If a Student Attends Every Management Science Class, the Probability

question 33

Essay

If a student attends every management science class, the probability of passing the course is 0.80; but if the student only attends randomly, then the probability of passing the course is 0.50. If a student fails, he or she can take a makeup exam where the probability of passing is 0.60 if the student has attended every class. This probability of passing the makeup exam drops to 0.10 if the student has attended at random.
Passing the course is worth 5 credits. Full time attendance "costs" 3 credits in terms of energy and time, whereas random attendance "costs" only 1 credit.
Use a decision tree to decide which is the best attendance pattern to adopt. Assume that all failing students take the make up exam and that the payoff for failing is equal to 0.

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