A Decision Maker Has Prepared the Following Decision Tree

question 64

Essay

A decision maker has prepared the following decision tree.There are two main decision alternatives (A and B).The probabilities for the states of nature are as follows: P(H)= .3,P(M)= .5,P(L)= .2,P(S)= .25,P(P)= .75.Calculate the highest expected profit for the decision maker and determine which of the two alternatives he/she should select.

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Definitions:

Input Module

A component of a PLC or control system responsible for receiving and processing signals from external devices or sensors.

Cross-Reference Function

A feature in software or documentation that allows users to follow references to other parts of the document or dataset.

Transition History

A record of the sequence of states or conditions an application or system has passed through over time.