Use precisiontree to construct and solve a decision tree

Assignment Help Other Subject
Reference no: EM13184583

You are a contestant on "Who Wants to be a Millionaire?" You have already answered the $250,000 question correctly and now must decide if you would like to answer the $500,000 question. You can choose to walk away at this point with $250,000 in winnings or you may decide to answer the $500,000 question. If you answer the $500,000 question correctly, you can then choose to walk away with $500,000 in winnings or go on and try to answer the $1 million question. If you answer the $1 million question correctly, the game is over and you win $1 million. If you answer either the $500,000 or the $1 million question incorrectly, the game is over immediately and you take home only $32,000.

A feature of the game is that you have three "lifelines." At this point (after answering the $250,000 question), you have already used two of these lifelines, but you have the "phone a friend" lifeline remaining. With this option, you may phone a friend and obtain advice on the correct answer to a question before giving your answer. You may use this option only once (i.e., you can use it on either the $500,000 question or the $1 million question, but not both). Since some of your friends are smarter than you are, "phone a friend" significantly improves your odds of answering a question correctly. Without "phone a friend," if you choose the answer the $500,000 question you have a 65% chance of answering correctly, and if you choose to answer the $1 million question you have a 50% chance of answering correctly. With "phone a friend," you have an 80% chance of answering the $500,000 question correctly and a 65% chance of answering the $1 million question correctly.

Use PrecisionTree to construct and solve a decision tree to decide what to do. What is the best course of action, assuming that your goal is to maximize your expected winnings? 

Reference no: EM13184583

Questions Cloud

Explain price elasticity of demand for automobiles measures : The demand curve for a good is very unlikely to be perfectly vertical because A) scarcity and limited income restrict the ability of consumers to afford goods as they become very expensive. B) as the price of a good rises to high enough levels, the ..
Explain extract a compond from an aqueous solution : solvent to be used to extract a compond from an aqueous solution and when carrying out an extraction, what are the advantages/ disadvantages of having your extraction solution more/less dense than water?
Republican victory : Support or refute the text authors’ assertion that "it was probably fortunate for the Union that secession and civil war did not come in 1856, following a Republican victory."
State what will the final concentration of nadh : alcohol dehydrogenase. Assume all of the ethanol gets converted to acetaldehyde.a) What will the final concentration of NADH be in the solution?
Use precisiontree to construct and solve a decision tree : Use PrecisionTree to construct and solve a decision tree to decide what to do. What is the best course of action, assuming that your goal is to maximize your expected winnings?
How the price of a product has no effect on demand : National defense is considered a public good because there appears to be no limits to the nonrivalry-in-consumption characteristic, and exclusion of nonpayers is impossible. Are there any other goods that so perfectly meet both public goods criter..
Compute the molar absorptivity : calculate the molar absorptivity (epslion) of Cu2+ at 620nm given that the curvettes used in lab had a pathlegth of 1.00 cm.
Discuss the significance of alternative forms : In a report for the attention of James Brennan discuss the significance of alternative forms of finance available to him and the importance of the nature of the business entity in the process. Your report should relate to aspects considered in the..
When the production of a good generates external benefits : Which of the following increases the political power of special interest groups and makes counterproductive government action more likelyA car sells at different prices at different dealerships in a local market. If a consumer has imperfect informa..

Reviews

Write a Review

 

Other Subject Questions & Answers

  Attaching meaning and value

The solution is comprehensive narrative essay of 2,734 words tackling personalized approach to meaning and value. It is a simulated essay that presents a personal philosophy drawn from experience and socialization.

  Explain way to quantify variablesfor correlations

Your study must give a way to quantify variables between which you may search for correlations. Between violent behavior and watching televison.

  Field of psychology

In the field of psychology, what is ment by the term "catharsis"? According to Joseph Breuer, what effect did "catharsis" have on the mental function of someone with a "troubled mind"? Why?

  Explain similarity of versions of much ado

Select one scene from Much Ado. Watch three versions of scene, selecting among the following productions: Joss Whedon's 2012 film; Kenneth Branagh's 1993 version. What do they do likewise? How are they dissimilar?

  Discuss the benefits of training

Provide an overview of all the training methods and discuss their advantages and disadvantages Discuss the benefits of training

  Employee orientation for clinical versus non clinical staff

In healthcare organizations what are some challenges that must be considered in terms of employee orientation for clinical staff versus non clinical staff?

  One survey of 1,000 major corporations found

One survey of 1,000 major corporations found that a. most maintained that electronic surveillance of their employees would e an invasion of privacy b. about two-thrids practiced electronic surveillance of their employees

  Describe examples off your leadership experience

Describe examples off your leadership experience and have how you have significantly influenced others, helped resolve disputes or contributed to group efforts over time consider responsibilities you have taken for initiatives in or out of school.

  What is a healthy body weight

What is a healthy body weight? How is fat burned? if I am a 24 year old man 6ft tall,177lb and wonts to weigh 165 in 40 days what is the best way to do that?

  Operant conditioning defined along with types

As well describes what behavoirs are best learned by which operant conditioning method.

  Quality of care and reduced cost in healthcare

From your research, do you feel these new federal and state laws have improved access/quality of care and reduced cost in healthcare?

  Explain role of judges in israel during settlement period

Write down essay (500-750 words) explaining role of judges in Israel during settlement period. Use GCU eLibrary to recognize and use two scholarly sources in addition to text.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd