Homework answers / question archive / 1)How is a decision made using the optimistic approach?   How is a decision made using the conservative approach?   How is a decision made using the regret approach?   4 The opportunity loss is another name for what decision making approach?   What is the regret for (d2, s1)?     What is the regret for (d3, s2)?           What is the regret for (d2, s2)?           What is the regret for the best decision?           Check all of the following decision making approaches that try to minimize risk

1)How is a decision made using the optimistic approach?   How is a decision made using the conservative approach?   How is a decision made using the regret approach?   4 The opportunity loss is another name for what decision making approach?   What is the regret for (d2, s1)?     What is the regret for (d3, s2)?           What is the regret for (d2, s2)?           What is the regret for the best decision?           Check all of the following decision making approaches that try to minimize risk

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1)How is a decision made using the optimistic approach?

 

2. How is a decision made using the conservative approach?

 

3. How is a decision made using the regret approach?

 

4 The opportunity loss is another name for what decision making approach?

 

5. What is the regret for (d2, s1)?

 

 

6. What is the regret for (d3, s2)?

   

 

 

 

7. What is the regret for (d2, s2)?

   

 

 

 

8. What is the regret for the best decision?

   

 

 

 

9. Check all of the following decision making approaches that try to minimize risk.

 

10. Check all of the following decision making approaches that use potential profit (the profit that could have been made but was actually not made).

 

 

11. What is does EVwPI mean?

 

12. What is does EVPI mean?

 

13. How is the EVPI found?

 

14. How is the Best EMV found?

 

15. Which of the following are true when using the EOL approach to making a decision?

 

16. The value of the minimum EOL is equal the value of which of the following?