Question: In using the expected value criterion, suppose that there are three possible outcomes (states of nature). If the probability of outcome 1 is 0.4 and

In using the expected value criterion, suppose that there are three possible outcomes (states of nature). If the probability of outcome 1 is 0.4 and the probability of outcome 2 is 0.5, then what is the probability of outcome 3? Group of answer choices P(outcome 3) = 0.1 P(outcome 3) cannot be determined P(outcome 3) = 1.0 P(outcome 3) < 0

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