naveed ap nai jo pehla solution send kiya tha wo theek tha ya ye theek hai?--
On Thu, Dec 29, 2011 at 8:07 PM, Muhammad Naveed <muhammadnaveed128@gmail.com> wrote:
MGT613 Assignment no.2 Solution Fall 2011
Alternatives
Possible Future Demands
Low (125 dozen)
Medium (800 dozen)
High (1750 Dozen)
Order 125 dozen
Rs. 15,625
Rs. 15,625
Rs. 15,625
Order 800 dozen
100,000
640,000
1,420,000
Order 1750 dozen
218,750
1400,000
3,062,500
Using the maximin in the given payoff table you have to choose the alternative with the best of the worst possible payoffs.
Using maximin, the worst payoffs for the alternative are:
Order 125 dozen Rs.15,625
Order 800 dozen 100,000
Order 1750 dozen 218,750
Hence , since Rs.218,750 is the best, choose to order eggs using the maximin strategy
Using the maximax you have to choose the alternative with the best possible payoff.
Using maximax the best payoffs are:
Order 125 dozen Rs.15,625
Order 800 dozen 1,420,000
Order 1750 dozen 3,062,500
The best overall payoff is Rs.3,062,500. Hence, maximax criterion leads to order eggs
Row total (in Rupees) Row average (in Rupees)
Order 125 dozen Rs.46,875 Rs.15,625
Order 800 dozen 2,160,000 720,000
Order 1750 dozen 4,681,250 1,560,416.66
Because the small facility has the highest average, it would be chosen under laplace criterion.
Using minimax regret you are supposed to choose the alternatives that has the least of the worst regrets. This is calculated by the difference between a given payoff and best payoff for a state of nature.
The calculation is shown in the following table.
Alternatives
Regrets (in Rupees)
Possible Future Demands Worst
Low
Moderate
High
Order 125 dozen
Rs. 203,125
Rs. 1,384,375
Rs. 3,046,875
Order 800 dozen
118,750
760,000
1,642,500
Order 1750 dozen
0
0
0
--On Thu, Dec 29, 2011 at 12:15 AM, sana <mc100203764@vu.edu.pk> wrote:
is table ke smj nhe ai ha. help me plez. from where and how these values calculated....--
Alternatives
Regrets (in Rupees)
Possible Future Demands Worst
Low
Moderate
High
Order 125 dozen
Rs. 203,125
Rs. 1,384,375
Rs. 3,046,875
Order 800 dozen
118,750
760,000
1,642,500
Order 1750 dozen
0
0
0
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MBA 4th semester( 0314-3161784 )
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