Decision Theory
Question
The Book Title is Quantitative Analysis for Management ( 12th Edition ) by Barry Render. I Will upload the question that i need you to solve for me in word file some picture have more than question so I will write here the question that i need only. 3-18, 3-19, 3-20, 3-21, 3-28, 4-9 and 4-13 a and b only, When you answer these question I need it to be with details. Please note that i'm an international student (man) who study in the USA.
Solution
Title:
Decision Theory
Length:
2 pages
(550 Words)
Style:
N/A
Preview
Decision Theory
Q. 3.18
Given his pessimistic attitude towards the oil industry, Bob will utilize the Maximin decision criterion. He will therefore choose the alternative that will maximize the minimum returns/gains (minimize the maximum loss).
| Decision alternative | Favorable market | Unfavorable market | returns |
| Sub 100 | 300,000 | -200,000 | 100,000 |
| Oiler j | 250,000 | -100,000 | 150,000 |
| Texan | 75000 | 18,000 | 57000 |
In this case he will choose the Texan because it maximizes the minimum returns at $57000 (minimizes maximum loss).
* Once your purchase is processed by paypal you will be redirected back to this page and you'll have the option to download the paper. We'll also send the paper to your paypal email address as proof of purchase.Download Paper
Related Essays
