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

question 31

True/False

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, the optimal strategy using the maximax criterion is to study 16 hours per week on average for the exam.

---

Definitions:

Search Button

A feature in software applications that allows users to input text to find specific data or documents within the system.

Lookup Field

A field in a database that allows the user to select a value from another table or a list, facilitating data entry and ensuring data integrity.

List Of Values

A predefined set of data that can be chosen from, often used in databases and applications for input fields.

Combo Field

A field in databases or forms that combines a text box and a drop-down list, allowing users to select an item from a list or type in a value.