Use Graphical Sensitivity Analysis to Determine the Range of Values

question 19

Essay

Use graphical sensitivity analysis to determine the range of values of the probability of state of nature s₁ over which each of the decision alternatives has its largest expected value. $$\begin{array} { c | ccc } && { \text { State of Nature } } \\\text { Decision } & s _ { 1 } && s _ { 2 } \\\hline d _ { 1 } & 8 && 10 \\d _ { 2 } & 4 && 16 \\d _ { 3 } & 10 && 0\end{array}$$

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Definitions:

Role Perceptions

Individuals' views and understandings of their responsibilities, duties, and behaviors expected in a particular social or work setting.

Motivation

The processes that account for an individual's intensity, direction, and persistence of effort towards attaining a goal.

Moral Intensity

The degree of pressure felt to make ethical or unethical decisions, influenced by the perceived magnitude of consequences and social consensus surrounding an action.

Utilitarianism

A moral philosophy that evaluates actions based on their outcomes, specifically aiming to maximize overall happiness and minimize suffering.