A medical doctor is involved in a $1 million malpractice suit.He can either settle out of court for $250,000 or go to court.If he goes to court and loses,he must pay $825,000 plus $175,000 in court costs.If he wins in court the plaintiffs pay the court costs.
-Identify the actions of this decision-making problem.
A) Two possibilities: (1) win the case in court or (2) lose the case in court.
B) Four consequences resulting from Go/Settle and Win/Lose combinations.
C) The amount of money paid by the doctor.
D) Two choices: (1) go to court or (2) settle out of court.
Correct Answer:
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