SCENARIO 19-1
the Following Payoff Table Shows Profits Associated with a Set

question 117

Multiple Choice

SCENARIO 19-1
The following payoff table shows profits associated with a set of 3 alternatives under 2 possible states
of nature. $\begin{array}{crrr}\text { States } & A 1 & A 2 & A 3 \\\hline 1 & 12 & -2 & 8 \\2 & 4 & 10 & 5\end{array}$

where: $\quad S 1$ is state of nature 1 $\quad$$A 1$ is action alternative 1
$\quad$$\quad$$\quad$$S 2$ is state of nature 2 $\quad$$A 2$ is action alternative 2
$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$A 3$ is action alternative 3
-Referring to Scenario 19-1, if the probability of S1 is 0.5, then the expected monetary value (EMV ) for A2 is

• A) 3
• B) 4
• C) 6.5
• D) 8

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Definitions:

Epithelial

Relating to the epithelium, a layer of cells covering the body surfaces, lining cavities, and forming glands.

Electrical Messages

Signals or impulses transmitted by neurons in the nervous system, enabling communication between different parts of the body.

Nervous

Pertaining to the nerves or experiencing feelings of anxiety or apprehension.