Heading: Analyzing Risky Decisions
**Reference: Use the decision tree along with the given probabilities to answer the next six questions
Probability Event A = 30% Probability Event B = 70%
Probability Event 1 = 58% Probability Event 2 = 42%
Probability of Event A given that Event 1 occurs = 16%
Probability of Event B given that Event 1 occurs = 84%
Probability of Event A given that Event 2 occurs = 50%
Probability of Event B given that Event 2 occurs = 50%

-A decision tree is:
A)a diagram that describes the options available to a decision marker as well as the certain events that can occur at each point in time.
B)a diagram that helps the observer calculate the expected value, variance and standard deviation of a probability distribution.
C)not applicable to making decisions under conditions of uncertainty.
D)a diagram that describes the options available to a decision marker as well as the risky events that can occur at each point in time.

Question

Heading: Analyzing Risky Decisions
**Reference: Use the decision tree along with the given probabilities to answer the next six questions 
Probability Event A = 30% Probability Event B = 70%
Probability Event 1 = 58% Probability Event 2 = 42%
Probability of Event A given that Event 1 occurs = 16%
Probability of Event B given that Event 1 occurs = 84%
Probability of Event A given that Event 2 occurs = 50%
Probability of Event B given that Event 2 occurs = 50%
 
-A decision tree is:
A)a diagram that describes the options available to a decision marker as well as the certain events that can occur at each point in time. 
B)a diagram that helps the observer calculate the expected value, variance and standard deviation of a probability distribution. 
C)not applicable to making decisions under conditions of uncertainty. 
D)a diagram that describes the options available to a decision marker as well as the risky events that can occur at each point in time.

Quizplus · Accepted Answer

The Answer of Heading: Analyzing Risky Decisions
**Reference: Use the decision tree along with the given probabilities to answer the next six questions 
Probability Event A = 30% Probability Event B = 70%
Probability Event 1 = 58% Probability Event 2 = 42%
Probability of Event A given that Event 1 occurs = 16%
Probability of Event B given that Event 1 occurs = 84%
Probability of Event A given that Event 2 occurs = 50%
Probability of Event B given that Event 2 occurs = 50%
 
-A decision tree is:
A)a diagram that describes the options available to a decision marker as well as the certain events that can occur at each point in time. 
B)a diagram that helps the observer calculate the expected value, variance and standard deviation of a probability distribution. 
C)not applicable to making decisions under conditions of uncertainty. 
D)a diagram that describes the options available to a decision marker as well as the risky events that can occur at each point in time.