CS 662 Assignment 9: Utility, Decision Making, and Neural Networks
Assigned: Tuesday, November 28.
Due: December 5 at the start of class.
30 points total.
What to turn in: Written or typed answers for all questions.
Question 1: Utility (10 Points)
(from R & N, pp610): Tickets to a lottery cost $1. There are two
possible prizes: a $10 payoff, with probability 1/50, and a $1,000,000
payoff with probability 1/2,000,000. What is the expected value of a
lottery ticket? What is the optimal number of tickets to buy, assuming
your utility for money is linear?
Question 2: Value of Information (10 Points)
Do Question 16.11 on pp 611 of R & N, parts b,c,d,e. (you may skip part a).
Question 3: Neural Networks (10 points)
Do Question 20.15 on pp 761 of R & N, parts a,b,c.
Optional extra credit. (10 points).
This assignment has an optional programming component worth 10
points. The details on this can be
found here. You must complete all
required portions of the assignment to have your extra credit
considered. Extra credit will also not be accepted late.