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What will be Hale’s TV Production’s decision based on the following criteria: a. MAXIMAX b. MAXIMIN c. MINIMAX REGRET d. EXPECTED VALUE e. Construct the decision tree for this problem and indicate the decision based on the decision tree analysis. can you pls answer letter a,b,c

What will be Hale’s TV Production’s decision based on the following criteria: a. MAXIMAX b. MAXIMIN c. MINIMAX REGRET d. EXPECTED VALUE e. Construct the decision tree for this problem and indicate the decision based on the decision tree analysis. can you pls answer letter a,b,c

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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What will be Hale’s TV Production’s decision based on the following criteria:
a. MAXIMAX
b. MAXIMIN
c. MINIMAX REGRET
d. EXPECTED VALUE
e. Construct the decision tree for this problem and indicate the decision based on the decision tree analysis.

can you pls answer letter a,b,c


4. DECISION ANALYSIS Hale's TV Production is considering producing a pilot for a comedy series in the hope of selling it to a major television network. The network my decide to reject the series, but it may also decide to purchase the rights to the series of either one or two years. At this point in time, Hale may either produce the pilot and wait for the network's decision or transfer the rights for the pilot and series to a competitor for $100,000. Hale's decision alternatives and profits (in thousands of dollars) are as follows: States of Nature Decision Reject, S1 1 year, S2 2 years, S3 alternative Produce Pilot, d1 -100 50 150 Sell to competitor, 100 90 80 d2 Prior probability 0.20 0.30 0.50
Transcribed Image Text:4. DECISION ANALYSIS Hale's TV Production is considering producing a pilot for a comedy series in the hope of selling it to a major television network. The network my decide to reject the series, but it may also decide to purchase the rights to the series of either one or two years. At this point in time, Hale may either produce the pilot and wait for the network's decision or transfer the rights for the pilot and series to a competitor for $100,000. Hale's decision alternatives and profits (in thousands of dollars) are as follows: States of Nature Decision Reject, S1 1 year, S2 2 years, S3 alternative Produce Pilot, d1 -100 50 150 Sell to competitor, 100 90 80 d2 Prior probability 0.20 0.30 0.50
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