PAYOFF TABLE OPPORT. LOSS TABLE STATES OF NATURE STATES OF NATURE ACT #1 #2 #3 ACT #1 #2 #3 (.5) (.3) (.2) (.5) (.3) (.2) A 120 35 -10 A B 75 40 80 B C 10 90 20 C 1. Find the following: a. Maximax b. Maximin c. Laplace d. Minimax regret (need to use the opportunity loss table) 2. Determine the expected profit (EMV) of each act. Which act is best? 3. Determine the expected opportunity loss (EOL) of each act. Which act is best?

PAYOFF TABLE OPPORT. LOSS TABLE STATES OF NATURE STATES OF NATURE ACT #1 #2 #3 ACT #1 #2 #3 (.5) (.3) (.2) (.5) (.3) (.2) A 120 35 -10 A B 75 40 80 B C 10 90 20 C 1. Find the following: a. Maximax b. Maximin c. Laplace d. Minimax regret (need to use the opportunity loss table) 2. Determine the expected profit (EMV) of each act. Which act is best? 3. Determine the expected opportunity loss (EOL) of each act. Which act is best?

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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