Question: Use the following Payoff Table to answer questions in Problem Set Q2. Buy O Unit Buy 1 Unit Buy 2 Units Buy 3 Units Probability

Use the following Payoff Table to answer questions in Problem Set

Use the following Payoff Table to answer questions in Problem Set Q2. Buy O Unit Buy 1 Unit Buy 2 Units Buy 3 Units Probability uestion: What is the optimal decision using the Expected Value approach? a. Buy 1 units b. Buy 2 units c. Buy 3 units Buy 0 unit

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