Question: Background: Sally has one night left to study for an exam, she may choose to either study by her shelf or with a group of

Background:

Sally has one night left to study for an exam, she may choose to either study by her shelf or with a group of friends from her class. She knows from previous experience that when she studies by her self she will get a B on the exam. If she chooses to study with friends she may benefit from the shared knowledge or be distracted by having friends around. When studying with friends her probability of getting an A to 40%, a B 30% and a C 30%. Assume the value of an A is 4.0, a B is 3.0 and a C is 2.0.

Question:

Draw a decision tree, calculate the EMV for each outcome and solve the decision tree to answer the question: Should Sally Study alone or with friends?

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