Question: - Class Exercise 1: Draw a decision matrix that illustrates the decision whether or not to buy a ticket in a lottery. Class Exercise 2:

- Class Exercise 1: Draw a decision matrix that illustrates the

- Class Exercise 1: Draw a decision matrix that illustrates the decision whether or not to buy a ticket in a lottery. Class Exercise 2: Formulate a hypothetical decision scenario and represent it by a decision matrix; and deduce its: i. State of nature. ii. Alternatives or courses of action. iii. Outcome

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