An electronics factory operates on four production lines: laptops, mobiles, desktop computers, smart boards, and there were three cases of demand (weak, medium, and high), and the matrix of returns was as follows: Laptops Mobiles Desktop Computers Smart Boards Certainty Uncertainty Risk High 40 45 35 30 Economic state Medium 25 15 30 1. The problem presented above is decision-making under....... 20 Weak 10 5 -10 -5
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- ABC company wants to open one, two, or three shops. The average Profit varies with the demand in three categories low, medium and high. Determine which one is better using Maximax, Maximin, Laplace, Minimax regret. Demand Number of Shops 1 2 3 Low 150 175 200 Medium 100 200 200 High 0 170 400A situation in which a decision maker must choose between strategies that have more than one possible outcome when the probability of each outcome is unknown is referred to as: O certainty diversification risk O uncertainty MacBook Air 000 000 DD F7 F5 6日 5. 8.3. The manager for a manufacturing company must recommend whether to construct a large plant, construct a small plant or do nothing. He estimates the long-run profits in $ as follows: State of Nature Alternative Good Average Poor Market($) Market ($) Market ($) Construct a 100,000 35,000 -60,000 large plant Construct a 75,000 25,000 -40,000 small plant Do nothing -5,000 0 0 Probability 25% 50% 25% Solve using: A. Expected Opportunity Loss B. Expected Value of Perfect Information
- A decision tree is a graphic display of the decision process that indicates decision alternatives, states of nature and their respective probabilities, and payoffs for each combination of alternative and states of nature. O True O False * Previous Next ► MacBook Air 000 000 DD F7 セゴ F5 $ & レ 9 * 00I want to answer to solve ㅠㅠㅠㅠ. Q1. A builder has located a piece of property that she would like to but and eventually build on. The land is currently zoned for four homes per acre, but she is planning to request new zoning. What she builds depends on approval of zoning requests and your analysis of this problem to advise her. With her input and your help, the decision process has been reduced to the following costs, alternatives, and probabilities Cost of land $2 MillionProbability of rezoning .6If the land is rezoned, there will be additional costs for new roads, lighting, and so on of $1 million. If the land is rezoned, the contractor must decide whether to build a shopping center or 1,500 apartments that the tentative plan shows would be possible. If she builds a shopping center, there is a 70% chance that she can sell the shopping center to a large department store chin for $4 million over her construction cost, which excludes the land; and there is a 30% chance that she can…Discuss the following statement: “Economists are predicting that interest rates willcontinue to be under 10 percent for at least 15 years.”
- Exclusive Footwear Ltd experiencing profit declining in recent times... In the light of the above research, suggest a list of variables (e.g. IV, DV, or MV), develop conceptual model, and discuss their nature and potential relation to each other with proper justification. Develop relevant hypothesis for the variables.The Gorman Manufacturing Company must decide whether to manufacture a component part at its Milan, Michigan, plant or purchase the component part from a supplier. The resulting profit is dependent upon the demand for the product. The following payoff table shows the projected profit (in thousands of dollars): Decision State of Nature Alternative Low Demand (S1) Medium Demand (S2) High Demand )S3) Manufacture, d(1) -20 40 100 Purchase, d(2) 10 45 70 The state-of-nature probabilities are P s1= 0.35, P s2= 0.35, and P s3= 0.30 Use expected value to recommend a decision.4. A portfoho manager believes that tomorrow s foreign exchange of the Euro per US dollar will be nomally distributed with mean 2.03 and standard deviation 0.08. Using the manager's mumbers, answer the following questions: a What is the probability that tomorrow's rate will be above 2.08? b. What is the probability that tomorrow s rate will be below 1.87? What is the probability that tomorrow's rate will be between 2.00 and 2.20? a. C. 5. A student is guessing on a ten question multiple choice quiz, the probability of guessing correctly on the each question is .20. What is the probability that the student gets exactly 2 questions right? What is the probability that she would guess more than less than four questions right? 1S 6. An investment has probabilities 0.1, 0.2,0.35, 0.25 and 0.1 of giving returns equal to 40%, 30%, 15%, 5% and -15%. What is the expected retum and standard deviation of returns? 7. The holders of an insurance policy file clams at an average rate of 0.45 per year.…
- Decision Tree Analysis. You are considering the decision to purchase a machine for internal production or to subcontract the work to an external source. The following information has been provided by your financial managers: Cost to purchase the machine—$35,000 Cost to subcontract the work—$5,000 Probability of a good market = 70% Probability of a poor market = 30% Reward if the prediction occurs: In the purchase machine decision good market scenario—$80,000; in the poor market scenario—$30,000 In the Subcontract decision good market scenario—$50,000; in the poor market scenario—$15,000 1. What is the expected value of the decision to purchase the machine?How is EMV calculated for these steps. What is the probability and impact in these questions. 1) Should you play at all? (5%) If you play, what is your expected (net) monetary value? (15%)2) If you play and don't win at all on the first try (but don't lose money), should you try again? (5%) Why? (10%)3) Clearly show the decision tree (40%) and expected net monetary value at each node (25%) If you send in your entry before midnight tonight, then here are your chances: 0.1% that you win $1,000,000 75% that you win nothing Otherwise, you must PAY $1,000 But wait, there's more! If you don't win the million AND you don't have to pay on your first attempt, then you can choose to play one more time. If you choose to play again, then here are your chances: 2% that you win $100,000 20% that you win $500 Otherwise, you must PAY $2,000Over the years, the food company Nestle’s Maggi Noddles which are high marketshare with low growth markets. The company with a market share of 80-85 %, MaggiNoddles holds a very strong hold in the market and have high customer loyalty. Theproduct requires very less investment to maintain its market share and fight off anycompetition.In the case of Nestle, Nestle’s Mineral Water and Nestle’s Nescafe Coffee fall inthe high market share in high growth industry. Growing healthier lifestyle trends andemerging markets have prompted the brand to invest large amounts of investments inorder to differentiate the bottled water brands from competitors in mature markets andgrow brand awareness in emerging markets.There are products that formulate a part of the industry that is still in the phase ofdevelopment, yet the organization has not been able to create a significant position inthat industry. The small market share obtained by the organization makes the futureoutlook for the product uncertain,…