dmur: Statistical Decision Analysis: with the help of this package...

In decision: Statistical Decision Analysis

Description

Statistical Decision Analysis: with the help of this package we construct the payoff table and the opportunity loss table and calculate various statistical parameters like EMVs, MEMV, EPPI, EVPI, EOL which help in taking effective decisions.

Usage

dmur(dAmount, prob, sPrice, pPrice)

Arguments

dAmount	A data vector to store values
prob	A data vector to store the probabilities
sPrice	A numeric value to store selling price
pPrice	A numeric value to store preparation/ purchase price

Value

MEMV, bestValue, EPPI, EVPI, EOL

References

1. Khalili, k., Damghani, M. T., Taghavifard, R., Tavakkoli M., (2009) Decision making under uncertain and risky situations, Enterprise risk management symposium monograph society of Actuaries- Schaumburg, Illinois, vol. 15.

2. Marakas, G. M. (2006) Decision support system- In the 21st century, 2nd edition, Pearson education, New Delhi.

3. Turban, E., Aronson, J. E. and Liang, T.P. (2006) Decision support system and intelligent systems, Pearson education, New Delhi.

Examples

dmur(c(50, 100, 150, 200), c(0.2,0.4,0.3,0.1), 20, 10)

decision documentation built on May 2, 2019, 3:46 p.m.