BUS 3101 Decision making Week 2 Assignment 2: Solving a Decision Tree - 18588

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Assignment 2: Solving a Decision Tree

By Sunday, August 19, 2012, complete the following assignment:

Review the Solving a Decision Tree lecture and use the same approach illustrated.

You need to choose between two gambles. In the first gamble you have a 30% chance of receiving $100, a 50% chance of receiving $75, and a 20% chance of receiving $20. In the second gamble, you have a 40% chance of receiving $80, a 40% chance of receiving $60, and a 20% chance of receiving $50. Draw a decision tree to represent the problem. Solve the problem by rolling back the decision tree.

 

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