TABLE 19-6 a Student Wanted to Find Out the Optimal Strategy to Strategy

question 186

Short Answer

TABLE 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.

-Referring to Table 19-6, what is the return-to-risk ratio of spending 8 hours per week on average studying for the exam?

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Definitions:

Keying Errors

Typographical mistakes made during data entry or typing.

Passive Voice

A grammatical voice in which the subject of the sentence is acted upon by the verb, highlighting the action rather than the doer.

Active Voice

A grammatical voice in which the subject of the sentence performs the action expressed by the verb, leading to clearer, more direct sentences.

Business Communicators

Individuals within an organization who are responsible for the exchange of information and messages among colleagues, clients, and the public.