A hospital reports that two patients have been admitted who have contracted Crohn's disease
Suppose our experiment consists of observing whether each patient survives or dies as a result
of the disease.
The simple events and probabilities of their occurrences are shown in the table
(where S in the first position means that patient 1 survives, D in the first position means that
patient 1 dies, etc.).
Simple Events Probabilities
SS 0.52
SD 0.19
DS 0.16
DD 0.13
Find the probability that both patients survive.
A) 0.13 B) 0.35 C) 0.2704 D) 0.52
D
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Decision trees:
A) give more accurate solutions than decision tables. B) give less accurate solutions than decision tables. C) are especially powerful when a sequence of decisions must be made. D) are rarely used because one needs specialized software to graph them. E) are too complex to be used by decision makers.
Principle 8, Risk and Return go hand in hand, tells us that you ________ as the length of the investment horizon ________
A) can afford to take on additional risk; increases B) can afford to take on additional risk; decreases C) cannot afford not to take on additional risk; shortens D) cannot afford to take on additional risk; increases