Exhibit 21-5 Below You Are Given a Payoff Table Involving Three States

question 34

Multiple Choice

Exhibit 21-5
Below you are given a payoff table involving three states of nature and three decision alternatives. The probability of occurrence of S₁ is 0.2 and the probability of occurrence of S₂ is 0.3.
-Refer to Exhibit 21-5. The recommended decision alternative based on the expected monetary value is

• A)A
• B)B
• C)C
• D)All alternatives are the same.

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