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.
\table[[Alternative,States,of Nature],[High,Low],[Buy,100,5],[Rent,85,40],[Lease,45,35],[Prior Probability,0.4,0.6]]
Using Baye's Decision Rule, what is the best decision and the expected payoff?
Note: Round your answer to 1 decimal place.
\table[[Best decision,vdots
 A decision maker has prepared the following payoff table. \table[[Alternative,States,of Nature],[High,Low],[Buy,100,5],[Rent,85,40],[Lease,45,35],[Prior

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