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Use the graphical sensitivity analysis to determine the range of values of the probability of state of nature s1 over which each of the decision alternatives has its largest expected value. Explain decisions you would make and in which range.

State of Nature
Decision
s1
s2
d1
8
10
d2
4
16
d3
10
0
16
12
8
4
16
12
8
4
p = 0 p = 1
d2
d1
d3
.6 .8333

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Solution Summary

Use the graphical sensitivity analysis to determine the range of values of the probability of state of nature s1 over which each of the decision alternatives has its largest expected value. Explain decisions you would make and in which range.

State of Nature
Decision
s1
s2
d1
8
10
d2
4
16
d3
10
0
16
12
8
4
16
12
8
4
p = 0 p = 1
d2
d1
d3
.6 .8333

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