Mat 540 quiz 2 | Mathematics homework help

Don't use plagiarized sources. Get Your Assignment on
Mat 540 quiz 2 | Mathematics homework help
Just from $13/Page
Order Now

Week 3 Quiz 2:

 

 

1. The coefficient of optimism is a measure of the decision maker’s optimism. TRUE/ FALSE

 

2. A payoff table is a means of organizing a decision situation, including the payoffs from different decisions given the various states of nature. TRUE/ FALSE

 

3. The maximin criterion results in the maximum of the minimum payoffs. TRUE/ FALSE

 

4. A state of nature is an actual event that may occur in the future. TRUE/ FALSE

 

5. The ______________ minimizes the maximum regret.

 

maximax regret criterion

minimax regret criterion

minimin regret criterion

maximin regret criterion

 

 

6. The maximin criterion results in the

 minimum of the maximum payoffs

 maximum of the maximum payoffs

 maximum of the minimum payoffs

 minimum of the minimum payoffs

 

7. A dominant decision is one that has better payoff than another decision under each state of nature. TRUE/ FALSE

 

8. The maximin approach to decision making refers to

minimizing the maximum return

maximizing the minimum return

maximizing the maximum return

minimizing the minimum return

 

9. The maximax criterion results in the maximum of the minimum payoffs. TRUE/ FALSE

 

10. Determining the worst payoff for each alternative and choosing the alternative with the best worst is called

maximin

minimin

maximax

minimax

 

11. The Hurwicz criterion is a compromise

for the maximin criterion

for the maximax criterion

between the maximax and maximin criteria

none of the above

 

12. The maximax criterion results in the

 maximum of the minimum payoffs

maximum of the maximum payoffs

 minimum of the maximum payoffs

 minimum of the minimum payoffs

 

13. Regret is the difference between the payoff from the best decision and all other decision payoffs.  TRUE/ FALSE

 

14. Regret is the difference between the payoff from the

best decision and all other decision payoffs

worst decision and all other decision payoffs

best decision and the worst decision payoffs

none of the above

 

15. The minimax regret criterion

 maximizes the minimum regret

 minimizes the minimum regret

 minimizes the maximum regret

 maximizes the maximum regret

 

16. The Hurwicz criterion is a compromise between the maximax and maximin criteria.

TRUE/ FALSE

 

17. The term opportunity loss is most closely related to

maximin regret

maximax regret

minimax regret

minimin regret

 

18. The equal likelihood criterion multiplies the decision payoff for each state of nature by an equal weight.   TRUE/ FALSE

 

 

19. The basic decision environment categories are

certainty

risk

uncertainty

all of the above

 

20. Expected opportunity loss is the expected value of the regret for each decision.

 

TRUE/ FALSE

Calculate your paper price
Pages (550 words)
Approximate price: -

Why Choose Us

Quality Papers

At Myhomeworkwriters.com, we always aim at 100% customer satisfaction. As such, we never compromise o the quality of our homework services. Our homework helpers ensure that they craft each paper carefully to match the requirements of the instruction form.

Professional Academic Writers

With Myhomeworkwriters.com, every student is guaranteed high-quality, professionally written papers. We ensure that we hire individuals with high academic qualifications who can maintain our quality policy. These writers undergo further training to sharpen their writing skills, making them more competent in writing academic papers.

Affordable Prices

Our company maintains a fair pricing system for all academic writing services to ensure affordability. Our pricing system generates quotations based on the properties of individual papers.

On-Time delivery

My Homework Writers guarantees all students of swift delivery of papers. We understand that time is an essential factor in the academic world. Therefore, we ensure that we deliver the paper on or before the agreed date to give students ample time for reviewing.

100% Originality

Myhomeworkwriters.com maintains a zero-plagiarism policy in all papers. As such, My Homework Writers professional academic writers ensure that they use the students’ instructions to deliver plagiarism-free papers. We are very keen on avoiding any chance of similarities with previous papers.

Customer Support 24/7

Our customer support works around the clock to provide students with assistance or guidance at any time of the day. Students can always communicate with us through our live chat system or our email and receive instant responses. Feel free to contact us via the Chat window or support email: support@myhomeworkwriters.com.

Try it now!

Calculate the price of your order

You will get a personal manager and a discount.
We'll send you the first draft for approval by at
Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Homework Writing Services

My Homework Writers holds a reputation for being a platform that provides high-quality homework writing services. All you need to do is provide us with all the necessary requirements of the paper and wait for quality results.

Essays

Essay Writing Services

At My Homework Writers, we have highly qualified academic gurus who will offer great assistance towards completing your essays. Our homework writing service providers are well-versed with all the aspects of developing high-quality and relevant essays.

Admissions

Admission and Business Papers

With Myhomeworkwriters.com, we will help you secure a position at your desired institution. Our essay writing services include the crafting of admissions papers. We will still help you climb your career ladder by helping you write the official papers that will help you secure a job. We will guide you on how to write an outstanding portfolio or resume.

Editing

Editing and Proofreading

Myhomeworkwriters.com has a professional editorial team that will help you organize your paper, paraphrase it, and eliminate any possible mistakes. Also, we will help you check on plagiarism to ensure that your final paper posses quality and originality.

Coursework

Technical papers

My Homework Writers harbors professional academic writers from diverse academic disciplines. As such, we can develop homework writing services in all academic areas. The simplicity or complexity of the paper does not affect the quality of homework writing services.