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The Following Payoff Table Shows Profits for Two Decision Alternatives

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The following payoff table shows profits for two decision alternatives under three different states of nature. It is known that the probability of the occurrence of state of nature 1 is 0.1. The following payoff table shows profits for two decision alternatives under three different states of nature. It is known that the probability of the occurrence of state of nature 1 is 0.1.   a.What should the probabilities of states of natures 2 and 3 be so that the expected values of the two decision alternatives equal one another? b.Determine the expected values.
a.What should the probabilities of states of natures 2 and 3 be so that the expected values of the two decision alternatives equal one another?
b.Determine the expected values.


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