Project #9310 - Decision Tree

Use the following decision table to complete parts (a) through (c).

 

                                 State of Nature

 

                        s1 (.40) s2 (.35) s3 (.25)

 

Decision Alternative

 

                                          d1 150 250 500

                                          d2 100 200 400

                                          d3 75 150 700

                                           d4 125 450 650

(Please see attachment for state of nature table)

a. Draw a decision tree to represent this payoff table.

b. Compute the expected monetary values for each decision and label the decision tree to indicate what the final decision would be.

c. Compute the expected payoff of perfect information. Compare this answer to the answer determined in part (b) and compute the value of perfect information.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Subject Mathematics
Due By (Pacific Time) 7/20/2013
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