Question: A decision maker has prepared the following payoff table. table [ [ Alternative , States,of Nature ] , [ High , Low ] ,
A decision maker has prepared the following payoff table.
tableAlternativeStates,of NatureHighLowBuyRentLeasePrior Probability,
Using Baye's Decision Rule, what is the best decision and the expected payoff?
Note: Round your answer to decimal place.
tableBest decision,vdots
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