Final II: Study Guide

  1. Non-standard maximization problem.
  2. Markov chain.
  3. Decision Analysis. Very similar to the problems on the handout.
  4. Create a joint probability distribution and find probabilities from it. Then, create a payoff table and perform decision analysis on the payoff table.
  5. Money bag problem. There are 7 parts with 2 scenarios.
  6. Stock market problem.
  7. Absorbing Markov Chain. Be sure to have the handout in your notes.
  8. Poker problems. 5 parts.
  9. 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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