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- OPPORTUNITY LOSS TABLE
- THIS PROGRAM ASSUMES THERE ARE FROM 1 TO 6 STATES OF NATURE.
- THERE ARE ALSO FROM 1 TO 6 POSSIBLE ACTIONS WE CAN TAKE. IF THE
- STATE OF NATURE(S OF N) IS KNOWN THEN EACH ACTION LEADS TO
- A KNOWN MONETARY RESULT. THIS RESULT IS A CONDITIONAL PROFIT.
- FOR EXAMPLE, IF ACTION 3 LEADS TO A $35 PAYOFF WHEN STATE OF
- NATURE 4 IS TRUE THEN 35 IS THE CONDITIONAL PROFIT OF ACTION
- 3 GIVEN STATE OF NATURE 4. IF WE LOOK AT THE CONDITIONAL
- PROFIT OF EACH ACTION WITH RESPECT TO A PARTICULAR S OF N
- THEN THERE IS A LARGEST PROFIT. THE AMOUNT BY WHICH EACH OF
- THE OTHER PROFITS DIFFER FROM THE MAXIMUM IS CALLED THE
- OPPORTUNITY LOSS OF THE CORRESPONDING ACTION FOR THE
- PARTICULAR STATE OF NATURE. IN THIS PROGRAM ALL OF THE
- CONDITIONAL PROFITS ARE ENTERED AND AN OPPORTUNITY LOSS
- TABLE IS CONSTRUCTED. EXPECTED OPORTUNITY LOSSES ARE ALSO COMP.
- PRESS ENTER TO BEGIN?
- ENTER NUMBER OF POSSIBLE STATES OF NATURE? 3
-
- ENTER PROBABILITY OF S OF N 1 ? 22
- ENTER PROBABILITY OF S OF N 2 ? 33
- ENTER PROBABILITY OF S OF N 3 ? 44
-
- PROBABILITIES DO NOT SUM TO 1.
- ENTER 1 TO STANDARDIZE,0 TO BEGIN OVER? 1
-
- ENTER NUMBER OF POSSIBLE ACTIONS(<=5)? 2
- NO PAYOFF MORE THAN 9999.99
-
-
- ACTION 1
- PAYOFF WHEN S OF N IS 1 ? 101
- PAYOFF WHEN S OF N IS 2 ? 102
- PAYOFF WHEN S OF N IS 3 ? 103
-
- ACTION 2
- PAYOFF WHEN S OF N IS 1 ? 201
- PAYOFF WHEN S OF N IS 2 ? 202
- PAYOFF WHEN S OF N IS 3 ? 203
- COMPUTING
-
- IS LINE PRINTER OUTPUT DESIRED(Y/N)? Y
- OPPORTUNITY LOSSES OF ACTION GIVEN S OF N
-
- S N PR ACTION
- ACTION 1 ACTION 2
- 1 0.22 100.00 0.00
- 2 0.33 100.00 0.00
- 3 0.44 100.00 0.00
-
- EXP EOL. 100.00 0.00
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