There Are Three Equally Likely States of Nature (High,Medium,and Low

question 53

Multiple Choice

There are three equally likely states of nature (High,Medium,and Low demand) .If the large factory will post profits of $50,000,$25,000,and - $10,000 under these states of nature,respectively,what is the EMV of the factory?

• A)$50,000
• B)$25,000
• C)$28,333.33
• D)$21,666.67
• E)$65,000

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Definitions:

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