P(81) = 0.54 P(s1 | F) = 0.72 0 With Sample Information $ Without Sample Information. P(F) = 0.75 P(81 | U) = 0.16 d₂ $₁ | F $₂|F S₁ | F $₂|F $₁ | U S₂U S₁U S₂ U S₁ S₁ $3,800 -$500 $2 $4,500 -$1,200 $3,800 -$500 $4,500 -$1,200 S $500 $3,800 $4,500 -$1,200 a) What is the expected value of the optimal decision without sample information? $ Enter an integer or decimal number [more..] b) If sample information is favourable (F), what is the expected value of the optimal decision? c) If sample information is unfavourable (U), what is the expected value of the optimal decision?
P(81) = 0.54 P(s1 | F) = 0.72 0 With Sample Information $ Without Sample Information. P(F) = 0.75 P(81 | U) = 0.16 d₂ $₁ | F $₂|F S₁ | F $₂|F $₁ | U S₂U S₁U S₂ U S₁ S₁ $3,800 -$500 $2 $4,500 -$1,200 $3,800 -$500 $4,500 -$1,200 S $500 $3,800 $4,500 -$1,200 a) What is the expected value of the optimal decision without sample information? $ Enter an integer or decimal number [more..] b) If sample information is favourable (F), what is the expected value of the optimal decision? c) If sample information is unfavourable (U), what is the expected value of the optimal decision?
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter4: Polynomial And Rational Functions
Section4.6: Rational Functions
Problem 87E
Related questions
Question
![P(81) = 0.54
P($1 | F) = 0.72
With
Sample
Information
$
Without Sample
Information
P(F) = 0.75
P($1 | U) = 0.16
d₂
S₁ F
$₂|F
S₁ | F
$₂F
S₁ | U
$₂|U
S₁ U
S₂ | U
$₁
S₂
$₁
52
$3,800
-$500
$4,500
-$1,200
$3,800
-$500
$4,500
-$1,200
$3,800
-$500
$4,500
-$1,200
a) What is the expected value of the optimal decision without sample information?
$
Enter an integer or decimal number [more..]
b) If sample information is favourable (F), what is the expected value of the optimal
decision?
c) If sample information is unfavourable (U), what is the expected value of the optimal
decision?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F017c4ee4-20ea-4bbf-83b1-62205b4ee271%2F40ffc39a-8294-4bd9-8265-222892cb854b%2F1x28u38_processed.jpeg&w=3840&q=75)
Transcribed Image Text:P(81) = 0.54
P($1 | F) = 0.72
With
Sample
Information
$
Without Sample
Information
P(F) = 0.75
P($1 | U) = 0.16
d₂
S₁ F
$₂|F
S₁ | F
$₂F
S₁ | U
$₂|U
S₁ U
S₂ | U
$₁
S₂
$₁
52
$3,800
-$500
$4,500
-$1,200
$3,800
-$500
$4,500
-$1,200
$3,800
-$500
$4,500
-$1,200
a) What is the expected value of the optimal decision without sample information?
$
Enter an integer or decimal number [more..]
b) If sample information is favourable (F), what is the expected value of the optimal
decision?
c) If sample information is unfavourable (U), what is the expected value of the optimal
decision?
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