Posted: December 5th, 2015
b) The worst regrets for alternative Medium Facility is Blank 2
c) The worst regrets for alternative Large Facility is Blank 3
d) The best course of action or decision by using Minimax Regret is to select Blank 4
Given is a Decision Tree Diagram. The Payoffs 1-14 are given in the table below. Answer questions a, b, and c.
b) The value at node 8 is (in 1 decimal place)
c) The best course of action or decision is to select alternative
a) The Project Completion time = Blank 1
b) The Earliest Start time, ES, of Activity G = Blank 2days.
c) The Latest Finish time, LF, of Acitivity C = Blank 3days..
d) The critical activities are = Blank 4(ex. Fill in answer as: ABCD)
|Location||Fixed Cost/yr||variable cost/unit|
b) The range of output for location alternative 2 that would yield the lowest total cost is Blank 2(Ex. In whole number, use Q, <, <=, >, >= to specify the range)
c) The range of output for location alternative 3 that would yield the lowest total cost is Blank 3(Ex. In whole number, use Q, <,<=, >, >= to specify the rangTS
|Day||Lobster Sold/day||Price ($/lb.)|
b) r is the coeefficient of correlation. Use the r equation to compute the value of the denominator part of the equation. The value for the r denominator = Blank 2(in 4 decimal places)
c) According to this problem, the correlation of coefficient, r, between the two most pertinent variables is = Blank 3(in 4 decimal places).
d) According to the instructor’s lecture, the correlation strength between any two variables can be described as strong, weak, or no The correlation strength for this problem can be described as Blank 4correlation.
e) According to the instructor’s lecture, the correlation direction between any two variables can be described as direct or indirect relationship. The correlation direction for this problem can be described as Blank 5relationship.
f) Regardless, you were told to use the Associative Forecasting method to predict the expected lobster sale. If the lobster price = $8.58, the expected #s of lobster sold = Blank 6(round to the next whole #).
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