Payoff table - computing expected value

Related BrainMass Solutions

• Decision theory;difference between different payoff tables

  "A Payoff Table is a listing of all possible combinations of decision alternatives and states of nature." "The Expected Payoff table or the Expected Monetary Value (EMV) table is the table showing the expected value for each decision.

• Expected value, indifference probabilities, expected utility

  102484 Quantitative Methods of Business: Payoff table-expected value, indifference probabilities, expected utility For the payoff table below, the decision maker will use P(s1) = .15, P(s2) = .5, and P(s3) = .35.

• Payoff problem/expected value decision alternatives

  → Expected value = probability of first states of nature*expected payoff if first states of nature occurs + probability of second states of nature*expected payoff if second states of nature occurs Expected value of bet = probability of win*expected payoff

• Decision Analysis

  What is the difference between a payoff table and an expected payoff table? In the following payoff table, let P(S1) = 0.30, P(S2) = 0.50, and P(S3) = 0.20. Compute the expected monetary value for each of the alternatives.

• Payoff table

  type of decision makers using the payoff table.

• Payoff table data analysis tool explained with examples

  Based on the given information, we first create a payoff table: Demand in number of cases 5 6 7 8 produce 0.1 0.3 0.45 0.15 5 250 250 250 250 6 205 300 300 300 7 160 255 350 350 8 115 210 305 400 Expected value table

• How to calculate the expected payoff

  475641 How to Calculate the Expected Payoff Expected payoff corresponding to various levels of business expansion and economic conditions faced by Ramcast Cable Inc. is given in the table below. The probabilities of the events are also given.

• Probability: Expected Value and Decision Analysis

  233727 Probability: Expected Value and Decision Analysis Expected Value and Decision Analysis: 1- In a certain state lottery, a lottery ticket cost $8.

• Payoff Table and Financial Risks

  This solution prepares a payoff table and uses the expected-value model to determine the financial risk and if the make or buy option is best for the company. All steps are shown in an Excel file.

• Computing a Payoff Table and Finding an Optimal Decision Using Given Data

  591841 Computing a Payoff Table and Finding an Optimal Decision Using Given Data Jim has been employed at Gold Key Realty at a salary of $2,000 per month during the past year.