Question: Figure 6.1 EMV Calculations in Excel A 1 Decision 1 B C D Decision 2 2 Payoff/Cost Probability 3 $50,000 0.1 4 $10,000 0.2

Figure 6.1 EMV Calculations in Excel A 1 Decision 1 B C D Decision 2 2 Payoff/Cost Probability 3 $50,000 0.1 4 $10,000 0.2 Payoff/Cost Probability $5,000 0.6 -$1,000 0.4 E F G Decision 3 H Payoff/Cost $3,000 Probability 1 5 -$5,000 0.7 6 7 EMV $3,500 EMV $2,600 EMV $3,000

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