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j.Ames(MAT540)

Date Posted: 12/07/2014
Category: Mathematics
Due Date: 12/07/2014
Instruction
j.Ames(MAT540)
Answer each question using the question as the heading.
1. In your own words, explain how to obtain the expected value of perfect information for any payoff table, which has probabilities associated with each state of nature. Then, provide an example, drawing from any of the payoff tables in Problems 1-17 in the back of Chapter 12. If no probabilities are given for the states of nature, then assume equal likelihood.

2. Select one (1) of the following topics for your primary discussion posting:

Identify the part of setting up a simulation in Excel that you find to be the most challenging, and explain why. Identify resources that can help you with that.
Explain how simulation is used in the real world. Provide a specific example from your own line of work, or a line of work that you find particularly interesting.

3.Select one (1) of the following topics for your primary discussion posting:

Identify any challenges you have in setting up a time-series analysis in Excel. Explain what they are and why they are challenging. Identify resources that can help you with that.
Explain how forecasting is used in the real world. Provide a specific example from your own line of work, or a line of work that you find particularly interesting.
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