Question: In the following profit payoff table for a decision problem with two states of nature and three decision alternatives, the prior probabilities forS 1 and

In the following profit payoff table for a decision problem with two states of nature and three decision alternatives, the prior probabilities forS1 and S2 are P(S1)=0.8 and P9S2)=0.2
Excel File: data20-15.xls
State of Nature
Decision Alternative
1510
1012
820
a. What is the optimal decision?

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