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new bpp revision kit.page no 25 questn 90 regarding minimax regret ! 4 Column of prices and 3 demand :best possible,most likely,worst possible
I don’t think the regret table is shown like how you thought us .I dont understand how they derived those values. when I did as per you thought like giving zero where profit is maximum I get a different answer its conflict with answer provided there.I would be glad if you could make it clear.thank you
You must ask in the Ask the Tutor Forum if you want me to answer – this forum is for students to help each other.
I am on vacation until next Wednesday and so I do not have the BPP Revision Kit with me.
However from memory I think that this is the question where BPP have the table completely wrong!!
If you do a search using the search box on the top right of this page then you should find my answer to someone else who raised the same problem.
Otherwise, if you can wait until next week and ask again, I will then have the Revision Kit in front of me and give you a full answer 🙂
Ok .Had raised same query in ask tutor forum.Do check .I couldn’t MINIMAX regret work out in search box.
I have answered you in the Ask the Tutor Forum 🙂