Question: Based on the following payoff (positive payoff) table Table2.pdf If the probabilities of s 1 , s 2 , and s 3 are 0.5, 0.3,

Based on the following payoff (positive payoff) Based on the following payoff (positive payoff) table Table2.pdf

If the probabilities of s1, s2, and s3 are 0.5, 0.3, and 0.2, respectively. Then, what decision should be made using the expected value criteria?

d1

Tie between d1 and d2

d3

d2
Decision d d2 dz Si 9 6 12 State of nature S2 25 35 15 35 50 15

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