Memos/EV & EU Flashcards
The best line of reasoning (argument) is ________ until it is clearly communicated
worthless
What is an argument
A set of claims in which some of those claims are offered as reasons in support of another
How many words is a memo
Short - 150 words
What is a memo
Implies something needs to be done, brief message with a call to action
Header structure
To: Reader name, job title
From: Sender name, job title
Date: mm/dd/yyyy
Subject: Brief description
Body parts
- Introduction
- Explanation
- Call to action
What does intro include
- Why are you writing
- Background readers should know
- Why is the issue arising now
What does explanation include
- Give the info
- Explain info/tasks
- Present your reasoning
What does closing include
- State the expected outcome
- What should the reader do
- State it politely
What are the 4 C’s
Careful, Clear, Concise, Clean
What is expected value
The average value of some action would be if repeated many, many times
Gamblers Fallacy
Error in thinking that occurs when someone believes that a random event is more or less likely to happen given previous events
What does expected value assume
We can attract a dollar figure to all possible outcomes
Expected Value formula
EV = (p1 x v1) + (p2 x v2) + … - fixed cost
What is expected utility
Estimates the utility of an action when the outcome is uncertain
