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:

Working Memory

A cognitive system with a limited capacity that is responsible for temporarily holding information available for processing.

Long-term Memory

The phase of the memory process that is concerned with the storage of information over an extended period.

Sensorimotor Stage

The first of the four stages of cognitive development in Piaget's theory, spanning from birth to two years, where infants learn through interacting with the environment.

Perceptual Information

Data received by the senses that is then interpreted by the brain to understand the environment.