Use the following to answer question:
-(Table: Choice with Uncertainty)Use Table: Choice with Uncertainty.Suppose that the probability that the sitcom does not make it to television is 50%,that it makes it to television but is not the most viewed show in its time slot is 30%,and that it makes it to television and is the most viewed show in its time slot is 20%.Given this information,Norman's expected total utility is _____ utils.
A)2,000
B)2,150
C)2,350
D)2,650

Question

Use the following to answer question: 
-(Table: Choice with Uncertainty)Use Table: Choice with Uncertainty.Suppose that the probability that the sitcom does not make it to television is 50%,that it makes it to television but is not the most viewed show in its time slot is 30%,and that it makes it to television and is the most viewed show in its time slot is 20%.Given this information,Norman's expected total utility is _____ utils.
A)2,000 
B)2,150 
C)2,350 
D)2,650

Quizplus · Accepted Answer

The expected utility is calculated by multiplying each outcome's utility by its probability and summing them up. Assuming utilities for the outcomes are given or can be inferred, the expected utility is: 0.5 * 0 + 0.3 * utility of not most viewed + 0.2 * utility of most viewed. The correct choice is based on these calculations.

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