The probabilities
cybacatx (Not rated)
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Clay Why bark, a soft-drink vendor at Hard Rock Cafe's annual Rockiest, created a table of conditional values for the various alternatives (stocking decision) and states of nature (size of crowd):
a) Determine the alternative that provides Clay Why bark the greatest expected monetary value (HMV).The probabilities associated with the states of nature are 0.3 for a
big demand, 0.5 for an average demand, and 0.2 for a small demand.
b) Compute the expected value of perfect information
- 8 years ago
Hard Rock Cafe's annual Rockiest
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- hard_rock_cafe.doc