Instruction 17-7
the Following Payoff Table Shows Profits Associated with a Set

question 15

Short Answer

Instruction 17-7
The following payoff table shows profits associated with a set of two alternatives under three possible events.
$$\begin{array} { l l l } \text { Event } & \text { Action A } & \text { Action B } \\\hline 1 & 1000 & 1200 \\2 & 500 & 700 \\3 & 300 & - 200\end{array}$$
-Referring to Instruction 17-7,what is the optimal action using the return to risk ratio?

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Definitions:

Cultural Competency

The skill to appreciate, interact with, and adeptly connect with individuals of different cultural origins.

Own Biases

Personal prejudices or preconceived notions that can influence one's judgment and perception.

Tolerance

The readiness to tolerate emotions, practices, or convictions that diverge from one's personal views.

Nonverbal Differences

Variations in body language, facial expressions, and other forms of non-spoken communication that differ between cultures or individuals.