PLEASE ANSWER PART C $!!!$

The following payoff table shows the profit for a decision problem with two states of nature and two decision alternatives.

$($a$)$ Use graphical sensitivity analysis to determine the range of probabilities of state of nature $s_1$ for which each of the decision alternatives has the largest expected value.

is optimal for $p(s_1),$;$,d_{1}vv$ is optimal for $p(s_1)1.$

$($b$)$ Suppose $P(s_1)=0\mathrm{.}2$ and $P(s_2)=0\mathrm{.}8.$ What is the best decision using the expected value approach?

The best decision is $,$ with an expected value of $.$

optimal.

As long as the payoff for $s_1$ is $zvv|x,$ then $d_2$ will be optimal.

As long as the payoff for $s_2$ is $zv,x,$ then $d_2$ will be optimal.

Is the solution more sensitive to the payoff under state of nature $s_1$ or $s_2?$

$\backslash$table$[[s_1$