• Caspar provided a hypothetical game which offered a positive expected payoff. He related this to poker and other decisions under uncertainty. What are the key takeaways from this example and how could it be applied to business? (https://www.youtube.com/watch?v=kKy26jP7jUc)
• Should all decisions under uncertainty be based on expected value? Why or why not?
• One strategy for forecasting was to provide a possible range (Example of economic forecast). What are the benefits to doing this?