Exhibit 20-2 Below You Are Given a Payoff Table Involving Three States

question 14

Multiple Choice

Exhibit 20-2
Below you are given a payoff table involving three states of nature and two decision alternatives. The probability that S₁ will occur is 0.1; the probability that S₂ will occur is 0.6; and the probability that S₃ will occur is 0.3.
-Refer to Exhibit 20-2. The expected value of the best alternative equals

• A)29
• B)105
• C)12
• D)38.5

---

Definitions:

Quality Of Service

The degree to which a delivered service meets the expectations and requirements of the customer.

Person Analysis Process

A method in training needs assessment aimed at determining individual employees' deficiencies and the necessary training to address them.

Needs Analysis

A method used to determine and address gaps between current conditions and desired outcomes or performances.

Non-Technical Skills

Essential skills that do not involve technical knowledge but are crucial for workplace success, such as communication, teamwork, and problem-solving.