(a) Formalize and visualize the decision problem in a decision matrix. (b) Formalize and visualize the decision problem in a decision tree.
(c) How much money can you expect to lose, on average, for every
2.1 If you play roulette in Las Vegas and bet on a single number, the
probability of winning is 1/38: There are 38 equally probable out-
comes of the game, viz. 1-36,0 and 00. If the ball lands on the number
you have chosen the dealer will pay you 35 times the amount betted,
and return the bet.
dollar you bet?
2.2 Formalize the follo