Instruction 17-2
a Student Wanted to Find Out the Optimal

question 36

Multiple Choice

Instruction 17-2
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 17-2,if the probability of S1 is 0.5,then the expected opportunity loss (EOL) for A3 is _______.

• A) 3
• B) 4.5
• C) 8
• D) 7

---

Definitions:

People Skills

Interpersonal skills that enable an individual to interact effectively and harmoniously with other people.

Management Training

Programs specifically designed to enhance the leadership, strategic thinking, and decision-making skills of those in managerial positions.

Henry Mintzberg

A renowned management theorist who developed influential organizational and business strategies, including the classification of managerial roles and the structuring of organizations.

Interpersonal

Refers to the skills and behaviors used to interact effectively with other people.