Question: please answer thanks IE 182P-OPERATIONS RESEARCH Activity 1 - Decision Analysis 1. National Bookstore (NBS) needs to decide how many copies of a new hardcover

please answer thanks IE 182P-OPERATIONS RESEARCH

please answer thanks

IE 182P-OPERATIONS RESEARCH Activity 1 - Decision Analysis 1. National Bookstore (NBS) needs to decide how many copies of a new hardcover release to purchase for its shelves. The store has assumed that demand will be 50, 100, 150, or 200 copies next month and they need to decide whether to order 50, 100, 150 or 200 books for this period. Each book costs Waldo Php50 and can be sold for PhP85. Waldo can sell any unsold books back to their supplier for PhP15. a. Formulate the payoff table. b. If the probability for all states of nature is equal, show the equation to compute expected value. c. What is the expected value given perfect information d. If the coefficient of pessimism is 0.4, show the equation of the Hurwicz criterion for all alternatives and determine the best decision. e. Construct the regret table of this

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

1. From the scenario, cite your forecasting conclusions that support TFC?s decision to expand to the West Coast market. Speculate as to whether or not the agency conflict discussed in the scenario...

Montonya Company has the following selected data for the current year: Sales (10,000 units) $90,000 Direct materials 30,000 Direct labor costs 10,000 Variable manufacturing overhead 3,500 Fixed...

Please answer below with elaborative justification from the attached cases below: What is similar and different about the two case companies? How important is the ProFusion platform to Adnexus?...

I have attached the question. I will post student question when I receive one later. Chapter 2, Customer Behavior and 3, Segmentation of textbook can also be used. Marketing Management: MKT500 Week 1...

Can someone please help me answer the four questions on the first two pages? NA0274 Cavendish Cove Cottages Sean Hennessey, University of Prince Edward Island \"I just don't know if the asking price...

Im having trouble with question 3 part A of the attached file. I know and understand her needs but im not sure if im filling out the table correctly ? Assignment Tier 1 Financial Planning...

i need help from section 3 part A I have already posted this and you asked me to post under advanced option Assignment Tier 1 Financial Planning (Tier1FPPA_AS_v1A3) Page 2 of 92 Student...

Convergence at Meeack Corp.: On December 31, 2015, Ms. Levine CPA, your manager and the treasurer of the U.S. division of the pharmaceutical company Meeack Corp. had just finished acquiring the...

As the state director of mental health programs, you note that some local mental health facilities have very high rates of staff turnover. You believe that part of this problem is a result of the...

Two balanced dice are rolled. Refer to Fig. 5.1 on page 187 and determine the probability that the sum of the dice is IN FIGURE a. 6. b. even. c. 7 or 11. d. 2, 3, or 12.

Adam, a Medicare beneficiary, incurred a charge of $ 1 0 0 for a phylcian's affice wist. What amount of this charge will be Adam's responsibility under Part B ' s colnsurance requirement? a . 5 5 b ....

Assuming 30 days/month Grooming $30= 3 grooms/day Daycare $20= 12 dogs/Day Boarding $25= 12 dogs/Day I assume the formula for revenue would be for example ($30*3)*30 days. I just want to be sure that...