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Business, 17.02.2021 04:00 59279

Freeway Scenario. You begin with two choices: Take the freeway or take local roads to get to your destination. The local roads will be clear, but if you take the freeway, traffic will either be heavy or light. If traffic remains heavy at the half-way point, you can continue on the freeway, or get off and take local roads the rest of the way. Here again, the local roads will be clear the rest of the way, but traffic on the remaining portion of the freeway will be heavy or light. Your favorite outcome is when you take the freeway and traffic is light. Your second favorite outcome is to start the trip on local roads. Your third favorite outcome is to take the freeway the entire way, if traffic starts out heavy and then becomes light at the half-way point. Your fourth favorite outcome is if traffic starts out heavy, and then you switch to local roads at the half-way point. And your least favorite outcome is if you drive in heavy traffic on the freeway the entire way. 1. Refer to Freeway Scenario. Represent this environment as a decision tree. Use real numbers for outcomes that reflect the appropriate ordinal ranking. (3 points)

2. Refer to Freeway Scenario. Represent this environment as a decision matrix. Use real numbers for outcomes that reflect the appropriate ordinal ranking. (3 points)

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Freeway Scenario. You begin with two choices: Take the freeway or take local roads to get to your de...
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