Q1. A restaurant has seven tables and only serves patrons with reservations. If more customers with reservations show up than number of available tables, the restaurant incurs a cost of $145 associated with customer ill will and lost future business. Each empty table costs restaurant $100 in lost profits. Historical records related to no shows indicate the following. What is an expected value of perfect information?
Q2. Are juveniles truly able of understanding the seriousness and consequences of their actions? If it is so, at what age are they capable of understanding?