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The following payoff table shows profit for a decision analysis problem with two decision alternatives and three states
Posted: Sun Jul 03, 2022 3:17 pm
by answerhappygod
- The Following Payoff Table Shows Profit For A Decision Analysis Problem With Two Decision Alternatives And Three States 1 (10.71 KiB) Viewed 9 times
The following payoff table shows profit for a decision analysis problem with two decision alternatives and three states of nature. States of Nature) Decision Alternative 5₁ 270 "₂ 120 45 120 120 95 Suppose that the decision maker obtained the probabilities P(s) = 0.65, P(₂) 0.15, and P(s) 0.20. Use the expected value approach to determine the optimal decision. Ev(d₂) EV(d₂) = The optimal decision is