Final II: Study Guide
- Non-standard maximization problem.
- Markov chain.
- Decision Analysis. Very similar to the problems on the handout.
- Create a joint probability distribution and find probabilities from it. Then, create a payoff table
and perform decision analysis on the payoff table.
- Money bag problem. There are 7 parts with 2 scenarios.
- Stock market problem.
- Absorbing Markov Chain. Be sure to have the handout in your notes.
- Poker problems. 5 parts.
- Retirement problem. Compute the amount necessary to retire, and then how much must be
saved to reach that amount.
You may use your notes and a group on this exam. The first hour of the exam will be notes only.
The second hour of the exam will be notes and groups.
Last updated: Sunday, July 28, 1996 at 6:45 PM
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