Question: Compute the expected monetary value for three decisions A1, A2 and A3 under three states of nature S1, S2 and S3 with probabilities of 0.30,

  1. Compute the expected monetary value for three decisions A1, A2 and A3 under three states of nature S1, S2 and S3 with probabilities of 0.30, 0.50 and 0.20, respectively. The payoffs for A1 under the three states of nature are K50, K70 and K100 respectively; A2, K90, K40 and K80; A3 K70, K60 and K90.

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