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SCENARIO 19-2
the Following Payoff Matrix Is Given in Dollars \quad

question 97

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SCENARIO 19-2
The following payoff matrix is given in dollars. \quad \quad \quad \quad \quad \quad  Action \text { Action }
 Event AB14007002200500\begin{array}{l}\begin{array} { c c c } \text { Event } & A & B \\\hline 1 & 400 & 700 \\2 & 200 & 500\end{array}\end{array} Suppose the probability of Event 1 is 0.5 and Event 2 is 0.5.
-Referring to Scenario 19-2, what is the optimal action using the EMV criterion?


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