Exhibit 20-1 Below You Are Given a Payoff Table Involving Two States

question 47

Multiple Choice

Exhibit 20-1
Below you are given a payoff table involving two states of nature and three decision alternatives. The probability of occurrence of S₁ = 0.2.
-Refer to Exhibit 20-1. The expected value of the best alternative is

• A)8.8
• B)9.6
• C)22.0
• D)None of the answers are correct.

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