Partial probabilities of events
What are some of the sources where we can obtain partial probabilities of events for a certain investment problems under the condition of uncertainty?
Please answer in at least 3 sentences but no more than 6 sentences.
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Contrast the loss due to overstocking and the loss due to understocking. In addition to simple inventory problems, to what type of decision problems can we apply these cost concepts?
Suppose that X and Y have a joint probability density function (pdf)
Salvage value and goodwill cost can be important components of an inventory problem. How do they fit into the process of determining the optimal stock quantity?
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What is the major weakness of the Hurwicz criterion? Please answer in at least 3 sentences but no more than 6 sentences.
Utility analysis is a sophisticated theoretical approach to decision-making. List a few of your personal decision problems
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