TABLE 17-1
the Following Payoff Table Shows Profits $\begin{array}{llcc} \text {States } &\text { A1 }&\text { A2 }&\text {A3 }\\\hline1&12&-2&8\\2&4&10&5\end{array}$

question 54

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 expected monetary value (EMV ) for A2?

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Definitions:

Third International

Also known as the Communist International or Comintern, it was an international communist organization aimed at fighting by all available means, including armed force, for the overthrow of the international bourgeoisie.

Monument

A structure, statue, or other edifice created to commemorate a person, event, or concept, often of historical, cultural, or social significance.

Government Building

A structure where governmental functions and administrative work are conducted, often recognizable by its official and sometimes monumental design.

Painting

The practice of applying pigment, color, or other medium to a surface with various tools, creating artistic expressions.