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Given is a Decision Tree Diagram. The Payoffs 1-14 are given in the table below. Answer questions a, b, and c. Payoff 1 2 3
Given is a Decision Tree Diagram. The Payoffs 1-14 are given in the table below. Answer questions a, b, and c.
Payoff | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 |
$ | 9 | 3 | -5 | 2 | 8 | 7 | -2 | 3 | 8 | 5 | 2 | -3 | 5 | 6 |
a) The value at node 4 is Blank 1 b) The value at node 8 is Blank 2 (in 1 decimal place) c) The best course of action or decision is to select alternative Blank 3
1/3 Payoff 1 1/3 Payoff 2 1/3 PayOff 3 0.30 Payoff 4 0.50 7 Payoff s Alternative A 0.20 Payoff 6 1/3 Payoff 7 1/3 Payoff 8 1/3 Payoff 9 Alternative B 0.30 Payoff 10 0.50 8 PayOff 11 0.20 PayOff 12 1/2 Payoff 13 1/2 Payoff 14Step by Step Solution
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