Posted: January 9th, 2017
At a decision point in a decision tree, which machine would you select when trying to maximize payoff when the anticipated benefit of selecting machine A is $45,000 with a probability of 90%; the expected benefit of selecting machine B is $80,000 with a probability of 50%; and the expected benefit of selecting machine C is $60,000 with a probability of 75%?
At a decision point in a decision tree, which machine would you select when trying to maximize payoff when the anticipated benefit of selecting machine A is $45,000 with a probability of 90%; the expected benefit of selecting machine B is $80,000 with a probability of 50%; and the expected benefit of selecting machine C is $60,000 with a probability of 75%?
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