Exhibit 21-1
Below you are given a payoff table involving two states of nature and three decision alternatives. 
The probability of occurrence of S1 = 0.2.
-Refer to Exhibit 21-1. The expected monetary value of the best alternative is
Definitions:
Property Taxes
Taxes levied by local government on real estate properties, based on the assessed value of the property.
Vendor
A person or company offering something for sale, especially a trader in the goods or services sector.
Purchaser
An individual or entity that buys goods or services.
Prorated Refund
A return of a portion of a payment, calculated based on the proportion of a service or good that was not used or was unusable.
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