Question: Wk Qu. 9-13 A decision maker has prepared... A decision maker has prepared the following payoff table. Alternative Buy Rent Lease Prior Probability States of

Wk Qu. 9-13 A decision maker has prepared... A

Wk Qu. 9-13 A decision maker has prepared... A decision maker has prepared the following payoff table. Alternative Buy Rent Lease Prior Probability States of Nature High Low 95 0 80 40 60 35 0.6 0.4 Using Baye's Decision Rule, what is the best decision and the expected payoff? (Round your answer to 1 decimal place.) Best decision Payoff

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