Instruction 17-3 The Following Payoff Matrix Is Given in Dollars

question 8

Multiple Choice

Instruction 17-3
The following payoff matrix is given in dollars.
Suppose the probability of Event 1 is 0.5 and Event 2 is 0.5.
-Referring to Instruction 17-3,what is the optimal action using the expected monetary value (EMV) criterion?

• A)Action A.
• B)Action B.
• C)Either Action A or Action B.
• D)It cannot be determined.

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