The Highest Value for the Equally Likely Criterion Is ________;

question 72

Multiple Choice

The highest value for the equally likely criterion is ________; this occurs with alternative ________. States of Nature
$$\begin{array} { | c | c | c | } \hline \text { Alternatives } & \mathrm { S } _ { 1 } & \mathrm {~S} _ { 2 } \\\hline \text { Option } 1 & \$ 10,000 & \$ 30,000 \\\hline \text { Option } 2 & \$ 5,000 & \$ 45,000 \\\hline \text { Option } 3 & - \$ 4,000 & \$ 60,000 \\\hline\end{array}$$

• A) $20,000; Option 1
• B) $25,000; Option 2
• C) $28,000; Option 3
• D) $32,000; Option 3
• E) $60,000; Option 3

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Definitions:

Expert Power

The influence a person has over others due to their recognized expertise, skills, or knowledge in a specific area.

Coercive Power

The capacity to control others through the fear of punishment or the loss of valued outcomes.

Legitimate Power

Legitimate Power is authority that is officially sanctioned or accepted due to a person’s position or role within an organization or system.

Referent Power

A form of influence where a person elicits compliance or admiration from others based on charisma or personal traits rather than formal authority.