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Suppose that a manager is trying to decide which of three mutually exclusive projects to undertake. Each of the projects could lead to varying net profits which are classified as outcomes I, II and III. The manager has constructed the following pay-off table or matrix (a conditional profit table). Project A B Probability Net profit if outcome turns out to be Il III $50,000 $65,000 $80,000 $70,000 $60,000 $75,000 $90,000 $80,000 $55,000 0.2 0.6 0.2 Required Decide which project should be undertaken