Question: please explain HOW to do it and ill leave a like. also i got 69 but thay wasnt correct 0/2 pts Question 3 A small

please explain HOW to do it and ill leave a like. also i got 69 but thay wasnt correct

0/2 pts Question 3 A small building contractor has recently experienced two successive years in which work opportunities exceeded the firm's capacity. The contractor must now make a decision on capacity for next year. The capacity alternatives are Do Nothing, Expand, and Subcontract. Estimated profits (in thousands) under each of the two possible states of nature (Low Demand, High Demand) are shown in the table below. Using the Laplace decision criterion, what is the maximum average payoff (in thousands)? Low Demand High Demand 59 50 Alternatives: Do Nothing Expand Subcontract 20 77 37 71 You Answered 69,000 Correct Answer 54.5 margin of error +/-0.001

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!

please explain HOW to get 9(the anwser) i converted it to thousands-- but i got 59 but obviously that wasnt anywhere close to the correct answer 0/2 pts Question 4 A small building contractor has...

******ebook converter DEMO Watermarks******* ******ebook converter DEMO Watermarks******* ******ebook converter DEMO Watermarks******* ******ebook converter DEMO Watermarks******* Also by Marcus...

topic: importance of workalike balance for women as a leader in healthcare. 1. The purpose of the research; 2. Research question/s; 3. Findings and relevant data; 4. Any recommendations and; 5. The...

importance of workalike balance for women as a leader in healthcare. 1. The purpose of the research; 2. Research question/s; 3. Findings and relevant data; 4. Any recommendations and; 5. The...

Steve Raucci Please Read Please Summarize and use theses in summary. How would you best describe Steves management style? What was the most surprising thing about the case? What would have done if...

Case Study: please someone should help me answer my case study assignment. thank you 1. What do you do when one of your small competitors pulls out its big gun? 2. "Do you really think people will...

some that this person, who acts on behalf of the organi- , will act ethically because of the organizational con ; placed upon his or her individual behavior. rere is empirical evidence to support the...

Please analyze and contrast the Introduction and Literature Review of the articles below. Paul Krugman by Jason Briggeman30 Paul Krugman (1953-) was raised on Long Island "in a safe middle-class...

Assess the severity of the legal risk for each complaint. Include a summary of the plaintiff's case and potential defenses against each claim. Address the severity of potential legal liability....

Torts Law 1. (1) What are the key principals of a defamation lawsuit by a public figure and why it is more difficult to succeed? (2) What are the key differences between trespass to chattel and...

1. For the linear system 2x + y + z = 1 x + 2y + z = 2 x + y + 2z = 3 , answer the followings: (a) Find matrices A, x and b that express the above linear system as a matrix equation. (b) Find A- and...

Donnegal Company makes and sells artistic frames for pictures. The controller is responsible for preparing the master budget and has accumulated the following information for 2012. Donnegal has a...

Translate the following arguments into symbolic form. Then use conditional or indirect proof to derive the conclusion of each. 1. All ambassadors are wealthy. Furthermore, all Republicans are clever....

What is an example of constructive feedback? provide reference