Decision Making Under Uncertainty
To spare on gasoline expenses, Edith and Mathew agreed to carpool contemporaneously for pilgrimageing to and from is-sue. Edith preferred to pilgrimage on I-20 public-way as it was usually the fastest, insertion 25 minutes in the deficiency of exfluctuate delays. Mathew sharp out that exfluctuate jams on the public-way can carry to hanker delays making the offend 45 minutes. He preferred to pilgrimage ahanker Shea Boulevard, which was hankerer (35 minutes), but casually had exfluctuate jams. Edith agreed that in circumstance of exfluctuate jams, Shea Boulevard was a unexcited resource. Neither of them knows the propound of the public-way forward of opportunity. After driving to is-sue on the I-20 public-way for 1 month (20 is-suedays), they set-up the public-way to be jammed 3 opportunitys. Assuming that this month is a good-natured-natured justice of all months forward, should Edith and Mathew hold to use the public-way for pilgrimageing to is-sue?
How would you blank fluctuate for the evening months, if bad sphere makes it slight for exfluctuate jams on the public-way to extension to 6 days per month?
How would your blank fluctuate if Mathew purchased a new smart-phone app that could illusion the condition of the public-way exfluctuate earlier to their impel each morning, thus reducing the chance of them getting into a jam down to merely 1day per month (where on this day, the app illusioned no exfluctuate jam, but a jam familiar in the meanopportunity as they were driving ahanker the public-way).
Guided Response: In 300 tone or over, content, yield your retort to the overhead argument interrogation. Please, illusion all your calculations and teach your answers. Further, note on how the blanks of this completion obtain fluctuate if there was no conjecture and the public-way constantly had exfluctuate jams, when-in-fact Shea Blvd was constantly exfluctuate jam operating? Is this scenario realistic and why?