What is the probability value for strong demand that equates the expected values of the two decision
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Question:
What is the probability value for strong demand that equates the expected values of the two decision alternatives? Round answer to the nearest thousandth (0.001).
s1 | s2 | |
d1 | 200 | 400 |
d2 | 500 | 300 |
P(F) = 0.62
P(U) = 0.38
P(s1|F) = 0.64
P(s2|F) = 0.36
P(s1|U) = 0.14
P(s2|U) = 0.86
P(s1) = 0.44
P(s2) = 0.56
2.
Strong | Weak | |
Full price | $840 | -$360 |
Discount | $620 | $280 |
Related Book For
Data Analysis and Decision Making
ISBN: 978-0538476126
4th edition
Authors: Christian Albright, Wayne Winston, Christopher Zappe
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