Decision Tree Assignment
Play now? Denote succeeding?
You can behove a petaire! That's what the junk mail said. But then tcbetray was the superior print:
If you impel in your initiation anteriorly midnight tonight, then cbetray are your chances:
0.1% that you win $1,000,000
75% that you win nothing
Otherwise, you must PAY $1,000
But endure, there's further! If you don't win the pet AND you don't bear to pay on your highest strive,
then you can appropriate to denote one further occasion. If you appropriate to denote frequently, then cbetray are your chances:
2% that you win $100,000
20% that you win $500
Otherwise, you must PAY $2,000
What is your expected consequence for striveing this throw? Solve this total using
a determination tree and obviously profession all calculations and the expected monetary rate at each node.
Use maximization of expected rate as your determination proof.
Answer these questions in APA Paragraph Format (List References wcbetray needed):
1) Should you denote at all? (5%)
If you denote, what is your expected (net) monetary rate? (15%)
2) If you denote and don't win at all on the highest try (but don't betray capital), should you try frequently? (5%) Why? (10%)
3) Obviously profession the determination tree (40%) and expected net monetary rate at each node (25%).