Video Business a High School Student,who Started Doing Videos as a as a Hobby,is

question 77

Essay

Video Business
A high school student,who started doing videos as a hobby,is considering going into the videography business.The anticipated payoff table is: The following prior probabilities are assigned to the states of nature: P(poor)= 0.4,P(fair)= 0.4,and P(super)= 0.2. ​ ​
-{Video Business Narrative} Calculate the expected monetary value for each act with present information.What decision should be made using the EMV criterion?

---

Definitions:

Scientific Method

Systematic method of obtaining and evaluating information relevant to a problem.

Variable

Measurable factor or characteristic that can vary within an individual, between individuals, or both.

Dependent Variable

In experimental and statistical research, the variable being tested and measured, which is expected to change as a result of manipulations to the independent variable.

Hypothesis

Testable statement about two or more variables and the relationship between them.