For the Payoff Table Below,the Decision Maker Will Use P(s₁)=

question 43

Essay

For the payoff table below,the decision maker will use P(s₁)= 0.15,P(s₂)= 0.5,and P(s₃)= 0.35.​ ​
a.What alternative would be chosen according to expected value?
b.For a lottery having a payoff of 40,000 with probability p and -15,000 with probability (1 -p),the decision maker expressed the following indifference probabilities.
c.What alternative would be chosen according to expected utility?
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Definitions:

Synaptic Vesicles

Membrane-bound sacs located within axon terminals, responsible for storing neurotransmitters that are released into the synaptic gap during neurotransmission.

Synapse

The junction between two neurons where nerve impulses are transmitted from one to another, often through the release of neurotransmitters.

Presynaptic Membrane

The membrane of a nerve cell terminal that is proximal to the synaptic cleft and releases neurotransmitters in response to an action potential.

Action Potential

A rapid, temporary change in the electrical charge across a cell membrane, allowing nerve cells to transmit signals.