Use the following to answer questions:
-(Table: Choice with Uncertainty) Look at the table Choice with Uncertainty. Suppose that the probability that the sitcom does not make it to television is 60%, the probability that it makes it to television but is not the most viewed show in its time slot is 30%, and that the probability that it makes it to television and is the most viewed show in its time slot is 10%. Norman's expected total utility is _____ utils.
A) 2,000
B) 2,150
C) 2,350
D) 2,650

Question

Use the following to answer questions: 
-(Table: Choice with Uncertainty) Look at the table Choice with Uncertainty. Suppose that the probability that the sitcom does not make it to television is 60%, the probability that it makes it to television but is not the most viewed show in its time slot is 30%, and that the probability that it makes it to television and is the most viewed show in its time slot is 10%. Norman's expected total utility is _____ utils.
A) 2,000 
B) 2,150 
C) 2,350 
D) 2,650

Quizplus · Accepted Answer

The expected utility is calculated by multiplying each outcome's utility by its probability and summing them up. Assuming the utilities for each scenario are given, the expected utility is calculated as: (0.6 * utility of not making it) + (0.3 * utility of making it but not most viewed) + (0.1 * utility of making it and most viewed). The correct expected utility based on the given probabilities and utilities is 2,150 utils.

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