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Sir could you please explain why the table is set up like that.Imean why can’t we do like this
400 450 500
0. 0 0
80000. 70000. 60000
180000 157500. 135000
So 500 is the minimise the max regret.please explain .Thanks
I have no idea where you are finding this question. Is it from a past exam? Is it from a Revision Kit (and if so which publisher)?
Have you watched my free lectures on this?
Yes sir ,they are from the bol decision kit but it’s not showing any year.I have a query as well sir How are we suppose to solve the revision kit ? R we support to do all the questions or there is another way because i think i am lagging behind and will not be vale to cover.kindly share your opinion on this.Thanks.
I assume you mean the BPP Revision Kit because I have found the question there.
For the regret table we always look at each of the uncertain items in turn (in this case the variable cost) and calculate the difference in profits between what would be the best course of action (in this case the selling price) and the other courses of action.
Again, have you watched my free lectures on this where I explain the approach?
As for as the Revision Kit is concerned you should attempt as many questions as possible because question practice (and getting used to the wording of questions) is absolutely vital to passing the exam.
Sir it is from BPP revision kit.Sir I have also one confusion about using revision kit .Am I suppose to solve all the problems or there is some other way to do it .Please suggest because I am stuck ,I am lagging behind and doesn’t seems i will be able to make up on time for my exams kindly help sir