Decision Analysis (Single Stage Decision Problems AND Multistage Decision Problems)

March 3, 2024 Discipline: Analytics

I don’t need excel solving

I need handwriting answer with formula and short explanation

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question7 :

a. Draw the Payoff Table and the Opportunity Loss tables.

b. Find the optimal action according to Maximax, Maximin, and Maximum Likelihood.

c. Find the EMV of each action.

d. Find EVPI. Find EVPI.

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question9:

Draw the decision tree with probabilities and payoffs.

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