Pat needs to purchase airplane tickets to fly home at the end of the term. The last exam schedule slot is Friday at 3 p.m., but Pat’s exams haven’t yet been scheduled. Exams are scheduled centrally at Pat’s school, and there’s no alternative time to take them. Pat simply must be there. A ticket to f ly out on Thursday morning costs \($750.\) If the exam is scheduled on Thursday or Friday, Pat would have to sacrifice the ticket and buy a new one for \($1200.\) An advance-purchase ticket for Saturday morning costs \($900,\) but, the end of term being a busy time, Pat doubts this option will be available for many more days.
QUESTIONS
What are the actions in this decision process?
What are the states of nature?
What are the outcomes?