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Consider the following profit matrix 30 23 10 -3 a2 15 27 20 19 13 17 29 32 az 18 a4 31 21 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. Махітіn(Minimax) c. Savage d. Hurwitz (assume that a = 0.5)

Consider the following profit matrix 30 23 10 -3 a2 15 27 20 19 13 17 29 32 az 18 a4 31 21 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. Махітіn(Minimax) c. Savage d. Hurwitz (assume that a = 0.5)

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 profit matrix O Oz 02 0, 04 30 23 10 -3 a2 15 27 20 19 az 13 17 29 32 18 a4 31 21 13 No probabilities are known for the occurrence of the nature states. Compare the solutions obtained by each of the following criteria: а. Laplace b. Махіmin(Minimax) c. Savage d. Hurwitz (assume that a = 0.5)
Transcribed Image Text:Consider the following profit matrix O Oz 02 0, 04 30 23 10 -3 a2 15 27 20 19 az 13 17 29 32 18 a4 31 21 13 No probabilities are known for the occurrence of the nature states. Compare the solutions obtained by each of the following criteria: а. Laplace b. Махіmin(Minimax) c. Savage d. Hurwitz (assume that a = 0.5)
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