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Purchased DVR Purchased Plasma Screen...




Purchased DVR Purchased Plasma Screen Yes No Total Plasma Screen 38 42 80 Not Plasma Screen 70 150 220 Total 108 192 300 Q-1a: What is the probability that a randomly selected big-screen television purchase in this sample is a purchase of a plasma-screen television? Q-1b: What is the probability that a randomly selected household that purchased a big screen television purchased a plasma-screen AND a DVR? Q-1c: What is the probability that a randomly selected household purchased a DVR, given that the household purchased a plasma-screen television? Payoff Table Good Economic Poor Economic Conditions Conditions Decision (Purchase) 60% 40% Apartment building $50,000 $30,000 Office building 100,000 -40,000 Warehouse 30,000 10,000 An investor is to purchase one of three types of real estate. The investor must decide among an apartment building, an office building, and a warehouse. The future states of nature that will determine how much profit the investor will make are good economic conditions and poor economic conditions. The profits that will result from each decision in the event of each state of nature are shown at left. Q-2a: Which investment has the highest EMV? Q-2b: What is the expected value of perfect information in this problem ?,i also send an attachment in excel


Paper#13218 | Written in 18-Jul-2015

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