Question: 1. A bank's customers arrive at an automatic teller machine at a rate of 15 an hour on Saturday nights, and they average transaction takes

1. A bank's customers arrive at an automatic

1. A bank's customers arrive at an automatic teller machine at a rate of 15 an hour on Saturday nights, and they average transaction takes 180 seconds. Find the probability. a. The machine is idle. b. B. the machine is busy. C. There are two people in the system. d. The number of customers waiting for service. 2. States of nature: a. Cannot be chosen by a decision maker. b. Should include all possible happenings. C. Do not overlap with other states of nature. d. All of the above are true. 3. Decision trees: a. Contain both decision and event nodes. b. Represent decision nodes with circle. C. Poorly represent sequential decision. d. All of the above are true 4. The decision maker with a payoff table showing profit who is optimistic would prefer to make decisions using the: a. Minimax criterion b. Maximin criterion Maximax criterion d. Minimax regret criterion C

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