Determine the optimum decision based on the maximum EMV. Compare this optimum decision (based on ball color statistics) with the optimum decision identified earlier using only the prior urn probabilities (based on number of urns): Compare and prioritize two approaches: (1) Decision-making based only on urn counts (prior probabilities) and (2) Decision-making based on ball color statistics (sampling from the chosen urn). Which approach provides better support for this application, and why? Does the single red ball observation (method 2) reduce uncertainty compared to using urn statistics only (method 1)? Why or why not? What could be done to further reduce uncertainty in method 2