Question: Can someone please help me with my Manufacturing Engineering homework on Decision Analysis? If you need more information you can use the Making Hard Decisions

Can someone please help me with my Manufacturing Engineering homework on Decision Analysis? If you need more information you can use the Making Hard Decisions with Decision Tools 3rd book

Can someone please help me with my Manufacturing

Problem 3. (25 Pts). Suppose you are asking two people, Oscar and Mildred, who gave the following responses to lottery questions: Given a 50-50 chance between the Lottery outcome \#1 and Lottery outcome \#2, Oscar stated that he found it equivalent to the dollar value in the third column, and Mildred stated that she found it equivalent to the dollar value in the last column. All amounts are in dollars. You will solve a problem using the utility function for each person. Assume that each person has a risk-averse exponential utility function. Suppose that Oscar and Mildred are each offered a choice of investments for $1000 : A CD paying 3\% per year, a bond fund, and a stock fund. The bond and stock fund pay as shown after 1 vear: a. What is the best investment for Oscar? What is his expected utility? (10 pts) b. What is the best investment for Mildred? What is her expected utility? (15 pts)

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