Question: QUESTION 3: Pavol Table For Decision Making 015 point The following Profit payoff table was obtained from a Real Estate Agent in Victoria, BC for

QUESTION 3: Pavol Table For Decision Making 015 point The following Profit payoff table was obtained from a Real Estate Agent in Victoria, BC for your recommendation Decision Alternatives States of nature 03 RI 130 BO What is the best decision according to the conservative decision strategy? (3 marks) b) Considering the following probabilities for the states of nature, what is the best decision to be chosen? P(SI) - 0,35, P(S2) - 0.45. (8 marks) c) Calculate the Expected value of perfect information. (4 marks) 20 minutes on slide 9 VIVOBOOK Payoff Table For Decision Making (15 points) The following Profit payoff table was obtained from a Real Estate Agent in Victoria, BC for your recommendation. Decision Alternatives States of nature 51 S2 01 S 170 90 D2 -40 210 150 -90 D3 130 80 50 a) What is the best decision according to the conservative decision strategy? (3 marks) b) Considering the following probabilities for the states of nature, what is the best decision to be chosen? P(SI) = 0.35, P(S2) - 0.45. (8 marks) c) Calculate the Expected value of perfect information. (4 marks) 20 minutes on slide O BC Type here to search VMV Book

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