Decision Theory - Bayesian Inference - Optimization Models - Marketing Assignment Help

Assignment Task:

Question 1. Decision Theory 

Trained classifiers may be used to determine the polarity of sentiments expressed in a tweet as Positive or Negative. A tweet may be inherently Complimentary or Derogatory. There are two available classifiers for this task: A and B. Sixty per cent of the tweets are Complimentary. The performance of the classifiers are shown in the tables below:

Question 2. Bayesian Inference 

A classifier is used to determine the polarity of sentiments expressed in a tweet as Positive or Negative. A tweet may be inherently Complimentary or Derogatory. The classifier incorrectly classifies 10% of the Complimentary tweets as Negative, and 25% of the Derogatory tweets as Positive. Assume that 60% of the tweets are Complimentary.

Estimate the probability that a tweet classified as Negative is actually Complimentary.

Question 3. Optimization Models 
A company provides 4 types of products to a client – A, B, C, and D. In-house production costs are estimated to be $2, $3, $4, and $5 per unit for products A, B, C, and D respectively.  Each product requires three types of raw materials – RM1, RM2, and RM3 – for in-house production:
2 units of RM1, 2 units of RM2, and 2 units of RM3 per unit of product A;   
2 units of RM1, 3 units of RM2, and 3 units of RM3 per unit of product B; 
1 unit of RM1, 4 unit of RM2, and 5 units of RM3 per unit of product C; and 
2 units of RM1, 4 units of RM2, and 5 units of RM3 per unit of product D. 

Over the upcoming month, the company has 1,200,000 units of RM1, 2,500,000 units of RM2, and 2,880,000 units of RM3 available. Because of contractual obligations the company must provide the client with 500,000 units of product A, 400,000 units of product B, 300,000 units of product C, and 100,000 units of product D in the upcoming month. 

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