Question: Arkadiology illustrated in Section 1 . 9 . 3 , performance measures, manager in charge of is a Serbian manufacturer of diesel engines. The logistics
Arkadiology illustrated in Section performance measures, manager in charge of is a Serbian manufacturer of diesel engines. The logistics manager in charge of designing the supply chain for product named WMF has identified four configurations denoted as i in the following Based on the judgement of a panel of experts see Section for more details the"
The text from the second image png is as follows:
"Table Profit in k for each configurationdemand scenario pair in the Arka problem.
Demand in the next five years
Configuration i low medium high
demand in the next five years is expected to be high, medium, or low, with probabilities and respectively. An indepth analysis of the company's cost structure has allowed the manager to determine the profit of the four configurations for every demand scenario see Table Determine the optimal configurations with respect to the Bayes criterion. Also compute the expected value under perfect information."
It seems that these texts are taken from a case study or problem description involving decisionmaking under uncertainty for a company's logistics configurations. The Bayes criterion mentioned in the problem is a decision rule that takes into account the probability of each state of nature and chooses the decision that maximizes the expected payoff.
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