bl False (pick the best answer) a) Cardinal scales, unlike ordinal scales, provide no information about the relative strength of preference of the decision maker. [4%] b) Assuming attribute independence among the attributes, y’s, the assessment of a 2-dimensional utility function is simplified to that of2 one-dimensional functions: y) = g[v, y,), voo] 4% c) One needs to compute the “certainty equivalent” before determining the correct amount of insurance to buy, since proper insurance should cover the expected value of a loss. 14% T F
Expert Answer
a) The answer is given below:
False
The cardinal scale ensures on finding correspondent
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