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1 | |
Alternatives are |
| | A) | Choices available to decision-makers |
| | B) | Uncontrollable future events |
| | C) | Profits made as a result of a decision |
| | D) | Computer-generated outcomes |
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2 | |
 <![CDATA[<a onClick="window.open('/olcweb/cgi/pluginpop.cgi?it=gif::::/sites/dl/free/0070951640/354829/c1701.gif','popWin', 'width=NaN,height=NaN,resizable,scrollbars');" href="#"><img valign="absmiddle" height="16" width="16" border="0" src="/olcweb/styles/shared/linkicons/image.gif"> (1.0K)</a>]]>
Above is the payoff table for a set of alternatives and states of nature. What is the EMV of A1? |
| | A) | 53 |
| | B) | 55 |
| | C) | 58 |
| | D) | 31 |
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3 | |
<![CDATA[<a onClick="window.open('/olcweb/cgi/pluginpop.cgi?it=gif::::/sites/dl/free/0070951640/354829/c1701.gif','popWin', 'width=NaN,height=NaN,resizable,scrollbars');" href="#"><img valign="absmiddle" height="16" width="16" border="0" src="/olcweb/styles/shared/linkicons/image.gif"> (1.0K)</a>]]>
Above is the payoff table for a set of alternatives and states of nature. What is the EOL of A2? |
| | A) | 31 |
| | B) | 29 |
| | C) | 26 |
| | D) | 55 |
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4 | |
<![CDATA[<a onClick="window.open('/olcweb/cgi/pluginpop.cgi?it=gif::::/sites/dl/free/0070951640/354829/c1701.gif','popWin', 'width=NaN,height=NaN,resizable,scrollbars');" href="#"><img valign="absmiddle" height="16" width="16" border="0" src="/olcweb/styles/shared/linkicons/image.gif"> (1.0K)</a>]]>
Above is the payoff table for a set of alternatives and states of nature. What is the EVPI? |
| | A) | 26 |
| | B) | 53 |
| | C) | 58 |
| | D) | 84 |
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5 | |
<![CDATA[<a onClick="window.open('/olcweb/cgi/pluginpop.cgi?it=gif::::/sites/dl/free/0070951640/354829/c1701.gif','popWin', 'width=NaN,height=NaN,resizable,scrollbars');" href="#"><img valign="absmiddle" height="16" width="16" border="0" src="/olcweb/styles/shared/linkicons/image.gif"> (1.0K)</a>]]>
Above is the payoff table for a set of alternatives and states of nature. What is the EMV of A1? |
| | A) | 570 |
| | B) | 650 |
| | C) | 180 |
| | D) | 100 |
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6 | |
<![CDATA[<a onClick="window.open('/olcweb/cgi/pluginpop.cgi?it=gif::::/sites/dl/free/0070951640/354829/c1701.gif','popWin', 'width=NaN,height=NaN,resizable,scrollbars');" href="#"><img valign="absmiddle" height="16" width="16" border="0" src="/olcweb/styles/shared/linkicons/image.gif"> (1.0K)</a>]]>
Above is the payoff table for a set of alternatives and states of nature. What is the EOL of A2? |
| | A) | 180 |
| | B) | 100 |
| | C) | 650 |
| | D) | 750 |
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7 | |
<![CDATA[<a onClick="window.open('/olcweb/cgi/pluginpop.cgi?it=gif::::/sites/dl/free/0070951640/354829/c1701.gif','popWin', 'width=NaN,height=NaN,resizable,scrollbars');" href="#"><img valign="absmiddle" height="16" width="16" border="0" src="/olcweb/styles/shared/linkicons/image.gif"> (1.0K)</a>]]>
Above is the payoff table for a set of alternatives and states of nature. What is the EVPI? |
| | A) | 100 |
| | B) | 750 |
| | C) | 570 |
| | D) | 650 |
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8 | |
The alternative which offers the lowest EOL is the same as the one which |
| | A) | Offers the highest expected payoff |
| | B) | Maximizes the minimum gain |
| | C) | Minimizes the maximum loss |
| | D) | Maximizes the maximum gain |
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