Please select a subject first
Advertisements
Advertisements
A farmer wants to decide which of the three crops he should plant on his 100-acre farm. The profit from each is dependent on the rainfall during the growing season. The farmer has categorized the amount of rainfall as high medium and low. His estimated profit for each is shown in the table.
| Rainfall | Estimated Conditional Profit (Rs.) | ||
| Crop A | Crop B | Crop C | |
| High | 8000 | 3500 | 5000 |
| Medium | 4500 | 4500 | 5000 |
| Low | 2000 | 5000 | 4000 |
If the farmer wishes to plant only crop, decide which should be his best crop using (i) Maximin (ii) Minimax
Concept: undefined >> undefined
The research department of Hindustan Ltd. has recommended to pay marketing department to launch a shampoo of three different types. The marketing types of shampoo to be launched under the following estimated pay-off s for various level of sales.
| Types of shampoo | Estimated Sales (in Units) | ||
| 15000 | 10000 | 5000 | |
| Egg shampoo | 30 | 10 | 10 |
| Clinic shampoo | 40 | 15 | 5 |
| Deluxe shampoo | 55 | 20 | 3 |
What will be the marketing manager’s decision if (i) Maximin and (ii) Minimax principle applied?
Concept: undefined >> undefined
Advertisements
Following pay-off matrix, which is the optimal decision under of the following rule (i) maximin (ii) minimax
| Act | States of nature | |||
| S1 | S2 | S3 | S4 | |
| A1 | 14 | 9 | 10 | 5 |
| A2 | 11 | 10 | 8 | 7 |
| A3 | 9 | 10 | 10 | 11 |
| A4 | 8 | 10 | 11 | 13 |
Concept: undefined >> undefined
Choose the correct alternative:
Decision theory is concerned with
Concept: undefined >> undefined
Choose the correct alternative:
A type of decision–making environment is
Concept: undefined >> undefined
A person wants to invest in one of three alternative investment plans: Stock, Bonds and Debentures. It is assumed that the person wishes to invest all of the funds in a plan. The pay-off matrix based on three potential economic conditions is given in the following table:
| Alternative | Economic conditions | ||
| High growth (Rs.) | Normal growth (Rs.) | Slow growth (Rs.) | |
| Stocks | 10 | 7000 | 3000 |
| Bonds | 8000 | 6000 | 1000 |
| Debentures | 6000 | 6000 | 6000 |
Determine the best investment plan using each of following criteria i) Maxmin ii) Minimax
Concept: undefined >> undefined
Differentiate between the money market and the capital market.
Concept: undefined >> undefined
Which is the primary function of management?
Concept: undefined >> undefined
Which of the following is not a main function?
Concept: undefined >> undefined
_______ is included in every managerial function.
Concept: undefined >> undefined
Which of the following is verification function?
Concept: undefined >> undefined
Write a short note about Planning.
Concept: undefined >> undefined
What is meant by Motivation?
Concept: undefined >> undefined
What is meant by Controlling?
Concept: undefined >> undefined
What is the Traditional proverb used in planning?
Concept: undefined >> undefined
List out the main functions of management?
Concept: undefined >> undefined
State the importance of staffing.
Concept: undefined >> undefined
What is meant by Co-ordination?
Concept: undefined >> undefined
How the employees are informed about important matters in a company?
Concept: undefined >> undefined
Explain the various functions of management.
Concept: undefined >> undefined
