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Three decision makers have assessed utilities for the following decision problem (payoff in dollars): State of Nature Decision s, S, S3 Alternative d1 20 50 -20 d2 80 100 -100 The indifference probabilities are as follows: Indifference Probability (p) ITTT Payoff Decision maker A Decision maker B Decision maker C 100 1.00 1.00 1.00 80 0.95 0.70 0.90 50 0.90 0.60 0.75 20 0.70 0.45 0.60 -20 0.50 0.25 0.40 -100 0.00 0.00 0.00 Find a recommended decision for each of the three decision makers, if P(s1) = 0.25, P(s2) = 0.50, and P(s3) = 0.25. (Note: For the same decision problem, different utilities can lead to different decisions.) If required, round your answers to two decimal places. Decision maker A EU(d1) = 0.75 x

Three decision makers have assessed utilities for the following decision problem (payoff in dollars): State of Nature Decision s, S, S3 Alternative d1 20 50 -20 d2 80 100 -100 The indifference probabilities are as follows: Indifference Probability (p) ITTT Payoff Decision maker A Decision maker B Decision maker C 100 1.00 1.00 1.00 80 0.95 0.70 0.90 50 0.90 0.60 0.75 20 0.70 0.45 0.60 -20 0.50 0.25 0.40 -100 0.00 0.00 0.00 Find a recommended decision for each of the three decision makers, if P(s1) = 0.25, P(s2) = 0.50, and P(s3) = 0.25. (Note: For the same decision problem, different utilities can lead to different decisions.) If required, round your answers to two decimal places. Decision maker A EU(d1) = 0.75 x

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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Decision maker A EU(d1) = 0.75 X EU(d2) 0.7375 Recommended decision: di Decision maker B EU(d1) 0.675 X EU(d2) 0.475 Recommended decision: d2 Decision maker C EU(d1) 0.725 EU(d2) 0.625 Recommended decision: d2
Transcribed Image Text:Decision maker A EU(d1) = 0.75 X EU(d2) 0.7375 Recommended decision: di Decision maker B EU(d1) 0.675 X EU(d2) 0.475 Recommended decision: d2 Decision maker C EU(d1) 0.725 EU(d2) 0.625 Recommended decision: d2
Problem 13-29 Three decision makers have assessed utilities for the following decision problem (payoff in dollars): State of Nature Decision S1 S2 S 3 Alternative d 1 20 50 -20 d 2 80 100 -100 The indifference probabilities are as follows: ITTT Indifference Probability (p) Payoff Decision maker A Decision maker B Decision maker C 100 1.00 1.00 1.00 80 0.95 0.70 0.90 50 0.90 0.60 0.75 20 0.70 0.45 0.60 -20 0.50 0.25 0.40 -100 0.00 0.00 0.00 Find a recommended decision for each of the three decision makers, if P(s1) = 0.25, P(s2) = 0.50, and P(s3) = 0.25. (Note: For the same decision problem, different utilities can lead to different decisions.) If required, round your answers to two decimal places. Decision maker A EU(d1) = 0.75 X
Transcribed Image Text:Problem 13-29 Three decision makers have assessed utilities for the following decision problem (payoff in dollars): State of Nature Decision S1 S2 S 3 Alternative d 1 20 50 -20 d 2 80 100 -100 The indifference probabilities are as follows: ITTT Indifference Probability (p) Payoff Decision maker A Decision maker B Decision maker C 100 1.00 1.00 1.00 80 0.95 0.70 0.90 50 0.90 0.60 0.75 20 0.70 0.45 0.60 -20 0.50 0.25 0.40 -100 0.00 0.00 0.00 Find a recommended decision for each of the three decision makers, if P(s1) = 0.25, P(s2) = 0.50, and P(s3) = 0.25. (Note: For the same decision problem, different utilities can lead to different decisions.) If required, round your answers to two decimal places. Decision maker A EU(d1) = 0.75 X
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