Question: Based on the following payoff (positive payoff) table Table3.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 Table3.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 theexpected value criteria?

d3

Tie between d1 and d2

d2

d1
State of nature S1 Decision d S2 30 20 25 6 12 9 S3 50 15 35 d2 dz

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