General Studies · Decision Theory
A decision maker must choose between two operational plans: Plan X: Guarantees a performance level that meets 90% of the target. Plan Y: Offers a 60% chance of exceeding the target by 20% and a 40% chance of falling short by 10%. Assuming the decision maker is risk-neutral and decides solely based on the expected outcome, which plan should be preferred?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Plan X
- 2Plan Y✓
- 3Both plans are equivalent
- 4Further details on the target are required
Correct answer
Plan Y
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