Question: For the probabilities of Exercise 8 and the decision tree of Exercise 4, using the expected values found in Exercise 8, compute the standard deviations

For the probabilities of Exercise 8 and the decision tree of Exercise 4, using the expected values found in Exercise 8, compute the standard deviations of the values associated with each action and the corresponding coefficient of variation.

In exercise

In exercise
Suppose P(Warm) = 0.5, P(Moderate) = 0.3, and P(Cold) = 0.2. What is the expected value of each action?

Action Outcome State Warm550 Moderate 6 Cold710 Warm410 Moderate590 Cold 800 Warm Moderale710 Cold 590 Point of Sale Magazine 750 Internet

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