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How to calculate the EMV for the questions attached?

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bandarna
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How to calculate the EMV for the questions attached?

Postby bandarna Thu Dec 04, 2014 4:52 am

How to calculate the EMV for the questions attached?

-Narsimha
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signor_rk
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Re: How to calculate the EMV for the questions attached?

Postby signor_rk Thu Dec 04, 2014 5:11 am

We need to start from the right branch:
For Chance Node 1: EMV = 0.20 * $1,000 = $200
For Chance Node 2: EMV = 0.10 * $200 = $20
For Chance Node 3: EMV = 0.20 * $20 = $4

So , the Final Decision Node EMV = $4

My pick is Option # D) $4
Regards ,

Ranjit

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