Gas Company
A payoff table for an electric company is shown below: 
The following prior probabilities are assigned to the states of nature: P(s1)= 0.3,P(s2)= 0.7.
-{Gas Company Narrative} Calculate the expected opportunity loss for each act with present information.What decision should be made using the EOL criterion?
Definitions:
Social Security Portion
The part of income that goes towards Social Security contributions, typically seen on payroll statements.
Annual Wage Base
The maximum amount of earnings on which employees must pay Social Security taxes in a given year.
FUTA Tax
Federal Unemployment Tax Act tax, an employer-paid tax used to fund state workforce agencies.
Maximum Credit
Refers to the highest amount of credit a taxpayer can claim on their tax return, which directly reduces their tax liability.
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