The following is an opportunity loss table. States of nature a b c Alternative 120 100 0
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Question:
The following is an opportunity loss table.
States of nature a b c
Alternative 120 100 0
Alternative 2100 0 25
Alternative 30 40 90
The probabilities for the states of nature A,B, C are .3 .5 and .2 respectively. If a person were to use the expected opportunity loss criterion, what decision would be made?
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