Question: Decision 1 Decision 2 Payoff/Cost Probability Payoff/Cost Probability $50,000 0.1 $5,000 0.6 $10,000 0.2 $1,000 0.4 -$5,000 0.7 EMV EMV 1. Calculate EMV for Decision

Decision 1 Decision 2 Payoff/Cost Probability

Decision 1 Decision 2 Payoff/Cost Probability Payoff/Cost Probability $50,000 0.1 $5,000 0.6 $10,000 0.2 $1,000 0.4 -$5,000 0.7 EMV EMV 1. Calculate EMV for Decision 1 and 2

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