Question: Question 9: Efficiency Analysis(12P) The following table shows the distribution of net revenues of alternative farming activities (A to D). Statistics A B C D
Question 9: Efficiency Analysis(12P)
The following table shows the distribution of net revenues of alternative farming activities (A to D).
Statistics
A
B
C
D
E[x]
948.43
778.08
373.60
489.65
SD[x]
1039.38
646.88
334.38
509.38
f0.0
11.45
21.85
5.73
10.93
f0.1
200.45
327.75
100.23
163.88
f0.2
298.35
427.15
149.18
213.58
f0.3
436.70
509.85
218.35
254.93
f0.4
573.60
573.60
286.80
286.80
f0.5
755.55
645.30
322.65
377.78
f0.6
844.90
717.00
358.50
422.45
f0.7
988.90
806.65
403.33
494.45
f0.8
1106.00
917.75
458.88
553.00
f0.9
1392.80
1092.55
546.28
696.40
f1.0
3824.00
2519.45
1259.73
1912.00
a)Identify the set of efficient alternatives by applying the Mean-Variance criterion (or Mean-Standard Deviation criterion). Visualize your results by generating a graph in Excel and shortly explain your answer in the file.
b)Identify the set of efficient alternatives by applying the criteria of First and Second Degree Stochastic Dominance. Also, visualize your results by generating a graph in Excel and shortly explain your answer in the file.
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