Heading: Analyzing Risky Decisions

question 52

Multiple Choice

Heading: Analyzing Risky Decisions
**Reference: Use the decision tree along with the given probabilities to answer the next six questions
Probability Event A = 30% Probability Event B = 70%
Probability Event 1 = 58% Probability Event 2 = 42%
Probability of Event A given that Event 1 occurs = 16%
Probability of Event B given that Event 1 occurs = 84%
Probability of Event A given that Event 2 occurs = 50%
Probability of Event B given that Event 2 occurs = 50%

-*What is the expected value at node B?

• A)18.60
• B)16.04
• C)13.76
• D)12.50

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Definitions:

Reusing Products

The act of using items more than once for the same or a new purpose, reducing waste and conserving resources.

Health Hazard

Any source of potential damage, harm, or adverse health effects on something or someone under certain conditions at work or life.

Biomimicry

The design and production of materials, structures, and systems that are modeled on biological entities and processes.

Chemical Waste

Hazardous waste resulting from industrial, laboratory, or other processes involving chemicals, which requires special handling and disposal to minimize environmental impact.