Refer to the Following Breakdown of Responses to a Survey

question 112

Essay

Refer to the following breakdown of responses to a survey of room cleanliness in a hotel. Draw a pie chart that illustrates the relative frequencies.

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Definitions:

State of Nature

In decision making and statistics, the actual but unknown condition affecting outcomes or probabilities.

Monetary Values

The value of an object, service, or resource expressed in terms of money or currency.

Opportunity Loss Table

A table used in decision analysis that quantifies the difference between the payoff from the best action and all other actions for each state of nature.

Payoff Table

A decision-making tool used in statistics and business to show the expected outcomes of different decisions under various states of nature.