Question: Can someone please answer PART B?! Hank is an intelligent student and usually makes good grades, provided that he can review the course material the

Can someone please answer PART B?!

Hank is an intelligent student and usually makes good grades, provided that he can review the course material the night before the test. For tomorrows test, Hank is faced with a small problem: His fraternity brothers are having an all-night party in which he would like to participate. Hank has three options: a1 = Party all night a2 = Divide the night equally between studying and partying a3 = Study all night

Tomorrows test can be easy (s1), moderate (s2), or tough (s3), depending on the professors unpredictable mood. Hank anticipates the following scores:

a1 a2 a3

s1 85 60 40

s2 92 85 82

s3 100 88 82

(a) Recommend a course of action for Hank (based on each of the four criteria of decisions under uncertainty: maximax, maximin, Laplace, regret).

(b) Suppose that Hank is more interested in the letter grade he will get. The dividing scores for the passing letter grades A to D are 90, 80, 70, and 60, respectively. Would this attitude toward grades call for a change in Hanks course of action? (The answer could be different for different decision criteria.)

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