SCENARIO 20-6 a Student Wanted to Find Out the Optimal Strategy to Strategy

question 13

Short Answer

SCENARIO 20-6
A student wanted to find out the optimal strategy to study for a Business Statistics exam with scores out of 100 possible points.He constructed the following payoff table based on the mean amount of time he needed to study every week 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.

-Referring to Scenario 20-6,what is the return-to-risk ratio of spending 8 hours per week on average studying for the exam?

---

Definitions:

Personality Assessment

The measurement of personal characteristics through tests and observations, often used to identify psychological traits or disorders.

Consistency

It refers to the degree to which a person's actions, beliefs, attitudes, and feelings remain the same over time or across situations.

Ethnicity

A categorization of people based on shared cultural, linguistic, or ancestral traits.

Personality Assessment

The measurement and evaluation of an individual's characteristic patterns of behavior, thoughts, and emotions, often using tests and inventories.