What Is the EMV for Option 1 in the Following

question 3

Multiple Choice

What is the EMV for Option 1 in the following decision table?
$$~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~{ \text { States of Nature } } \\\begin{array} { | l | c | c | } \hline \text { Alternatives } & \mathrm { S } _ { 1 } & \mathrm {~S} _ { 2 } \\\hline \mathrm { p } & .3 & .7 \\\hline \text { Option 1 } & 15,000 & 20,000 \\\hline \text { Option 2 } & 10,000 & 30,000 \\\hline\end{array}$$

• A) 15,000
• B) 17,000
• C) 17,500
• D) 18,500
• E) 20,000

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Definitions:

Harm Model

A conceptual framework focused on evaluating actions or policies based on the potential harm they cause, often used in ethical decision-making.

Aggression

Behavior intended to hurt or harm others, either physically or psychologically.

Diversity Competency

The capability to recognize, understand, and manage diversity effectively in the workplace or social settings.

Troubled

Experiencing difficulty, concern, or distress, often resulting from challenging circumstances or issues.