StatisticsTitle: week4

This is an alternative forum which can be a substitute for Discussion Forum 4: You only need one in" rel="nofollow">initial response to either Discussion Forum 4 or 4a but not both, and 2 other responses to your classmates in" rel="nofollow">in Discussion Forum 4 and/or 4acombin" rel="nofollow">ined (not in" rel="nofollow">individually). In this more technical discussion post, you either need to ask a technical question on the followin" rel="nofollow">ing topic or answer a question raised by another person. If you ask a question, then your question has to be specific. For example, you will not get any credit if you simply ask: how to calculate the EMV. However, you will receive credit if you explain" rel="nofollow">in that "I did this and this and could not get the EMV in" rel="nofollow">in Excel, and then ask for help." Also, there is NO word limit for both questions and answers in" rel="nofollow">in this type of forum. The content counts more than the words in" rel="nofollow">in such technical forums. The most popular method used in" rel="nofollow">in decision makin" rel="nofollow">ing is an application of the Criterion of Realism (Hurwicz), that is to choose the alternative with the highest expected monetary value (EMV). This decision rule is explain" rel="nofollow">ined in" rel="nofollow">in this week's PowerPoin" rel="nofollow">int Slides 3-21 to 3-30 and 3-37. Please discuss one of the followin" rel="nofollow">ing in" rel="nofollow">in this discussion Forum : (1) how you would use the Decision Trees explain" rel="nofollow">ined in" rel="nofollow">in Slides 3-38 to 3-47 to help you to apply this decision rule? (2) If you will use Excel or QM in" rel="nofollow">instead, then how would you apply this decision rule usin" rel="nofollow">ing the software?