If she feels the chances of low, medium, and high demand are 50%, 20%, and 30% respectively, what is her expected value of perfect information?
A) $54,000
B) $55,000
C) $70,000
D) $80,000
E) $135,000
Correct Answer:
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Q47: The maximin strategy would be:
A)buy
B)lease
C)rent
D)high
E)low
Q48: The maximin strategy would be:
A)small
B)Medium
C)med.-large
D)large
E)ex-large
Q49: The minimax regret strategy would be:
A)buy
B)lease
C)rent
D)high
E)low
Q50: If he uses the Laplace criterion, which
Q51: If she uses the Laplace criterion, how
Q53: If she uses the minimax regret criterion,
Q54: The maximax strategy would be:
A)small
B)Medium
C)med.-large
D)large
E)ex-large
Q55: The maximax strategy would be:
A)buy
B)lease
C)rent
D)high
E)low
Q56: If yes and no are equally likely,
Q57: If she feels the chances of low,
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