The Following Payoff Table (In Thousands of Dollars) Considers Three

Multiple Choice

The following payoff table (in thousands of dollars) considers three possible levels of demand in a housing complex.If there is a 45% chance that the demand level will be low, 30% that it will be medium and 25% chance that it will be high, the expected value (in thousands of dollars) associated with the best action is ________________________ .

A) $208.75
B) $225
C) $310
D) $326.25
E) $535