Question: Consider a decision analysis problem whose payoffs are given by the following payoff table. There are three alternatives, A1, A2 and A3. Which alternative should

Consider a decision analysis problem whose

Consider a decision analysis problem whose payoffs are given by the following payoff table. There are three alternatives, A1, A2 and A3. Which alternative should be chosen under the maximum likelihood criterion? State of Nature Alternative A1 A2 A3 Prior probability S1 20 30 50 0.3 S2 30 70 60 0.7

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