Question: Do not post old answers.Give detailed solution Question 2. Mark has $1000 in his hands, and he wants to put it into an online bank.

Do not post old answers.Give detailed solution Do not post old answers.Give detailed solution Question 2. Mark has $1000

Question 2. Mark has $1000 in his hands, and he wants to put it into an online bank. He has two options: Bank A and Bank B. Both banks offer two security options: Exclusive and Premium. The costs for security options are $100 for Exclusive and $80 for Premium for both banks. According to statistics: - Bank A's Exclusive Security Plan reduces the successful hacking attempt by 90%. - Bank B's Exclusive Security Plan reduces the successful hacking attempt by 85%. - Bank A's Premium Security Plan reduces the successful hacking attempt by 70%. 1 - Bank B's Premium Security Plan reduces the successful hacking attempt by 75%. The chance of having any hacking attempt in Bank A is 40\%, and in Bank B, it is 35%. The attempt being successful has a probability of 90% if no security option is used for both banks. With any successful hacking, Mark will lose 70% of his money. His utility for the amount of money in his account x is given by U(x)=x. (a) Draw a decision tree for Mark. (b) Find out the best decisions which maximize Mark's expected utility

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