You are studying for your final. You can study by reviewing your notes, reading the book, or going over your old homework. How you prepare will affect your score on the test.

However, youre also not sure what type of test it will be - it could be multiple choice, short answer, or essay. Different ways of studying are more effective for some types of tests than others.

The following table shows how you will score on each type of test based on how you prepare:

	Test	Type
Prep	Multiple Choice	Short Answer	Essay
Notes	50	70	80
Book	85	60	60
Homework	70	80	65

A. Compute the worst-case score for each preparation method. What prep method should you use based on a conservative decision criterion?

a. Notes b. Book c. Homework d. None of the above

B.

Compute the regret for each scenario and the maximum regret for each preparation method.

What preparation method should be used to minimize the maximum regret?

a. Notes b. Book c. Homework d. None of the above