ABC desires to minimize cost
Question # 00554926
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Updated on: 07/01/2017 12:20 AM Due on: 07/01/2017
Draw an influence diagram of the following decision problem:
ABC desires to minimize cost.The mutually exclusive and collective exhaustive decision alternatives for Tree are maple and oak.Fixed is uniformly distributed with a low of $1M and high of $2M. Fixed will be known before choosing Tree. If alternative for Tree is maple, then Variable has the following probability distribution:
p($1.25 per unit) = 0.3 and p($2.00 per unit) = 0.7.
If alternative forTree is oak, thenVariable is normally distributed with a mean of $1.50 per unit and standard deviation of $1.00 per unit.
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Solution: ABC desires to minimize cost