1. Consider the decision table given below. Find which Profits decision will be taken, as a function of c (a real number) according to a. Wald's criterion, Laplace's criterion, and Hurwicz's criterion (take a-0.6). NI N2 N3 23 N4 SI C 3 4 6 S2 2 2 2 4 $3 3 b. Find the range(s) of c for which all three methods S4 6 120 1 9 6 1 3 uniquely lead to same alternative.
1. Consider the decision table given below. Find which Profits decision will be taken, as a function of c (a real number) according to a. Wald's criterion, Laplace's criterion, and Hurwicz's criterion (take a-0.6). NI N2 N3 23 N4 SI C 3 4 6 S2 2 2 2 4 $3 3 b. Find the range(s) of c for which all three methods S4 6 120 1 9 6 1 3 uniquely lead to same alternative.
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.4: Multiple Regression Models
Problem 12P
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Transcribed Image Text:1. Consider the decision table given below. Find which Profits
NI
N2
N3
N4
decision will be taken, as a function of c (a real number)
according to
a. Wald's criterion, Laplace's criterion, and
Hurwicz's criterion (take a-0.6).
b. Find the range(s) of c for which all three methods
uniquely lead to same alternative.
SI
3.
4
6.
S2
2
4
S3
6.
S4
6.
6
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