State 1 State 2 State 3 Probability 0.3 0.4 0.3 Alternative 1 25 80 60 Alternative 2
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Question:
State 1 | State 2 | State 3 | |
Probability | 0.3 | 0.4 | 0.3 |
Alternative 1 | 25 | 80 | 60 |
Alternative 2 | 75 | 30 | 90 |
Alternative 3 | 100 | 40 | 35 |
Alternative 4 | 60 | 45 | 80 |
If a person were to use the expected monetary value criterion, what decision would be made?
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