proability and expected value

Project Description:

he following is a payoff table giving profits for various situations.

states of nature
alternatives a b c
alternative 1 100 120 180
alternative 2 120 140 120
the probabilities for states of nature a, b, and c are 0.3, 0.5, and 0.2, respectively.

calculate the expected values for both alternatives. what alternative would be chosen according to expected value?
for a lottery having payoffs of 200 with probability p and-100 with probability (1-p), the decision maker expressed the following indifference probabilities.

payoff probability
200 .99
180 .95
140 .90
120 .87
100 .84
50 .75
-100 .50

calculate the expected utility for both alternatives
what alternative would be chosen according to expected utility?
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