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Unformatted text preview: contest has been designed so that Joe will not know whether or not he hits any target until after he has made all ten shots. He obtains 6 points if any shot hits target 1, 4 points for hitting target 2, 10 points for hitting target 3, and 7 points for hitting target 4. At each shot there is an 80% chance that he will miss target 1, a 60% chance of missing target 2, a 90% chance of missing target 3, and a 50% chance of missing target 4, given that he aims at the appropriate target. If Joe wants to maximize his expected number of points, how many shots should he aim at each target? 5. Exercise 16.2 from Optimization for Finance 1...
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This note was uploaded on 07/26/2011 for the course IEOR 4007 taught by Professor Garudiyengar during the Spring '10 term at Columbia.
 Spring '10
 GarudIyengar
 Financial Engineering, Optimization

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