A Chance Node on a Decision Tree Has Four Possible

question 12

Essay

A chance node on a decision tree has four possible outcomes worth $10,000, $20,000, $30,000 and minus $100,000 respectively.The probabilities of these outcomes occurring are assessed
as 10%, 25%, 50% and 15% correspondingly.What is the expected value of this chance node?

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Definitions:

Excoriation Disorder

A disorder in which persons repeatedly pick at their skin, resulting in significant sores or wounds. Also called skin-picking disorder.

Body Dysmorphic Disorder

A mental disorder involving obsessive focus on a perceived flaw in appearance, often leading to emotional distress.

Client-centered Therapy

A non-directive form of talk therapy that allows the client to lead the discussion, emphasizing unconditional positive regard.

Genuine Acceptance

Sincere acknowledgment and embrace of an individual's feelings, thoughts, and presence without judgment.