# 1mid08 - DADSS First Midterm Spring 2008 Test Number Don't...

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DADSS First Midterm Spring 2008 2
DADSS First Midterm Spring 2008 Given the following decision matrix showing PROFIT data. Outcome 1 Outcome 2 Outcome 3 Alternative 1 3 3 3 Alternative 2 2 -4 4 Alternative 3 4 2 3 Alternative 4 3 -2 3 2) When comparing the alternatives using the optimist, pessimist, and rational (equal probability) heuristics, which statement is true? A) Alternative 1 is preferred with two of the heuristics. B) Alternative 3 is preferred with all three. C) Alternative 4 is never preferred. D) "None of the above," "More than one of the above" or “Not enough information” 3) When comparing the alternatives using the Hurwicz ( α =0.6) and the regret heuristics, which statement is true? A) Alternative 1 is preferred by both measures. B) Alternative 2 is preferred by one measure C) Alternative 3 is preferred by both mesures D) "None of the above," "More than one of the above" or “Not enough information” You are playing a game against your friend, Pat. Both of you have a choice to pick between five doors, behind one of which is \$1,000,000. You are allowed to go first. Pat picks a door after you. You both cannot pick the same door. After you both pick, one of the other three doors is opened showing no prize. 4)

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1mid08 - DADSS First Midterm Spring 2008 Test Number Don't...

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