A Chance Node on a Decision Tree Has Four Possible

question 7

Short Answer

A chance node on a decision tree has four possible outcomes, each worth $100,000.The probabilities of the outcomes occurring are assessed as 10%, 27%, 43%, and 20%.What is the expected value of this chance node? ____________________

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Definitions:

Stimuli

External or internal changes that influence the sensory organs, leading to a response from the body or brain.

Formal Education

Structured learning that takes place within an academic institution, such as schools or universities, following a set curriculum.

Kindergarten

An educational institution or learning environment for young children before they begin compulsory education at primary school.

Awareness

The knowledge or perception of a situation or fact, often leading to an understanding of complex issues or the need for action.