What is the initiating event that begins the event tree

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Reference no: EM133374752

Questions:

What is the initiating event (E) that begins the event tree? What probability would you assign to the initiating event to the novice player that has only been playing for a few minutes?

What probability would you assign to the experienced player that has been playing for an hour or more? Why is there a difference?

Assume an experienced game player that has overcome the first nine levels, but has not ever seen levels 10 through 12. Assign probabilities of success for each branch in your event tree for the novice player and calculate the conditional probability of each outcome given occurrence of the initiating event. Use your experience as your guide.

Calculate the probability of each outcome assuming the experienced player. This means you are to assume the probability of initiating event you gave in part B for the experienced player.

Assume the loss associated with O1 is zero, the loss associated with O2 is 10, the loss associated with O3 is 20, and the loss associated with O3 is 40. What is the expected loss? (hint: multiply the loss value times the probability of experiencing that loss).

Reference no: EM133374752

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