Question: same as given Question 7 (4 points) Use the following payoff table to determine the answers to the following question. Assume P(S1) = 0.20, P($2)

same as given Question 7 (4 points) Use the following payoff

same as given

Question 7 (4 points) Use the following payoff table to determine the answers to the following question. Assume P(S1) = 0.20, P($2) = 0.05, and P(S3) is such that the three probabilities sum to 1. State of Nature Decision Choice 1 $5410 $1030 $2670 Choice 2 $3250 $4040 $1810 Choice 3 $2210 $3720 |$4880 Examine the opportunity losses for Choice 2 and identify the greatest opportunity 069. Your Answers

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