Heading: Analyzing Risky Decisions

question 7

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%

-*At node A, which decision has the higher expected value?

• A)Decision A
• B)Decision B
• C)Either decision; they both have the same expected value.
• D)Neither decision; more information is needed.

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Definitions:

Culture-Based Theories

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Midden

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Globalization

The process by which businesses or other organizations develop international influence or start operating on an international scale, leading to increased interconnectedness and interdependence among the world's markets and businesses.

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A branch of anthropology focusing on the study of ancient humans and their predecessors through fossils and other remains.