Instruction 17-1
a Student Wanted to Find Out the Optimal

question 20

Short Answer

Instruction 17-1
A student wanted to find out the optimal strategy to study for a Business Statistics exam. He constructed the following payoff table based on the mean amount of time he needed to put in every week studying for the course and the degree of difficulty of the exam. From the information that he gathered from students who had taken the course, he concluded that there was a 40% probability that the exam would be easy.
$$\begin{array} { | l | l | l | l | } \hline & 16 \text { hours } & 8 \text { hours } & 4 \text { hours } \\\hline \text { Easy Exam } & 40 & 60 & 80 \\\hline \text { Difficult Exam } & 100 & 50 & 0 \\\hline\end{array}$$
-Referring to Instruction 17-1,how many possible events are there?

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Definitions:

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A psychological condition characterized by self-centeredness, a high need for admiration, and a lack of empathy.

Oregon Vocational Interest Scales

An assessment tool used to measure an individual's interests in various career paths to guide their vocational and educational decision-making.

Valid Assessment

An evaluation method that accurately measures what it is intended to measure, ensuring relevance and reliability of the results.

Oregon Vocational Interest Scales

A psychometric tool used to measure vocational interests to help in career guidance and counseling.