Instruction 17-3
the Following Payoff Table Shows Profits Associated with a Set

question 79

Multiple Choice

Instruction 17-3
The following payoff table shows profits associated with a set of three alternatives under two possible events.
$$\begin{array} { c c c c } \text { States } & A 1 & A 2 & A B \\\hline 1 & 12 & - 2 & 8 \\2 & 4 & 10 & 5\end{array}$$ where:
S1 is event 1
A1 is action alternative 1
S2 is event 2
A2 is action alternative 2
A3 is action alternative 3
-Referring to Instruction 17-3,if the probability of S1 is 0.4,then the probability of S2 is _______.

• A) 1.0
• B) 0.6
• C) 0.4
• D) 0.5

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Definitions:

Customer Needs

The wants and requirements that customers expect to be fulfilled by a product or service.

Supply of Labor

The total number of individuals available to work, considering factors like economic conditions, demographics, and employment rates.

Decision Support System

A computer-based information system that supports business or organizational decision-making activities, providing helpful data, documents, and tools for making informed choices.

Productivity Level

The measure of the efficiency of production, often quantified as the ratio of output to input in a specific period.