order for its three stores. Information on profit has led to the following payoff table probab ility order size 1 lot 2 lots 3 lots Low 0.10 Dema nd Medui m 0.43 220 189 126 84 59 24 High 251 151 47 Assume that the propabilities of low demand = 0.10 and meduim deman = 0.43 By using the above information, the expected value of perfect information (EVPI)
Transcribed Image Text:LF company must decide how many lots of assorted ski wear to order for its three stores. Information on profit has led to the following payoff table probab ility order size 1 lot 2 lots 3 lots Low 0.10 Dema nd Medui m 0.43 220 189 126 84 59 24 High 251 151 47 Assume that the propabilities of low demand = 0.10 and meduim deman = 0.43 By using the above information, the expected value of perfect information (EVPI)
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