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Suppose you have a report due in four weeks. You can choose to write this report in either week one, two, three or four. The reward v of finishing the report is consistent in the four weeks, i.e. Reward = (v, v, v, v). The cost c of finishing the report in each week is Cost = (3, 5, 8, 15). For %3D simplicity, we assume that & = 1. a. If you are time consistent (ß = 1), which week will you choose to write the report? b. If you are naïve (ß = 0.5), which week will you choose to write the report?

Suppose you have a report due in four weeks. You can choose to write this report in either week one, two, three or four. The reward v of finishing the report is consistent in the four weeks, i.e. Reward = (v, v, v, v). The cost c of finishing the report in each week is Cost = (3, 5, 8, 15). For %3D simplicity, we assume that & = 1. a. If you are time consistent (ß = 1), which week will you choose to write the report? b. If you are naïve (ß = 0.5), which week will you choose to write the report?

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Suppose you have a report due in four weeks. You can choose to write this report in either week one, two, three or four. The reward v of finishing the report is consistent in the four weeks, i.e. Reward = (v, v, v, v). The cost c of finishing the report in each week is Cost = (3, 5, 8, 15). For %3D simplicity, we assume that 8 = 1. a. If you are time consistent (ß = 1), which week will you choose to write the report? b. If you are naïve (ß = 0.5), which week will you choose to write the report? %3D
Transcribed Image Text:Suppose you have a report due in four weeks. You can choose to write this report in either week one, two, three or four. The reward v of finishing the report is consistent in the four weeks, i.e. Reward = (v, v, v, v). The cost c of finishing the report in each week is Cost = (3, 5, 8, 15). For %3D simplicity, we assume that 8 = 1. a. If you are time consistent (ß = 1), which week will you choose to write the report? b. If you are naïve (ß = 0.5), which week will you choose to write the report? %3D
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