Question: Question 7: Create a decision tree and fully analyze it to determine the optimal decision to make at every decision node. What is the

Question 7: Create a decision tree and fully analyze it to determine

Question 7: Create a decision tree and fully analyze it to determine the optimal decision to make at every decision node. What is the expected value (benefit score) of this situation? Part 4 Disillusioned with the prospects of political life, Pierre has decided to turn his attention away from running in the election and toward a study of voting procedures. His goal is to develop an efficient voting system by studying arrivals to the voting facility, the time it takes to check in at the voting facility, the time it takes to vote once one is at the voting booth, and the time spent waiting in line for these procedures. Pierre gathered data from the previous election at local voting facilities and found that the time between voters arriving at the check-in station is distributed as follows: Time Between Arrivals (Seconds) Probability 90 120 150 180 0.1 0.15 0.5 0.25 The time spent at the check-in station is assumed to be normally distributed with a mean of 120 seconds and a standard deviation of 30 seconds. The time spent in the voting booth is distributed as follows: Time (Seconds) Probability 60 90 120 180 0.4 0.3 0.2 0.1 Question 8: Build a simulation model of this situation (the model should simulate 250 voters moving through the system). What is the average amount of time spent in the entire voting system (measured as the difference between the time that a person finishes voting and the time that they arrived)? Question 9: What is the average time spent waiting in line at the check in station? Question 10: What is the average time spent waiting in line for the voting booth? Question 11: What proportion of voters wait in at least one of the lines?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!