In Exercise 19.12, with a probability of 0.1 that a train will be using the crossing, compute the expected opportunity loss for each of Fred’s alternatives. Explain the meaning of the EOL for each alternative.
In exercise
When Fred takes the direct route to work, he gets there in 30 minutes if no train is at the railroad crossing. When a train is using the crossing, his travel time is 15 minutes longer. His alternative is a route that takes 40 minutes to travel, but has no traffic signals or other delays.