Posted: February 16th, 2021

Decision tree problems | Operations Management homework help

You have sued your employer for wrongful termination. They are offering a settlement of $70,000. The alternative is to go to trial, at a cost of $20,000. Your lawyer tells you that there are two possibilities: (1) you win, in which case you can expect an award of S100,000, or (2) you lose, in which case you get nothing. She thinks that there is a 60% chance that you will win

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a. List the options that you have and the possible outcomes.

b. If all you care about is your expected wealth (and prefer more wealth to less), find the optimal decision.

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