SCENARIO 19-6
a Student Wanted to Find Out the Optimal

question 104

True/False

SCENARIO 19-6
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 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. $$\begin{array} { | l | l | l | l | } \hline & 16 \text { hours } & 8 \text { hours } & 4 \text { hours } \\\hline \text { Easy Exam } & 40 & 60 & 80 \\\hline \text { Difficult Exam } & 100 & 50 & 0 \\\hline\end{array}$$
-Referring to Scenario 19-6, the optimal strategy using the coefficient of variation
criterion is to study 8 hours per week on average for the exam.

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Definitions:

Humanistic Psychology

A psychological perspective that emphasizes the study of the whole person and the uniqueness of each individual's experience.

Subjective Experiences

Individuals' personal perceptions and feelings about their lives and the world around them.

Unconscious Attitudes

Deeply held beliefs or feelings that are not within an individual's immediate awareness, often influencing behavior unknowingly.

Delinquent

A person, typically young, who has committed minor crimes or acts of misconduct.