In decision making, for each combination of decision alternative and state of nature, a ____________ value is calculated?

X is 18, Y is 30. What is the simple index number of X compared to Y?

The payoff values for decision alternatives : there are 5 states of nature and the cost values for the first decision alternative are 0.8, 0.9, 0.2, 0.7, 0.6. The decision maker is pessimistic. Which payoff value is taken from the first decision alternative?

The payoff values for decision alternatives : there are 5 states of nature and maximum payoff values for 5 decision alternatives are I) 0.15, II) 0.11, III) 0.72, IV) 0.27, V) 0.34. The decision maker is pessimistic. Which decision alternative is choosen?

For a company, 3 different states of nature are given as S1, S2 and S3 with possibilities 0.4, 0.5 and 0.1 respectively. The alternative actions on the other hand are given as A1, A2, and A3. What will be the best action provides the highest expected payoff and what will be the expected payoff given that action is taken; if the payoff matrix is given as:

Which index indicates the change in the price of a single item between two consecutive periods?

What is the largest value for Pearson's correlation coefficient?

In a binomial test problem, n = 6 and x = 2, what is the value of  in this problem?

If Pearson’s correlation coefficient is equal to ___ , it means that the data points in the scatterplot will lie on a ____ straight line.

Which two words given below completes the sentence best?

The manager of a company has looked at the monthly average sales of a product for the last ten years and created the table below :

Choosing January as a base; what is the the simple index number for April?

Total price for products group A is 10 and 12 units for months X and Y, respectively. What is the simple aggregate price index for A for month X when month Y is the base?

In regression analysis, which symbol is used to denote the independent variable?

When are the weighted index numbers used?

What is constructed from changes in a number of different items and reflects the average change in the actvity of a group of items from the base period to the period under consideration?

If the assumptions of certain tests can not be satisfied what do we need to use for testing?

In a sign test the median is 17 and here are the observations in the sample: 5, 6, 3, 6, 9, 7, 8, 9, 6, 15, 18, 19, 20, 24 What is the n- value for the sign test?

In poin estimation, What is sample statistic called for population parameter?

The payoff values for decision alternatives : there are 5 states of nature and the cost values for the first decision alternative are 69, 17, 54, 16, 34. The decision maker is optimistic. Which payoff value is taken from the first decision alternative?

Under this optimistic criterion, the decision maker calculates the best possible payoff for each decision alternative (among all possible states of nature, for that specific alternative), and then he/she chooses the decision that has the maximum best possible outcome. Which criterion is this?