Question: Consider the following pay-off table where the rows (D1, D2, D3) represent the decisions and the columns (E1, E2, E3) represent the events. The probability

Consider the following pay-off table where the rows (D1, D2, D3) represent the decisions and the columns (E1, E2, E3) represent the events. The "probability" row provides the probability of each event happening. A negative value means a loss. Also, the D1-E1 and D3-E1 pay-offs are hidden.

E1 E2 E3
D1 XXX 500 1200
D2 200 400 300
D3 YYY 600 400
Probability 0.3 0.5 0.2

Using the expected value approach, the optimal decision would be _________ if XXX is _____ and YYY is ___

D3, 0, 350

D2, -500, -200

D1, -600, -300

D1, -400, 0

D3, -200, 200

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