The expected value and choice that offers greatest gain. Introduction: Expected monetary value (EMV) is expected value or payout that has different possible state of nature, each with their associated possibilities.

Question

Gas sales across type: 80% of gas sales tend to be regular. 15% midgrade, 5% tend to be premium. $0.10 increase in price per gallon tends to decrease gallons sold by 1 to 3%. Jan-0.87, Feb-0.95, Mar-1.00, Apr-1.05, May-1.08, Jun1.15, Jul-1.13, Aug-1.07, Sep-1.02, Oct-0.94, Nov-0.89, Dec-0.85. You want the MAPE to be below 20%, if ypu can get it to or below 10% they'll throw in extra $10k. Wont get bonus if it is above 11% or 20%. It cannot be over 20%.

Answer 1

Question

Chapter A, Problem 9P

a)

Summary Introduction

To determine: The expected value and choice that offers greatest gain.

Introduction:

Expected monetary value (EMV) is expected value or payout that has different possible state of nature, each with their associated possibilities.

b)

Summary Introduction

To determine: Whether FZ will be willing to pay for level of demand in future.

Introduction: The maximum value willing to pay in order to gain for information. In EVPI we determine the amount which is willing to pay for the perfect information is said to be EVPI.

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Gas sales across type: 80% of gas sales tend to be regular. 15% midgrade, 5% tend to be premium. $0.10 increase in price per gallon tends to decrease gallons sold by 1 to 3%. Jan-0.87, Feb-0.95, Mar-1.00, Apr-1.05, May-1.08, Jun1.15, Jul-1.13, Aug-1.07, Sep-1.02, Oct-0.94, Nov-0.89, Dec-0.85. You want the MAPE to be below 20%, if ypu can get it to or below 10% they'll throw in extra $10k. Wont get bonus if it is above 11% or 20%. It cannot be over 20%.

help me choose the correct path please. There are other options

Negotiators can gain several benefits from using the strategy of multiple equivalent simultaneous offers. By offering multiple options it reduces the chance of rejection. It also improves the chances of reaching reaching an agreement. By presenting multiple offers, it shows you are flexible. agree with the post

Answer 2

Question

Chapter A, Problem 9P

a)

Summary Introduction

To determine: The expected value and choice that offers greatest gain.

Introduction:

Expected monetary value (EMV) is expected value or payout that has different possible state of nature, each with their associated possibilities.

b)

Summary Introduction

To determine: Whether FZ will be willing to pay for level of demand in future.

Introduction: The maximum value willing to pay in order to gain for information. In EVPI we determine the amount which is willing to pay for the perfect information is said to be EVPI.

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Answer 3

Question

Chapter A, Problem 9P

a)

Summary Introduction

To determine: The expected value and choice that offers greatest gain.

Introduction:

Expected monetary value (EMV) is expected value or payout that has different possible state of nature, each with their associated possibilities.

b)

Summary Introduction

To determine: Whether FZ will be willing to pay for level of demand in future.

Introduction: The maximum value willing to pay in order to gain for information. In EVPI we determine the amount which is willing to pay for the perfect information is said to be EVPI.

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Answer 4

Question

Chapter A, Problem 9P

a)

Summary Introduction

To determine: The expected value and choice that offers greatest gain.

Introduction:

Expected monetary value (EMV) is expected value or payout that has different possible state of nature, each with their associated possibilities.

b)

Summary Introduction

To determine: Whether FZ will be willing to pay for level of demand in future.

Introduction: The maximum value willing to pay in order to gain for information. In EVPI we determine the amount which is willing to pay for the perfect information is said to be EVPI.

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Answer 5

Chapter A, Problem 9P

a)

Summary Introduction

To determine: The expected value and choice that offers greatest gain.

Introduction:

Expected monetary value (EMV) is expected value or payout that has different possible state of nature, each with their associated possibilities.

b)

Summary Introduction

To determine: Whether FZ will be willing to pay for level of demand in future.

Introduction: The maximum value willing to pay in order to gain for information. In EVPI we determine the amount which is willing to pay for the perfect information is said to be EVPI.

Answer 6

Chapter A, Problem 9P

a)

Summary Introduction

To determine: The expected value and choice that offers greatest gain.

Introduction:

Expected monetary value (EMV) is expected value or payout that has different possible state of nature, each with their associated possibilities.

Answer 7

Chapter A, Problem 9P

a)

Summary Introduction

To determine: The expected value and choice that offers greatest gain.

Introduction:

Expected monetary value (EMV) is expected value or payout that has different possible state of nature, each with their associated possibilities.

Answer 8

b)

Summary Introduction

To determine: Whether FZ will be willing to pay for level of demand in future.

Introduction: The maximum value willing to pay in order to gain for information. In EVPI we determine the amount which is willing to pay for the perfect information is said to be EVPI.

Answer 9

b)

Summary Introduction

To determine: Whether FZ will be willing to pay for level of demand in future.

Introduction: The maximum value willing to pay in order to gain for information. In EVPI we determine the amount which is willing to pay for the perfect information is said to be EVPI.

Answer 10

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Ch. A - Prob. 1DQ Ch. A - Prob. 2DQ Ch. A - Prob. 3DQ Ch. A - Prob. 4DQ Ch. A - Prob. 5DQ Ch. A - Question: 6. Explain how decision trees might be...Ch. A - Prob. 7DQ Ch. A - Prob. 8DQ Ch. A - Question 9. Identify the five steps in analyzing a...Ch. A - Prob. 10DQ

The expected value and choice that offers greatest gain. Introduction: Expected monetary value (EMV) is expected value or payout that has different possible state of nature, each with their associated possibilities.

Solution Summary: The author explains that the greatest gain alternative is batch EMV of 1,000,000.

Videos

To determine: The expected value and choice that offers greatest gain.

Introduction:

Expected monetary value (EMV) is expected value or payout that has different possible state of nature, each with their associated possibilities.

To determine: Whether FZ will be willing to pay for level of demand in future.

Introduction: The maximum value willing to pay in order to gain for information. In EVPI we determine the amount which is willing to pay for the perfect information is said to be EVPI.

Chapter A Solutions

The expected value and choice that offers greatest gain. Introduction: Expected monetary value (EMV) is expected value or payout that has different possible state of nature, each with their associated possibilities.

Solution Summary: The author explains that the greatest gain alternative is batch EMV of 1,000,000.

Videos

To determine: The expected value and choice that offers greatest gain. Introduction: Expected monetary value (EMV) is expected value or payout that has different possible state of nature, each with their associated possibilities.

To determine: Whether FZ will be willing to pay for level of demand in future. Introduction: The maximum value willing to pay in order to gain for information. In EVPI we determine the amount which is willing to pay for the perfect information is said to be EVPI.

Chapter A Solutions

To determine: The expected value and choice that offers greatest gain.

Introduction:

Expected monetary value (EMV) is expected value or payout that has different possible state of nature, each with their associated possibilities.

To determine: Whether FZ will be willing to pay for level of demand in future.

Introduction: The maximum value willing to pay in order to gain for information. In EVPI we determine the amount which is willing to pay for the perfect information is said to be EVPI.