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MSamp;E 252 Decision Analysis I Handout 29 11/18/2016 Homework Assignment #7 Due on Thursday December 1st 11:59 pm Homework Submission Logistics:...
I am not sure if I am doing questions 3 and 4 correctly. My decision tree has a payment/no payment followed by probability of accident vs no accident. For question 3, for payment/accident is the total at the end supposed to be a gain of X-1500 and for payment/no accident, a loss of what is paid for the insurance or -.01X? I get choice a as my answer. Likewise, for question 4, is the amount of payoff supposed to change to 15000-X and the loss for payment/no accident is -150+-((150-Y)/50)? I can't seem to solve this with corresponding to any of the answer choices. Thanks for your help.
