Answer:
If she uses the Laplace criterion, the number of new examiners she will decide to hire is:
c. three
Step-by-step explanation:
a) Data:
Number of Compliance
examiners Low Normal High
One 50 50 50
Two 100 60 20
Three 150 70 -10
b) Outcome Calculations:
Number of Compliance
examiners Low Normal High
One 16.65 (50 *.333) 16.65 (50 *.333) 16.65 (50 *.333) = 50
Two 33.3 (100 *.333) 19.98 (60 *.333) 6.66 (20 *.333) = 60
Three 49.95 (150 *.333) 23.31 (70 *.333) -3.33 (-10 *.333) = 70
c) Decision:
Three has the highest payoff condition and is selected.
d) The Laplace criterion assumes that each compliance state is equally likely to happen. Therefore, it assigns the same weight to each state of compliance. Since there are three states of compliance, we shall assign each state a weight of 0.333. The number of examiners that have the highest payoff condition is three, and therefore, the number "three" is selected.
2.43 + 1.62 + 124.77 = 178.82 Because all you have to do is add up all the numbers (Don't take the decimals out, leave them in) And then you get: 178.82.
Hope I helped!
- Amber
Answer:
third option both cost the same after 2 months
