3. Imagine that you are trying to decide where to go for spring break: Aruba or...

 

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3. Imagine that you are trying to decide where to go for spring break: Aruba or Barbados. You have never been to either place and from what you know they are equally attractive destinations. You are able to find a website where people who have been to both places give a relative score from -5 to +5, where -5 is "Aruba is much better", +5 is "Barbados is much better" and 0 is "They are equally good." You decide to use these scores to help you decide where to go. Being an optimal decision maker, you know that the best thing to do is to keep reading reviews until the total relative score reaches a pre-determined threshold. You can't know this ahead of time, but the order of the scores that you would find on this website, from first to last, is: {-3, -1, +2, -4, -5, +1, -1, +2, +4, +5, 0, +4, +5, +2, -1, +4, +3, +2, +1, -3, +3, -4}. (a) Suppose that you are in a rush and so you decide to set your threshold quite low, at a total relative score of +/- 10. Which vacation destination would you choose and how many reviews did you read to make this decision? (b) Suppose instead that you really want to make an accurate decision here, so you set a higher threshold of +/- 20. Which vacation destination would you choose now and how many reviews did you read to make this decision? 3. Imagine that you are trying to decide where to go for spring break: Aruba or Barbados. You have never been to either place and from what you know they are equally attractive destinations. You are able to find a website where people who have been to both places give a relative score from -5 to +5, where -5 is "Aruba is much better", +5 is "Barbados is much better" and 0 is "They are equally good." You decide to use these scores to help you decide where to go. Being an optimal decision maker, you know that the best thing to do is to keep reading reviews until the total relative score reaches a pre-determined threshold. You can't know this ahead of time, but the order of the scores that you would find on this website, from first to last, is: {-3, -1, +2, -4, -5, +1, -1, +2, +4, +5, 0, +4, +5, +2, -1, +4, +3, +2, +1, -3, +3, -4}. (a) Suppose that you are in a rush and so you decide to set your threshold quite low, at a total relative score of +/- 10. Which vacation destination would you choose and how many reviews did you read to make this decision? (b) Suppose instead that you really want to make an accurate decision here, so you set a higher threshold of +/- 20. Which vacation destination would you choose now and how many reviews did you read to make this decision?

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Deciding Between Aruba and Barbados a Threshold 10 Reading Reviews We need to read reviews until the ... View the full answer