States Of Nature Summary And Decision On Gasoline Availabili

P8states Of Naturesummarydecisiondecisiongasoline Availablitya Maxima

P8 States of Nature Summary Decision Decision Gasoline Availability a) maximax Investment Shortage Stable Supply Surplus Maximum Minimum b) maximin Motel -$8,000 $15,000 $20,000 c) minimax regret Restaurant $2,000 $8,000 $6,000 d) Hurwicz (alpha = 0.4) Theater $6,000 $6,000 $5,000 e) Equal Likelihood Maximax decision = Minimax decision = $0 Regret Table States of Nature Decision Gasoline Availability Investment Shortage Stable Supply Surplus Maximum Motel Restaurant Theater Minimax regret = $0 Hurwicz alpha = 0.4 Decision: 1 - alpha = 0.6 Motel Restaurant Theater P16 Problem 16 - Concessions Decision Tables Data Profit Rain Overcast Sunshine EV Probability 0.3 0.15 0.55 Sun Visor -$ Sun Visors - Umbrella Umbrellas Opportunity Loss Table Rain Overcast Sunshine EOL Probability 0.3 0.15 0.55 Sun Visor $2,000 $1, $855 Sun Visors Umbrella 0 $2,000 $2,900 $1,895 Umbrellas Decision: P24 Problem 24 - Real estate Development Decision Tables Interest Rate Project Decline (0.5) Stable (0.4) Increase (0.1) EV Office park $0.50 $1.70 $4.50 Office park Decision Office building 1.5 1.9 2.5 Office building Warehouse 1.7 1.4 1 Warehouse Mall 0.7 2.4 3.6 Mall Condominiums 3.2 1.5 0.6 Condominiums Opportunity Loss table Interest Rate Project Decline (0.5) Stable (0.4) Increase (0.1) Office park Office building Warehouse Mall Condominiums EVPI P34 Economic Conditions Degree Program Recession Average Good Robust Maximum Minimum Summary Decision Graphic design 145,,,,000 a) maximax Nursing 150,,,,000 b) maximin Real estate 115,,,,000 c) minimax regret Medical technology 130,,,,000 d) Hurwicz (alpha = 0.4) Culinary technology 115,,,,000 e) Equal Likelihood Computer information technology 125,,,,000 Maximax decision = $0 Minimax decision = $0 Regret Table Economic Conditions Degree Program Recession Average Good Robust Graphic design 145,,,,000 Nursing 150,,,,000 Real estate 115,,,,000 Medical technology 130,,,,000 Culinary technology 115,,,,000 Computer information technology 125,,,,000 Equal Likelihood Graphic design Nursing Real estate Medical technology Culinary technology Computer information technology Decision: Hurwicz alpha = 0. - alpha = 0.5 Graphic design Nursing Real estate Medical technology Culinary technology Computer information technology Decision: P36_refP.6 Shortage 0 Problem #25 (reference) Compact Cars 0 Data Results Profit Shortage Surplus EMV .4 Probability 0.6 0.4 Surplus Compact cars Full-sized cars - Trucks .6 Shortage 0 Full-sized cars .4 Surplus Decision .6 Shortage 0 Trucks .4 Surplus ID Name Value Prob Pred Kind NS S1 S2 S3 S4 S5 Row Col Mark 0 TreePlan D TRUE E TRUE E TRUE E TRUE T TRUE T TRUE T TRUE T TRUE T TRUE T TRUE T TRUE T TRUE T TRUE T Chapter_1 Homework #1 Fix Cost Variable Cost sales volume sale Price Revenue Total Cost Profit Revenue Total Cost Profit Revenue Total Cost Profit Revenue Total Cost Profit Revenue Total Cost Profit Revenue Total Cost Profit Revenue Total Cost Profit Revenue Total Cost Profit Revenue Total 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