TABLE 17-6
a Student Wanted to Find Out

question 31

Short Answer

TABLE 17-6
A student wanted to find out the optimal strategy to study for a Business Statistics exam. He constructed the following payoff table based on the average amount of time he needed to put in every week studying for the course and the degree of difficulty of the exam. From the information that he gathered from students who had taken the course, he concluded that there was a 40% probability that the exam would be easy.
$$\begin{array} { | l | c | c | c | } \hline & \text { 16 hours } & 8 \text { hours } & \text { 4 hours } \\\hline \text { Easy Exam } & 40 & 60 & 80 \\\hline \text { Difficult Exam } & 100 & 50 & 0 \\\hline\end{array}$$
-Referring to Table 17-6, what is the expected profit under certainty?

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Definitions:

Overexcited

Experiencing a heightened state of excitement or agitation beyond what is considered normal or manageable.

Hyperactive

Exhibiting excessively active behavior, often with difficulty in maintaining attention or control over impulses.

Wildly Optimistic

Characterized by an extremely positive and confident expectation for the future, often beyond what is considered realistic.

Major Depressive Disorder

A psychiatric condition characterized by persistent feelings of sadness, loss of interest in activities, and other symptoms that disrupt daily functioning.