TABLE 17-1
the Following Payoff Table Shows Profits Associated with a Set

question 51

Multiple Choice

TABLE 17-1
The following payoff table shows profits associated with a set of 3 alternatives under 2 possible states of nature.
$\begin{array}{llcc} \text {States } &\text { A1 }&\text { A2 }&\text {A3 }\\\hline1&12&-2&8\\2&4&10&5\end{array}$


$\text {where:}$$\quad$$\quad$ $\text {S1 is state of nature 1 }$$\quad$$\text {A1 is action alternative 1}$
$\quad$$\quad$$\quad$$\quad$$\quad$$\text {S2 is state of nature 2}$$\quad$$\text { A2is action alternative 2}$
$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\text {A3 is action alternative3 }$
-Referring to Table 17-1, if the probability of S1 is 0.5, what is the return to risk ratio for A3?

• A) 2
• B) 1.5
• C) 4.333
• D) 0.667

Differentiate between various control system architectures such as DCS, SCADA, and PLC.

Understand the configuration and operation of closed-loop control systems.

Knowledge of how error signals are used to improve system performance.

Familiarize with the concept of open communications networks and their benefits in control systems.

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Definitions:

Stock Dividend

A dividend payment made in the form of additional shares rather than a cash payout.

Legal Obligation

A duty enforced by law that requires an individual or entity to conform to specific conduct or refrain from certain actions.

Cash Dividend Declaration

An announcement by a company's board of directors to distribute profits to shareholders in the form of cash.

Liability Account

An accounting record that captures the amounts a company owes to lenders or suppliers, not yet paid but recognized as obligations.