Basic Concepts of Classification and Prediction 2.1.1 Definition 2.1.2 Classification vs. Prediction 2.1.3 Classification Steps 2.1.4 Issues of Classification and Prediction 2.2 2 2 Decision Tree Induction 2.2.1 The Algorithm 2.2.2 Attribute Selection Measures 2.2.3 Tree P 223T Pruning i 2.2.4 Scalability and Decision Tree Induction 2.3 Bayes Classification Methods 2.4 Rule Based Classification 2.5 Lazy Learners 2.6 2 6 Prediction 2.7 How to Evaluate and Improve Classification 2.1.1 Definition
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|Lovely Professional University‚ Punjab | | | | | | |
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Freemark Abbey Winery Group ZZZ 1. Construct the decision tree for William Jaeger. 2. What should he do? Jaeger should choose to harvest later and wait for the storm. If the storm does come but destroys the grapes‚ he can decide whether to bottle wine or not to protect winery’s reputation. In either way‚ he will gain higher revenues from harvesting later than harvesting immediately: EV of “Do not harvest & Bottling”: $39240 EV of “Do not harvest & Not bottling”: $39240-$12000*0.6*0.5=$35640
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MMS I 5 Site Selection: Where to Locate • Infrequent but important • Location criteria for manufacturing facility • being “in the right place at the right time” • Must consider other factors‚ especially financial considerations • Location decisions made more often for service operations than manufacturing facilities • Location criteria for service • access to customers Prof N. Balasubramanian • nature of labor force • labor costs • proximity to suppliers and markets • distribution and transportation
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Dear Mr. Jaeger‚ (Word Count – 238) Re: The decision to harvest now or wait After a through analysis‚ my view is that the best course of action is to wait to harvest. While making this decision‚ I have taken into account some of the probabilities that you have considered. If you were to harvest now‚ the total outcome from the sale would be $34‚200. If you wait‚ there is 50 % chance of rain. If it rains and botrytis mold is developed‚ the outcome will be $67‚200. This better product may improve
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Based on the E(PW)‚ is the new design preferable to the current unit? Based on a decision tree analysis‚ what is the EVPI? What does the EVPI tell you? Without information‚ the optimal decision is to take the new design‚ shown by the decision tree below |scenarios |Year 0 cost |Year 1 Saving |Year2 Saving | | |Results (j) |p(j) |Decision |Outcome | | |Optimistic |0.30
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MKT B370 (Specimen) SUGGESTED SOLUTION SECTION A Question 1 (a) Students are expected to provide a short discussion including the following content. If too little inventory is maintained‚ there is a risk of stockout and potential lost sales. In addition‚ if there is not sufficient work-in process inventory‚ the production process may become too inefficient‚ raising the cost of production. On the other hand‚ if too much inventory is maintained‚ the carrying cost may become excessively
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and the subsequent marketing‚ distribution‚ and sales of new drugs. This task is better suited for a larger company‚ such as Merck‚ which has more resources and money. 2. Build a decision-tree that shows the cash flows and probabilities at all stages of the FDA approval process. Since the EMV of the decision tree is positive‚ Merck should license Davanrik. From consolidated income statement‚ we could calculate the retained earnings as a percentage of income before taxes. Retained earnings
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Case Study 1: Tree Values Within this case‚ forest landowner Joe Smith was given an offer to sell some of his timber. Within his forest he has a variety of trees‚ according to Karen Benet only a select few of his trees are worth selling. The central problems Mr. Smith faces are how many of his trees he should sell‚ and when he should sell them. According to Ms. Bennett‚ Mr. Smith has 300 trees per acre‚ but only 60 crop trees per acre‚ out of 40 acres. Out of these 60 crop trees‚ 30 are 12”
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CONFIDENTIAL CS/SEPT 2014/QMT339 UNIVERSITI TEKNOLOGI MARA FINAL LAB TEST COURSE : SPREADSHEET MODELING AND DECISION ANALYSIS COURSE CODE : QMT339 EXAMINATION : SEPTEMBER 2014 TIME : 3 HOURS NAME : ____________________________________________________________ GROUP : ____________________ STUDENT ID LECTURER : ____________________________________________________________ : _________________________ INSTRUCTIONS TO CANDIDATES 1. 2. This question paper consists of two part: PART
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