Question: Q4 [2 marks] What is the expected monetary value for Option 1 & Option 2 in the following decision table of payoffs? Which Option should

Q4 [2 marks] What is the expected monetary value for Option 1 & Option 2 in the following decision table of payoffs? Which Option should be selected? Show your calculations. Alternatives States of Nature Probability 0.3 0.7 15,000 20,000 Option 1 10,000 30,000 Option2

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