Essay
Video Business
A high school student,who started doing videos as a hobby,is considering going into the videography business.The anticipated payoff table is: 
The following prior probabilities are assigned to the states of nature: P(poor)= 0.4,P(fair)= 0.4,and P(super)= 0.2.
-{Video Business Narrative} Calculate the expected monetary value for each act with present information.What decision should be made using the EMV criterion?
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EMV (Start)= (0.4)( −12,000)+ (0.4)(10,0...View Answer
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