20 Mar QUESTION 1 Decision AnalysisGuide to marks: 20 mar
QUESTION 1 Decision AnalysisGuide to marks: 20 marks- 6 for a, 2 each for b1 & b2, 3 each for b3 & b4, 4 for b5Show all calculations to support your answers.You may follow the methods shown in the mp4 on Decision Analysis for a way to do part (b) of this question if you wish.(a) Discuss the differences among decision making under certainty, under risk and under complete uncertainty.(b) Bikram Shrestha is considering investing some money that he inherited. The following payoff matrix gives the profits that would be realised during the next year for each of the investments that Bikram is considering. Good Economy Poor Economy
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