Question: (a) (10 points) How can deterministic sensitivity analysis benefit your decision making? (b) ( 10 points) Why would we consider risk attitude of the decision

(a) (10 points) How can deterministic sensitivity analysis benefit your decision making? (b) ( 10 points) Why would we consider risk attitude of the decision maker? (c) (10 points) When would you use Monte Carlo simulation to help decision analysis? Problem 2 (50 points) Consider the Swanson case example in Section 11.3 of textbook. The decision tree can be found as Figure 11.3 on page 201. In textbook, value of information of the market size is calculated. There is another important uncertainty - market share. (a) (20 points) Calculate the value of perfect information of the market share. (b) (30 points) Suppose the company can do a test to assess the market share. This test would be 70% accurate in detecting a high (0.25) market share, 90% accurate in detecting a base (0.20) market share, and 85% in detecting a low (0.15) market share. Calculate the value of imperfect information of this test. Problem 3 (20 points) Consider the Consolidated Foods Case Study on page 210 of the textbook. Suppose the utility function is as following: ux={0.004x+0.2,if50x

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