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Decision Support Tools Applications

   

Added on  2020-03-23

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DECISION SUPPORT TOOLSAssessment - 3[Pick the date]Student id and name
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Question 1 (a)(b) (1) Optimist will select share market which is apparent from the below highlighted table:(2) Pessimist will select bonds which are apparent from the below highlighted table:(3) By taking the effect of criteria of regret the selected investment would be Real Estate whichare apparent from the below highlighted table (Mittra, 2006).
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(4) Computation of expected monetary values for investment options is highlighted below:Highest expected monetary value is for “Bonds” hence, this is the best option for investment. (5) Expected value of perfect information Question 2 (a)Profit computation for each shop
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It is apparent that large shop would result prominent profit and therefore, Jerry should open alarge bicycle shop. (b)Table to represent prior probability revisionThe prior probability revision for favourable case
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