TABLE 17-5
the Following Payoff Table Shows Profits $\quad$

question 22

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 opportunity loss for Action B with Event 3?

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Definitions:

Motor

Pertaining to movements or mechanisms driven by muscles, referring to the nervous system components that initiate and control physical actions.

Light

Electromagnetic radiation visible to the human eye, essential for human vision and photosynthesis in plants.

Revolving Nosepiece

Part of a microscope that holds the objectives and can be rotated to change magnification.

Objective Lens

The lens in a microscope closest to the specimen, which magnifies the image of the specimen.