Question

alternative	gold market	average market	bad market
large shop	125,000	70,000	-80,000
medium shop	100,000	50,000	-60,000
small shop	75,000	30,000	-40,000
probability	0.3	0.5	0.2

Question 4

a) use the three different technique to assess the three alternatives to rashid
b) if rashid can buy an information about the market, use EVPI value to guide him
c) develop the opportunity loss table for this situation. What decisions would be made using the minimax regret criterion and the minimum EOL criterion

Answer 1