Instruction 17-7
the Following Payoff Table Shows Profits Associated with a Set

question 16

Short Answer

Instruction 17-7
The following payoff table shows profits associated with a set of two alternatives under three possible events.
$$\begin{array} { l l l } \text { Event } & \text { Action A } & \text { Action B } \\\hline 1 & 1000 & 1200 \\2 & 500 & 700 \\3 & 300 & - 200\end{array}$$
-Referring to Instruction 17-7,what is the optimal action using the coefficient of variation?

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Definitions:

Proximity

is the state of being near or close in distance or relationship.

Zone

An area or a section designated for a particular purpose or characterized by a particular feature.

Edge

A competitive advantage that sets an individual, company, or product apart from others.

Environment

The surrounding conditions, influences, or forces that affect the growth, development, or existence of an organism or entity.