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No probabilities are known for the occurrence of the nature states. Compare the solutions obtained by each of the following criteria: a. Laplace b. Мaximin(Miniтах) c. Savage d. Hurwitz (assume that a = 0.3)

No probabilities are known for the occurrence of the nature states. Compare the solutions obtained by each of the following criteria: a. Laplace b. Мaximin(Miniтах) c. Savage d. Hurwitz (assume that a = 0.3)

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
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Consider the following loss matrix 6. 9. 15 20 a2 7 10 6. 14 18 12 11 19 az 31 a4 21 22 13 No probabilities are known for the occurrence of the nature states. Compare the solutions obtained by each of the following criteria: a. Laplace b. Махітin(Minimах) c. Savage d. Hurwitz (assume that a = 0.3)
Transcribed Image Text:Consider the following loss matrix 6. 9. 15 20 a2 7 10 6. 14 18 12 11 19 az 31 a4 21 22 13 No probabilities are known for the occurrence of the nature states. Compare the solutions obtained by each of the following criteria: a. Laplace b. Махітin(Minimах) c. Savage d. Hurwitz (assume that a = 0.3)
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