Question: The following payoff table shows prot for a decision analysis problem with two decision altemativa and three states of nature. Suppose that the decision maker


The following payoff table shows prot for a decision analysis problem with two decision altemativa and three states of nature. Suppose that the decision maker obtained the probabilities 15(51) = 0.65, H52) = 0.15, and H53) = 0.20. Use the expected value approach to determine the optimal decision. WW = S EVWZJ = E The optimal decision is
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