Question: 2. The profit payoff table for a decision problem with two states of nature and three decision alternatives is: States of nature g p ai

2. The profit payoff table for a decision problem with two states of nature and three decision alternatives is: States of nature g p ai 15 10 Decision a2 10 12 8 20 = The prior probabilities for good condition (g) and poor condition (p) are P(g) = 0.1 and P(p) = 0.3, respectively. Suppose some indicator information, (P) positive report and (N) negative report are obtained with the following conditional probabilities: P(P/g) = 0.70,P(N/g) = 0.3,P(P/ p) = 0.20, P(N/p) = 0.80. a) Represent the problem as a decision tree. b) Which best decision should you select
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