EXAMPLES Example 2: Product Profit Machine Time Assembly Time X 10 3 hrs 2 hrs Y 14 1 hrs 2 hrs Company has 5 workers: 3 Machinists 2 Assemblers Each worker works a maximum of 40 hours/week Decision Making Under Risk: Alternative N P1 011 State of Nature Probability N2 P2 012 NA Pre Ai A2 021 Oin O2 022 An Omi Om2 Omn BUZEBIM_Bolum-1-taslak-en_Week3 Animations Slide Show Review View . I U ab AV Aav . A di v H v Convert to Picture Shapes Text Box SmartArt your free one month trial of Microsoft 365 or sign in to activate an existing subscription. EXAMPLES Here the assumption is: > There are a number of possible future states of "Nature" > Each state has an assigned (or assumed) probability Ri > There may not be one future state with the best possible outcome We choose the alternative A which gives the highest expected value, Ei. Expected Value is calculated as: ,- 30,00 EXAMPLES Example 2: Product Profit Machine Time Assembly Time X 10 3 hrs 2 hrs Y 14 1 hrs 2 hrs Company has 5 workers: 3 Machinists 2 Assemblers Each worker works a maximum of 40 hours/week Decision Making Under Risk: Alternative N P1 011 State of Nature Probability N2 P2 012 NA Pre Ai A2 021 Oin O2 022 An Omi Om2 Omn BUZEBIM_Bolum-1-taslak-en_Week3 Animations Slide Show Review View . I U ab AV Aav . A di v H v Convert to Picture Shapes Text Box SmartArt your free one month trial of Microsoft 365 or sign in to activate an existing subscription. EXAMPLES Here the assumption is: > There are a number of possible future states of "Nature" > Each state has an assigned (or assumed) probability Ri > There may not be one future state with the best possible outcome We choose the alternative A which gives the highest expected value, Ei. Expected Value is calculated as: ,- 30,00