1. Which of these cannot be considered a non-compensatory attribute when buying a phone? A Cost C. Warranty D. Cannot decide B. Specifications 2. If there are three possible outcomes under the same decision node, then A. the probability of each outcome occurring is 1/3.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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Select the correct answer(s) for each item. If NONE or MORE THAN ONE of the choices is the correct answer, choose E.

1. Which of these cannot be considered a non-compensatory attribute when buying a phone?
A. Cost
B. Specifications
C. Warranty
2. If there are three possible outcomes under the same decision node, then
A. the probability of each outcome occurring is 1/3.
B. the probability of one outcome occurring cannot exceed (or be less than) 1/3.
C. the chances of each outcome occurring vary depending on the problem.
D. its expected value will always be equal to 1.
D. Cannot decide
Transcribed Image Text:1. Which of these cannot be considered a non-compensatory attribute when buying a phone? A. Cost B. Specifications C. Warranty 2. If there are three possible outcomes under the same decision node, then A. the probability of each outcome occurring is 1/3. B. the probability of one outcome occurring cannot exceed (or be less than) 1/3. C. the chances of each outcome occurring vary depending on the problem. D. its expected value will always be equal to 1. D. Cannot decide
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