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  • Review For Midterm

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    Phương Linh
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    Homework

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    9 views3 pages

    Review For Midterm

    Uploaded by

    Phương Linh

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 3

    REVIEW FOR MIDTERM

    Question 1.

    a) What decision would an optimist make?


    b) What decision would a pessimist make?
    c) What decision would a minimax-regret make?
    d) If the probability of poor market is 0.3, fair market is 0.3, and strong
    market is 0.4, What is the decision to maximize the expected monetary
    value?
    e) Calculate the expected value of perfect information for this situation. (7
    marks)
    Question 2.

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