Use the Following to Answer the Questions Below

question 2

Multiple Choice

Use the following to answer the questions below.
In choosing between three new jobs, Joe MBA considers the potential payoffs over the next three years. The following table contains the payoffs, given the speed of promotion in each of the organizations. The probability of fast promotion is 0.6, and the probability of slow promotion is 0.4.

-Use the information in Table A.3 and the Laplace decision rule. The weighted payoff is:

• A) less than $200,000 if the high-flying consultant job is selected.
• B) more than $280,000 if the research assistant job is selected.
• C) more than $280,000 if the utility analyst job is selected.
• D) highest for the research assistant position.

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Definitions:

Agency Coupled

A relationship where an agent is given an interest in the property of the principal, making the agency irrevocable for a specified period.

Principal's Benefit

The advantages or profits derived by an individual who has authorized another (an agent) to act on their behalf.

Disclosed

Revealed or made known, often referring to information that was previously private or confidential.

Implied Warranty

A legal guarantee that a product will meet a minimum set of standards of quality and functionality without being explicitly stated.