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Quiz questions for BDM, Exercises of Decision Making

Wilfrid Laurier UniversityDecision Making

Quiz questions and answers for quiz 2 for bu275

Typology: Exercises

2023/2024

Uploaded on 06/06/2024

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Download Quiz questions for BDM and more Exercises Decision Making in PDF only on Docsity!

Question 1 (1 point) Saved A decision tree is a diagram containing ( ) branch angles that vary as likelihoods increase. ( : ) triangle probability nodes. ranches representing decision alternatives and chance outcomes . (_) perfect information. Question 2 (1 point) Saved The expected value of sample information: ( ) is never more than EVPI. (__) can be greater or less than EVPI. (_ ) can be positive or negative. ) is equivalent to the EVPI. Question 3 (1 point) Saved People who take a chance on a bonanza with a very low probability of occurrence in lieu of a sure thing are: © risk seekers. (_) risk avoiders. ¢ ) risk calculators. (_) risk predictors.