Question: After contemplating the caseload question see previous problem the director

After contemplating the caseload question (see previous problem), the director of social services has decided that reasonable caseload probabilities are .10 for moderate, .30 for high, and .60 for very high.
a. Which alternative will yield the minimum expected cost?
b. Construct a decision tree for this problem. Indicate the expected costs for the three decision branches.
c. Determine the expected value of perfect information using an opportunity loss table.


View Solution:


Sale on SolutionInn
Sales0
Views89
Comments
  • CreatedDecember 30, 2014
  • Files Included
Post your question
5000