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FAU QBM 360 - Quiz 3

29/03/2020 Client: rawan Deadline: 24 Hours

Review Test Submission: Quiz3


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Course QMBLC Summer14

Test Quiz3







• Question 1



 A payoff table is given below and the probabilities of s1, s2, and s3 are .2, .5, and .3, respectively, then what is the most you pay for a highly reliable forecast?

 s1 s2 s3

d1 250 750 500

d2 300 -250 1200

d3 500 500 600





• Question 2



 Expected value is the sum of the weighted payoff possibilities at a circular node in a decision tree.



• Question 3


 

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