Question: 7. [-/6.66 Points] DETAILS WACKERLYSTAT7 4.2.009. MY NOTES ASK YOUR TEACHER PRACTIC A random variable Y has the following distribution function. 0, for y

7. [-/6.66 Points] DETAILS WACKERLYSTAT7 4.2.009. MY NOTES ASK YOUR TEACHER

7. [-/6.66 Points] DETAILS WACKERLYSTAT7 4.2.009. MY NOTES ASK YOUR TEACHER PRACTIC A random variable Y has the following distribution function. 0, for y

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1. Identify your reference point when making a decision based on an element of risk.

3. If there are reasonable alternatives, think about your decisions based on the different reference points and see if there are any contradictions in the decisions.

4. It is only at this point that you can give the problem your full attention in relation to the various ways you have framed the problem.