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The Following Is a Payoff Table Giving Profits for Various

Question 5

Multiple Choice

The following is a payoff table giving profits for various situations. The following is a payoff table giving profits for various situations. The probabilities for states of nature A, B, and C are 0.3, 0.5, and 0.2, respectively. If a person selected Alternative 1, what would the expected profit be? A) 120 B) 133.33 C) 126 D) 180 E) None of the above The probabilities for states of nature A, B, and C are 0.3, 0.5, and 0.2, respectively. If a person selected Alternative 1, what would the expected profit be?


A) 120
B) 133.33
C) 126
D) 180
E) None of the above

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