TABLE 19-1 The Following Payoff Table Shows Profits Associated with a Set

question 72

Multiple Choice

TABLE 19-1
The following payoff table shows profits associated with a set of 3 alternatives under 2 possible states of nature
-Blossom's Flowers purchases roses for sale for Valentine's Day.The roses are purchased for $10 a dozen and are sold for $20 a dozen.Any roses not sold on Valentine's Day can be sold for $5 per dozen.The owner will purchase 1 of 3 amounts of roses for Valentine's Day: 100,200,or 400 dozen roses.Given 0.2,0.4,and 0.6 are the probabilities for the sale of 100,200,or 400 dozen roses,respectively,then the EMV for buying 200 dozen roses is

• A)$4,500.
• B)$2,500.
• C)$1,700.
• D)$1,000.

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Definitions:

SRS

An abbreviation for Simple Random Sample, a sampling method where every member of the population has an equal chance of being selected.

Base Pair

A pair of nitrogenous bases, one purine and one pyrimidine, which form the rungs of the DNA double helix through hydrogen bonding.

Necessary Reagents

Substances required to carry out a specified chemical reaction.

Organic Compound

Chemical compounds that contain carbon and hydrogen, often containing other elements like nitrogen, oxygen, sulfur, and phosphorus, essential to life.