Question: (9 points) Consider the pay-off table below, with three alternatives A j and three states of nature S j in $. Let P(S 1 )

  1. (9 points) Consider the pay-off table below, with three alternatives Aj and three states of nature Sj in $. Let P(S1) = 0.30, P(S2) = 0.50, P(S3) = 0.20. Compute the expected monetary value for each of the alternatives. (Round the final answer to the nearest dollar.)

Pay-off Table:

Alternative

S1($)

S2($)

S3($)

A1

 50 70 100

A2

90

40

80

A3

70

60

90

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