MAT/543 MAT543 MAT 543 WEEK 7 DISCUSSION
- strayer university / MAT 543
- 17 Nov 2017
- Price: $7
- Other / Other
MAT 543 WEEK 7 DISCUSSION
Week 7 Discussion
"Decision Analysis" Please respond to the following:
- Compare the primary strengths and weaknesses of cost-benefit analysis (CBA), cost-effectiveness analysis (CEA), and cost-utility analysis (CUA). Give your opinion on which method you believe to be the most effective in economic evaluation.
- Using the umbrella decision-making example on page 198 of the textbook, suppose the probability of rain is 0.6, the ruined clothes cost is $30, and the lost umbrella costs are $2. Come to a decision based upon these assumptions, and determine the break-even probability of rain.
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