Question: I do not understand this problem QUESTION The following is a payoff table giving profits for various situations States of Nature Alternatives A Alternative 1

I do not understand this problem

QUESTION The following is a payoff table giving profits for various situations States of Nature Alternatives A Alternative 1 TOO 120 180 Alternative 320 140 120 Alternative 200 100 SO Do Nothing 0 0 0 The probabilties for states of nature A, B, and C are 0.3, 0.5, and 0.2, respectively. If a person selected Alternative 1. what would the expected profit be? 120 133.3 @ 126 O 180

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