Question: Answer questions 7 8 using the data in this payoff table : Alternatives States of Nature A B P(A)=0.4 P(B)=0.6 1 $380 $280 2 $400

Answer questions 7 8 using the data in this payoff table :

Alternatives	States of Nature
	A	B
	P(A)=0.4	P(B)=0.6
1	$380	$280
2	$400	$190
3	$250	$430

7. If you chose Alternative 3 and the state of nature turned out to be A, then the opportunity loss (regret) would be $___________. (fill up the blank)

8. If the perfect information said that the state of nature would be B, then you would choose Alternative _______ as your decision. (fill up the blank)

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