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

question 12

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 expected opportunity loss
criterion is to study 8 hours per week on average for the exam.

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Definitions:

Diploid

A diploid cell is one that contains two complete sets of chromosomes, one from each parent, which is the characteristic number of chromosomes for most organisms' body cells.

Gamete Formation

The process by which gametes, or sex cells, are produced, involving meiosis, resulting in cells with half the original number of chromosomes.

Mitosis

A process of cell division in eukaryotic cells that results in two genetically identical daughter cells from a single parent cell.

Sperm

A male reproductive cell or gamete that can fertilize an egg cell.