Instruction 17-2
the Following Payoff Table Shows Profits Associated with a Set

question 44

Multiple Choice

Instruction 17-2
The following payoff table shows profits associated with a set of three alternatives under two possible events.
$\begin{array} { c r r r } States & A 1 & A 2 & A 3 \\\hline 1 & 12 & - 2 & 8 \\2 & 4 & 10 & 5\end{array}$
where: $\quad S 1$ is event $1 \quad A 1$ is action alternative 1
$\quad\quad\quad\quad S 2$ is event $2 \quad A 2$ is action alternative 2
$\quad\quad\quad\quad\quad\quad\quad A 3$ is action alternative 3
-Referring to Instruction 17-2,if the probability of S1 is 0.2 and S2 is 0.8,then the expected monetary value of A1 is

• A)2.4.
• B)16.
• C)8.
• D)5.6.

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Definitions:

Steamboat

A boat that is propelled by a steam engine, instrumental in the 19th-century development of the American river transportation system.

Commercial Launch

This refers to the initiation of a product or service in the market for sale to the general public.

1807

The year notable for the passage of the Act Prohibiting Importation of Slaves in the United States, marking a significant step toward the abolition of slavery.

Transportation Systems

Infrastructure and vehicles designed for the movement of goods and people from one location to another, including roads, railways, airways, waterways, and pipelines.