Which course to take to maximizes expected utility of grade

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Reference no: EM13140204

Patty is trying to determine which of two courses to take. If she takes the operations research course, she believes that she has a 10% chance of receiving an A, a 40% chance for a B, and a 50% chance for a C. If Patty takes a statistics course, she has a 70% chance for a B, a 25% chance for a C, and a 5% chance for a D. Patty is indifferent between L1=(1,C), and L2=(0.25, A; 0.75 D). She is also indifferent between L3=(1,B) and L4=(0.7, A; 0.3 C). If Patty wants to take the course that maximizes the expected utility of her ?nal grade, which course should she take?

Reference no: EM13140204

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