Jim Sellers has been able to estimate his utility for a number of different values. He would

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Jim Sellers has been able to estimate his utility for a number of different values. He would like to use these utility values in making the decision in Problem 3-44: U1-$80,0002 = 0, U1-$65,0002 = 0.5, U1-$60,0002 = 0.55, U1-$20,0002 = 0.7, U1-$5,0002 = 0.8, U1$02 = 0.81, U1$80,0002 =

0.9, U1$95,0002 = 0.95, and U1$100,0002 = 1.

Resolve Problem 3-44 using utility values. Is Jim a risk avoider?

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Quantitative Analysis For Management

ISBN: 9781292217659

13th Global Edition

Authors: Barry Render, Ralph M. Stair, Michael Hanna, Trevor Hale

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