TABLE 17-5
the Following Payoff Table Shows Profits Associated with a Set

question 66

Short Answer

TABLE 17-5
The following payoff table shows profits associated with a set of 2 alternatives under 3 possible events.
$\quad$ $\quad$ $\quad$ $\quad$ $\text {Action }$
$\begin{array} { c c c } \text { Event } & A & B \\1 & 1000 & 1200 \\2 &500 & 700\\3&300&-200\end{array}$

Suppose that the probability of Event 1 is 0.2, Event 2 is 0.5, and Event 3 is 0.3.
-Referring to Table 17-5, what is the standard deviation for Action A?

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Definitions:

Software

Programs and operating information used by a computer to perform specific tasks.

Reverse Innovation

A strategy where goods or services are developed first for emerging markets, and then adapted for more developed ones.

Diverse Settings

Various environments or situations that are distinct in character, culture, or composition.

Innovation Process

The sequence of activities that an individual or organization undertakes to conceive, develop, and bring to market new products or services.