Question     25.

 Poor Avg Good EV Alternative-1 31 31 24 28.9 Alternative-2 10 23 17 18.6 Alternative-3 29 20 13 19.7 Alternative-4 15 27 19 22.2 Probability 0.2 0.5 0.3

So, Alternative-1 is the best

3.

Average (overall) = (100+175+225+135)/4 = 158.75

So, Qtr-3 index = 225/158.75 = 1.417

16.

Totals of frequency = 7+11+6+3+1 = 28

Prob(Sales=90) = 7/28 = 0.25
Prob(Sales=200) = 11/28 = 0.3829

So, PRob(Sales <= 2000 = Prob(Sales=90) + Prob(Sales=200) = 0.25 + 0.3829 = 0.64

17.

EVUPI = 0.4 * Max payoff for Good + 0.6 * Max payoff for Bad = 0.4*9.6 + 0.6*11.4 = 10.68

14.

Forecast of period-3 = Actual of period-2 = 11.5

So, error = Actual of period-3 - Forecast of period-3 = 4.6 - 11.5 = -6.9

So, absolute error = |-6.9| = 6.9

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