COLLABORATIVE WORK

Problem 1. Laplace, Wald or pessimistic, optimistic, Hurwicz and Savage criteria

(Profit Matrix):

In the company ABC several alternatives are presented to choose the best

technology of four possible, whose performance depends on the adaptation of

the workers who will manipulate the equipments that comprise it. The expected

benefits of each alternative and degree of adaptation of the workers are given in

the table, in millions of pesos ($).

Event
Does not Fits Fits Fits very
Alternative Fits well
fit acceptably successfully well
Technology 1 760 790 820 860 890
Technology 2 900 840 840 830 800
Technology 3 800 850 880 900 920
Technology 4 910 880 870 860 850
Technology 5 890 880 890 910 940

Table 1. Profit matrix

 Criterion of Laplace
With the criterion of Laplace, technology 5 was chosen since it generates the best
expected result.

 Criterion of Wald pessimistic

With the criterion of Wald being pessimistic, the best is chosen from the worst,
which is why technology was chosen 5.

 Criterion of Wald optimistic

With the criterion of wald being optimistic, the best of the results is chosen, for
which the technology is chosen 5.
  Criterion of Hurwicz

With the criterion of Hurwicz assuming a coefficient of 0.68, the best result would
be technology 5.

 Criterion of Savage

With Savage's criterion technology 5 would be chosen since this is the one that is
generating the least costs.