The quality control manager for the NKA Inc.must decide whether to accept (alternative 1),further analyze (alternative 2),or reject (alternative 3)the shipment (lot)of incoming material.The historical data indicates that there is 30% chance that the lot is poor quality (S1),50% chance that the lot is fair quality (S2),and 20% chance that the lot is good quality (S3).Assume the following payoff table is available.The values in the payoff table are in thousands of dollars. 
What alternative action should be selected according to expected monetary value criterion?
Definitions:
Systematic Errors
Errors in measurement that are consistent and repeatable, often due to a flaw in the measurement system, which can lead to bias in the results.
Observations
The act of monitoring and recording behaviors, events, or changes in the environment with the aim of making a judgment or inference.
Behavioral Assessment
A method used in psychology to observe, describe, explain, and predict behavior through various techniques and tools.
Behavioral Assessment
The process of observing, measuring, and evaluating an individual's actions and behaviors in specific contexts to understand or modify those behaviors.
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