Question: . Dr. Stein announced she is considering two formats (open book or closed book) for an in-class final exam, but the students wont know the

. Dr. Stein announced she is considering two formats (open book or closed book) for an in-class final exam, but the students wont know the format until they arrive for the exam. You think (but you do not actually know) that the following is likely to happen: 40% chance of a hard open book exam; 10% chance of an easy open book exam; 20% chance of a hard closed book exam; and 30% chance of an easy closed book exam. Given all your time pressures during finals week, you must decide to either study really hard for this exam, or skim the materials.

1.a. What is the maximax choice? 3 points)

1.b What is the maximim choice? (3 points)

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