The product manager of a tide and he is planning to launch a new product. He can either launch Tide with Zonrox, Tide with Downy, or not do anything at all. If he will launch Tide with Zonrox, the company will gain P20,000 if the market is successful or lose P18,000 if the market is a failure. If he will launch Tide with Downy, the company will gain P12,000 if the market is successful or lose P3,000 if the market is a failure. If he does not launch anything, the company will not gain anything whether the market is successful or a failure. The probability is 60% that the market is successful and 40% that the market is a failure. Probability Maximum Opportunity Loss Minimum Perfect Probability Expected Monetary Value (EMV) Expected Value of Perfection (EVPI) Maximax Maximin EMV Minimax
The product manager of a tide and he is planning to launch a new product. He can either launch Tide with Zonrox, Tide with Downy, or not do anything at all. If he will launch Tide with Zonrox, the company will gain P20,000 if the market is successful or lose P18,000 if the market is a failure. If he will launch Tide with Downy, the company will gain P12,000 if the market is successful or lose P3,000 if the market is a failure. If he does not launch anything, the company will not gain anything whether the market is successful or a failure. The probability is 60% that the market is successful and 40% that the market is a failure. Probability Maximum Opportunity Loss Minimum Perfect Probability Expected Monetary Value (EMV) Expected Value of Perfection (EVPI) Maximax Maximin EMV Minimax
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter9: Decision Making Under Uncertainty
Section9.4: The Precision Tree Add-in
Problem 9P
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Hi can u just fill out all below image questions answer explanation??? Please just fill it I dont understand what to put there
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Step 1: State the given information.
VIEWStep 2: a. Decision Analysis using Maximax Criterion.
VIEWStep 3: b. Decision Analysis using Maximin Criterion.
VIEWStep 4: c. Decision Analysis using Minimax Criterion.
VIEWStep 5: d. Decision Analysis using EMV Criterion.
VIEWStep 6: Calculate Perfect probability, EMV, and EVPI.
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