Final 1997 with solutions

Final 1997 with solutions - MS&E 252 November 29th, 2001...

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November 29 th , 2001 Handout #25, page 1 of 25 SAMPLE FINAL : Please do not begin the exam until you are instructed to do so. Name (printed clearly): _______________________________________________ 1. Count the number of pages in this exam. There should be 34 pages including this one. The exam has 15 problems. 2. This exam is closed-book and closed-notes . You may use a calculator, a foreign language dictionary, and one 8.5" x 11" sheet of paper with notes on one side if you wish. Please sit in alternate seats if possible. 3. The exam has 15 problems worth a total of 200 points. The value of each problem is stated at the beginning of the problem. 4. Write your answers in this exam and turn in the entire exam at the end of testing period. If you make a false start please remember to erase or scratch out your work. 5. Please write clearly and show your work. You will not receive credit for illegible work or if you do not show your work. Partial credit will be given where appropriate. For problems with numerical answers, please draw a box around the final answer; this will facilitate our work. 6. The exam lasts three hours. After time is called, you will have five minutes to turn in your exam. We will not accept any exams that are turned in after this deadline. 7. In the spirit of the Honor Code, the TA's will not remain in the classroom during the exam. If you have any questions, come see us outside. Clarifications will be announced to the entire class. 8. Unless stated otherwise the characters in the exam prefer more money to less and follow the Five Rules of Actional Thought. 9. Do not make any additional assumptions. 10. Good luck and make good decisions. In recognition and in the spirit of the Honor Code, I certify that I will neither receive nor give unpermitted aid on this exam and that I will report, to the best of my ability, all Honor Code violations observed. Name (signed): _______________________________________________ For grading use only. 1 2 3 4 5 6 7 8 9 10 /30 /4 /10 /4 /10 /10 /18 /15 /7 /15 11 12 13 14 15 /10 /16 /15 /16 /20
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November 29 th , 2001 Handout #25, page 2 of 25 1. Definitions and Distinctions (30 points) Part I (10 points) Consider the following terms. Briefly define the terms that are appropriate distinctions for use in Decision Analysis. If the term is not an appropriate distinction for Decision Analysis, explain why and list an appropriate distinction that we use instead. a) (2 points) prospect b) (2 points) Clairvoyant c) (2 points) dependence d) (2 points) u-value e) (2 points) risk attitude Part II (10 points) Please provide short answers to the following questions. a)
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This note was uploaded on 06/16/2010 for the course MS&E 252 taught by Professor Howard during the Fall '08 term at Stanford.

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Final 1997 with solutions - MS&E 252 November 29th, 2001...

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