Purchase Solution

Payoff table data analysis tool explained with examples

Not what you're looking for?

Ask Custom Question

A payoff table is a data analysis tool used tell you what the payoffs will be for different outcomes. An expected payoff table gives us the outcome times the probability that it will occur. Give examples (in the simplest form) of these two tables using real data.

Purchase this Solution
Solution Summary

This post addresses about payoff table data analysis tool explained with examples.

Solution Preview

See the attached file.

Example:
Company A is a small manufacturer of several different cheese products. One product is a cheese spread sold to retail outlets.
The company must decide how many cases of cheese spread to manufacture each month. The probability ...

Purchase this Solution
Free BrainMass Quizzes
Lean your Process

This quiz will help you understand the basic concepts of Lean.

MS Word 2010-Tricky Features

These questions are based on features of the previous word versions that were easy to figure out, but now seem more hidden to me.

Learning Lean

This quiz will help you understand the basic concepts of Lean.

Academic Reading and Writing: Critical Thinking

Importance of Critical Thinking

Understanding Management

This quiz will help you understand the dimensions of employee diversity as well as how to manage a culturally diverse workforce.

View More Free Quizzes
Related BrainMass Solutions

  • Payoff Table and Decisions

    549117 The solution gived detailed steps on figuring out the optimistic decision and Conservative Decision using the given payoff table. All formula and calculations are shown and explained. The following payoff table shows the net dollar returns.

  • Multiple regression analysis in SPSS..

    Applied Multiple Regression/Correlation Analysis for the Behavioral Sciences. New Jersey: Psychology Press. Carver, R. & Nash, J. (2011). Doing Data Analysis with SPSS: Version 18.0 (5th ed.). USA: Cengage Learning.

  • Decision Analysis

    296681 Decision Analysis Theory What is decision theory? What is the difference between a payoff table and an expected payoff table? In the following payoff table, let P(S1) = 0.30, P(S2) = 0.50, and P(S3) = 0.20.

  • Decision Analysis

    The following payoff table shows profit for a decision analysis problem with two decision alternatives and three states of nature: State of Nature Decision Alternative S1 S2 S3 D1 250 100

  • Bardi Correlation Coefficient

    The data analysis tool is used for the regression analysis in excel, correlation coefficient is calculated manually by showing all the formulas and calculations. Full interpretation is given for correlation and regression analysis.

  • Decision Analysis with Payoff Tables and States of Nature

    45869 Decision Analysis with Payoff Tables and States of Nature A payoff table is given as States of Nature .... a. What decision alternative would be made using a minimax regret? b.

  • Case 3.4 Pampers Develops a Rash Regression using SPSS

    The relevant analysis conducted and explained include mean & standard deviation, correlation table, summary table of variables, model summary (R-Square), ANOVA Table, coefficients table.

  • A tabular presentation that shows the outcome

    payback period matrix B. decision matrix C. decision tree D. payoff table In decision analysis, Payoff is the return of a decision. Different combinations of decisions and states of nature (uncertainty) generate different payoffs.

  • Analysis of decision; develop of decision table & loss table

    Choose the alternative with the largest weighted payoff.

View More Related Solutions