2/25/2020 Quiz: 8.2 Core Module Assignment #8 https://psu.instructure.com/courses/2043139/quizzes/3773865/take 1/9 8.2 Core Module Assignment #8 Started: Feb 26 at 1:47am Quiz Instructions 4 pts HTML...

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2/25/2020 Quiz: 8.2 Core Module Assignment #8 https://psu.instructure.com/courses/2043139/quizzes/3773865/take 1/9 8.2 Core Module Assignment #8 Started: Feb 26 at 1:47am Quiz Instructions 4 pts HTML Editor Question 1 Do some Internet sleuthing to find out information on the “value of statistical life” (VSL). Explain what VSL is, what it is used for, how it is determined, and provide examples of VSL values in different contexts. Be sure to include all your references (appropriately cited).                         12pt Paragrap 0 words0 words  4 ptsQuestion 2 2/25/2020 Quiz: 8.2 Core Module Assignment #8 https://psu.instructure.com/courses/2043139/quizzes/3773865/take 2/9 HTML Editor Suppose your client asked you to assume a VSL of $2 million. Now suppose you are studying the risk associated with a terrorist attack against people in a public space. You estimate that if successful, somewhere between 5 and 10 people will die. Consequently, in dollar terms, you estimate that the loss will be between $10 and $20 million. Is it appropriate to express loss of life in terms of dollars in this manner? Why or why not?                         12pt Paragrap 0 words0 words  4 pts HTML Editor Question 3 What is the difference between a tangible and intangible loss? Provide several examples of each.                         12pt Paragrap 2/25/2020 Quiz: 8.2 Core Module Assignment #8 https://psu.instructure.com/courses/2043139/quizzes/3773865/take 3/9 0 words0 words  4 pts HTML Editor Question 4 What is the difference between ALE and MPAL? Explain how each is calculated.                         12pt Paragrap 0 words0 words  2/25/2020 Quiz: 8.2 Core Module Assignment #8 https://psu.instructure.com/courses/2043139/quizzes/3773865/take 4/9 4 pts HTML Editor Question 5 What is a loss unit? Demonstrate by way of an example.                         12pt Paragrap 0 words0 words  4 pts HTML Editor Question 6 What goes into the value of an experience? How is this relevant to risk assessment?                         12pt Paragrap 2/25/2020 Quiz: 8.2 Core Module Assignment #8 https://psu.instructure.com/courses/2043139/quizzes/3773865/take 5/9 0 words0 words  4 pts HTML Editor Question 7 What is meant by the phrase “assigning value to loss?” Is it the risk analyst’s responsibility to assign value to loss? If not, whose responsibility is it? Why?                         12pt Paragrap 2/25/2020 Quiz: 8.2 Core Module Assignment #8 https://psu.instructure.com/courses/2043139/quizzes/3773865/take 6/9 0 words0 words  4 pts HTML Editor Question 8 Go back to that paper by Matschulat from several modules ago. Again, explain what is meant by the "logic of loss" and describe the aspects of loss that matter to decision makers.                         12pt Paragrap 0 words0 words  4 pts HTML Editor Question 9 Why does value depend on both the nature of the outcome and the cause of the outcome?                2/25/2020 Quiz: 8.2 Core Module Assignment #8 https://psu.instructure.com/courses/2043139/quizzes/3773865/take 7/9          12pt Paragrap 0 words0 words  4 pts HTML Editor Question 10 Beside economic value, name three other types of value a person might assign to an object or circumstance. (Thought question – this is not in any reading).                         12pt Paragrap 2/25/2020 Quiz: 8.2 Core Module Assignment #8 https://psu.instructure.com/courses/2043139/quizzes/3773865/take 8/9 0 words0 words  0 ptsQuestion 11 Extra Credit Question: Complete the Weighted Ranking Exercise (worth up to 4 extra credit points) Step 1. Review the document describing the Weighted Ranking method. Step 2. Use Weighted Ranking to rank order the following based on preference. The problem is as follows – you are looking for a summer internship. 1. Identify a list of 5 possible places/opportunities for the summer. 2. Assume you were offered a position at each of these companies for the summer. Identify a set of at least 4, but no more than 7 value criteria, used to choose among these opportunities. [note the polarity of these criteria is POSITIVE] 3. Apply weighted ranking to evaluate each opportunity in light of the criteria you identified. 4. Provide a rank order of the opportunities based on overall “value.” Step 3. Use Weighted Ranking to rank order the following based on disutility. The problem is as follows – you are evaluating outcomes following a malware attack against your personal computer. 1. Consider C, I, and A. Develop a MECE set of outcomes. (hint: there should be eight) 2. Assume the malware attack happened. Identify a set of at least 4, but no more than 7 value criteria, used to choose evaluate the severity of these outcomes. [note the polarity of these 2/25/2020 Quiz: 8.2 Core Module Assignment #8 https://psu.instructure.com/courses/2043139/quizzes/3773865/take 9/9 Quiz saved at 10:47pm HTML Editor criteria is NEGATIVE] 3. Apply weighted ranking to evaluate each outcome in light of the criteria you identified. 4. Provide a rank order of the opportunities based on overall “disutility” [lowest value on top, or ordered from least to most undesirable]                         12pt Paragrap 0 words0 words  Submit Quiz