TABLE 17-6
a Student Wanted to Find Out the Optimal

question 57

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 return-to-risk ratio of spending 8 hours per week on average studying for the exam?

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Definitions:

Judaism

A monotheistic religion of the Jewish people, rooted in the Hebrew Bible (Tanakh) and Talmud, incorporating cultural, legal, and traditional practices.

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Terminally Ill

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A strong feeling of annoyance, displeasure, or hostility, often a response to perceived wrong or injustice.