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    Questions Freemark Abbey

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    Ambuj Agrawal
    This document contains 4 questions asking about a farmer, Mr. Jaeger, who must decide whether to harvest his Riesling grapes before an approaching storm or leave them and risk the grapes developing botrytis if the storm hits. The questions ask how much money Mr. Jaeger would make in each scenario, the probability the grapes would get botrytis if left, and what Mr. Jaeger should do taking all possibilities into account. The final question asks what the maximum is that Mr. Jaeger would pay to learn if the storm will actually hit the Napa Valley.

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    Questions Freemark Abbey

    Uploaded by

    Ambuj Agrawal
    23 views1 page
    This document contains 4 questions asking about a farmer, Mr. Jaeger, who must decide whether to harvest his Riesling grapes before an approaching storm or leave them and risk the grapes developing botrytis if the storm hits. The questions ask how much money Mr. Jaeger would make in each scenario, the probability the grapes would get botrytis if left, and what Mr. Jaeger should do taking all possibilities into account. The final question asks what the maximum is that Mr. Jaeger would pay to learn if the storm will actually hit the Napa Valley.

    Original Description:

    questions for analying freemark abbey winey

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    This document contains 4 questions asking about a farmer, Mr. Jaeger, who must decide whether to harvest his Riesling grapes before an approaching storm or leave them and risk the grapes developing botrytis if the storm hits. The questions ask how much money Mr. Jaeger would make in each scenario, the probability the grapes would get botrytis if left, and what Mr. Jaeger should do taking all possibilities into account. The final question asks what the maximum is that Mr. Jaeger would pay to learn if the storm will actually hit the Napa Valley.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    23 views1 page

    Questions Freemark Abbey

    Uploaded by

    Ambuj Agrawal
    This document contains 4 questions asking about a farmer, Mr. Jaeger, who must decide whether to harvest his Riesling grapes before an approaching storm or leave them and risk the grapes developing botrytis if the storm hits. The questions ask how much money Mr. Jaeger would make in each scenario, the probability the grapes would get botrytis if left, and what Mr. Jaeger should do taking all possibilities into account. The final question asks what the maximum is that Mr. Jaeger would pay to learn if the storm will actually hit the Napa Valley.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 1

    Questions:

    1. Assuming Mr. Jaeger chooses to harvest the Riesling grapes before the storm arrives, how
    much money will he make?

    2. Assuming Mr. Jaeger chooses to leave the grapes on the vine, what is the probability that
    the grapes will end up with botrytis and how much money will he make if that occurs?

    3. Taking account of all the various possibilities, what should Mr. Jaeger do?

    4. What is the maximum that Mr. Jaeger will be willing to pay to learn whether the storm
    really will hit the Napa Valley?

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