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

question 33

True/False

SCENARIO 20-6
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.
-True or False: Referring to Scenario 20-6, 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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Socioeconomic Status

A measure of an individual's or group's economic and social position relative to others, based on income, education, and occupation.

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Shared expectations and rules that guide behavior of people within social groups.

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A theory of behavior change that describes five stages through which individuals progress to alter a behavior permanently.